1. It is a discriminatory practice for any financial institution accepting mortgage loan applications to engage in the practice of red-lining as defined in section 535A.1.

Terms Used In Iowa Code 535A.2

  • Commissioner: means the commissioner of insurance. See Iowa Code 510.1B
  • financial institution: means the same as defined in section 527. See Iowa Code 547A.1
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
 2. This section shall be administered and enforced by the following agencies:

 a. The superintendent of banking or the superintendent’s designee in regard to banks, persons licensed under chapter 536A, and mortgage banking companies.
 b. The commissioner of insurance or the commissioner’s designee pursuant to chapter 505 in regard to all insurance companies.
 c. The superintendent of credit unions or the superintendent’s designee in regard to all credit unions.
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