Current Legislation

State Legislation - Iowa
Mortgage Broker Duty of Agency
Bill #: HF375
Year: 2009

Bill Summary:
House File 375 passed the House on a largely bipartisan vote, 89-9. The bill now goes to the Senate, where it must be considered by the Senate Commerce committee. This legislation would require mortgage brokers to act in their clients' best interest and disclose all fees and compensation to the borrower.

 

Passage of this bill would protect future homeowners from many of the unscrupulous practices that caused our current economic crisis.

This bill must pass out of Senate subcommittee (Senators Olive, Stewart and Kettering) to go to full Commerce committee before being eligible to debate on the floor. Tell your senator to support this bill when it comes up for debate.


View Current description of HF375 from the Iowa Legislature.
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