Iowa Code 515C.11 – Mortgages secured by first lien on real estate
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 515C.11
- Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
- Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
A mortgage guaranty insurer in addition to coverage provided under section 515C.5 may insure mortgages secured by first lien upon improved real estate which is used for commercial purposes, except for those types of commercial properties specifically excluded by the commissioner of insurance.