A mortgagee is not liable under section 655.3 if all of the following apply:
 1. The mortgagee established reasonable procedures to achieve compliance with its obligations under section 655.3.

Terms Used In Iowa Code 655.6

  • 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
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
 2. The mortgagee complied with that procedure in good faith.
 3. The mortgagee was unable to comply with its obligations because of circumstances beyond its control.
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