265—9.3 (16) Mission. The mission of the division is to operate a program that offers guaranties of real property titles in order to provide, as an adjunct to the abstract-attorney’s title opinion system, a low-cost mechanism to facilitate mortgage lenders’ participation in the secondary market and add to the integrity of the land-title transfer system in the state of Iowa and to perform other duties as assigned by Iowa law. Surplus funds generated by the division shall be transferred to the authority’s housing assistance fund after providing for adequate reserves and for the operating expenses of the division.
[ARC 2506C, IAB 4/27/16, effective 6/1/16]