House File 2035 - Introduced HOUSE FILE 2035 BY WESSEL-KROESCHELL A BILL FOR An Act requiring the provision of contact information on 1 mortgage-related correspondence, and making penalties 2 applicable. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5045YH (3) 85 rn/sc
H.F. 2035 Section 1. Section 535B.11, Code 2014, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 8. Provide complete and current contact 3 information, including a department name, hours of operation, 4 telephone number, mailing address, and electronic mail address, 5 on all written and verbal communication or correspondence 6 originating from the licensee or other mortgagee to the 7 mortgagor. 8 EXPLANATION 9 The inclusion of this explanation does not constitute agreement with 10 the explanation’s substance by the members of the general assembly. 11 This bill relates to communications between a mortgagee 12 servicing mortgages on residential real estate in Iowa and 13 mortgagors whose real property is the subject of the mortgage. 14 The bill requires a licensee or other mortgagee to provide 15 complete and current contact information, including a 16 department name, hours of operation, telephone number, mailing 17 address, and electronic mail address, on all written and 18 verbal communication or correspondence originating from the 19 licensee or mortgagee to the mortgagor. Failure to provide 20 this information could subject the licensee or mortgagee to 21 the penalty provisions of Code section 535B.13, including but 22 not limited to a civil penalty in the amount of $5,000 per 23 violation. 24 By operation of Code section 535B.2, the bill applies to 25 certain persons and entities otherwise exempt from Code chapter 26 535B. 27 -1- LSB 5045YH (3) 85 rn/sc 1/ 1