H.F. _____ Section 1. Section 535.8, subsection 2, Code 2023, is 1 amended to read as follows: 2 2. If a lender that is a financial institution as defined 3 in section 537.1301 makes a loan in which the points and fees 4 the borrower is charged by all lenders in connection with 5 the loan do not exceed the amounts specified in 12 C.F.R. 6 §1026.43(e)(3), the loan shall not be subject to the provisions 7 of subsection 4 , paragraphs “a” , “b” , and “d” , or subsection 5 . 8 If a lender that is a mortgage banker licensed under section 9 535B.5 or registered under section 535B.3 makes a loan in which 10 the points and fees the borrower is charged by all lenders in 11 connection with the loan do not exceed the amounts specified 12 in 12 C.F.R. §1026.43(e)(3), the loan shall not be subject to 13 the provisions of subsection 5. This subsection applies to the 14 financial institution lender that originates the loan and to 15 subsequent purchasers of the loan originated by the financial 16 institution. 17 EXPLANATION 18 The inclusion of this explanation does not constitute agreement with 19 the explanation’s substance by the members of the general assembly. 20 This bill relates to specified loans provided by a mortgage 21 banker. 22 A loan made by a licensed or registered mortgage banker 23 under Code chapter 535B making a loan where the points and fees 24 the borrower is charged cumulatively do not exceed the amounts 25 specified in 12 C.F.R. §1026.43(e)(3) shall not be subject to 26 Code section 535.8(5), regarding loans and interest reduction 27 fees. 28 -1- LSB 2083YC (2) 90 es/rn 1/ 1