HF 2266: Relating to points and fees charged on loans by mortgage bankers

What it does

This bill relates to points and fees charged on loans by mortgage bankers. Under current law, if a lender that is a mortgage banker makes a loan in which the points and fees the borrower is charged by all lenders in connection with the loan do not exceed the amounts specified in C.F.R. §1026.43(e)(3), the loan shall not be subject to the provisions of Code section 535.8(5). Under the bill, the loan shall also not be subject to Code section 535.8(4)(a).

House subcommittee · named January 18, 2024

• Rep. Carter F. Nordman (R) · carter.nordman@legis.iowa.gov
• Rep. Sean Bagniewski (D) · sean.bagniewski@legis.iowa.gov
• Rep. Mike Vondran (R) · mike.vondran@legis.iowa.gov

Lobbying · 1 for, 0 against

For: Rocket Mortgage

In plain words

1. January 18, 2024Filed in the House and sent to the Commerce committee · as HSB 584
2. January 18, 2024House subcommittee named: Nordman, Bagniewski and Vondran · as HSB 584
3. January 23, 2024Subcommittee recommended passing it · as HSB 584
4. January 30, 2024Approved by the House committee · as HSB 584
5. February 1, 2024Filed in the House
6. February 1, 2024Approved by the House committee, and given a new number: HF 2266 · as HSB 584
7. February 21, 2024Passed the House, 97–0
8. February 22, 2024Arrived in the Senate
9. March 19, 2024Took the place of SF 2287 on the Senate floor (the same legislation)
10. March 19, 2024Passed the Senate, 49–0
11. April 10, 2024Sent to the Governor
12. April 10, 2024Signed into law