§ 535d-17

535D.17 Prohibited acts and practices. It is a violation of this chapter for a person or individual subject to this chapter to engage in any of the following activities: 1. Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person. 2. Engage in any unfair or deceptive practice toward any person.3. Obtain property by fraud or misrepresentation.4. Solicit or enter into a contract with a borrower that provides in substance that the person or individual subject to this chapter may earn a fee or commission through best effortsto obtain a loan even though no loan is actually obtained for the borrower. 5. Solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising,or contracting. 6. Conduct any business covered by this chapter without holding a valid license as required under this chapter, or assist or aid and abet any person in the conduct of businessunder this chapter without a valid license as required under this chapter. 7.

ut holding a valid license as required under this chapter, or assist or aid and abet any person in the conduct of businessunder this chapter without a valid license as required under this chapter. 7. Fail to make disclosures as required by this chapter or any other applicable state or federal law including regulations thereunder. 8. Fail to comply with this chapter or rules or regulations promulgated under this chapter, or fail to comply with any other state or federal law, including the rules and regulationsthereunder, applicable to any business authorized or conducted under this chapter. 9. Make, in any manner, any false or deceptive statement or representation.10. Negligently make any false statement or knowingly and willfully make any omission of material fact in connection with any information or reports filed with a governmentalagency or the nationwide mortgage licensing system and registry or in connection with anyinvestigation conducted by the superintendent or another governmental agency. 11. Make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with aresidential

rnmental agency. 11. Make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with aresidential mortgage loan, or make any payment, threat, or promise, directly or indirectly, toany appraiser of a property, for the purposes of influencing the independent judgment of theappraiser with respect to the value of the property. 12. Collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge any fee prohibited by this chapter. 13. Cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer. 14. Fail to truthfully account for moneys belonging to a party to a residential mortgage loan transaction. 2009 Acts, ch 61, §18, 25Referred to in §535B.7A Sat Dec 23 01:38:43 2023 Iowa Code 2024, Section 535D.17 (16, 0)