1. A financial institution that offers or makes an alternative mortgage loan shall include in any disclosure of the rates or availability of mortgage loans, the rates and availability of reverse annuity mortgages or graduated payment mortgage loans, ifand when such loans are offered. The administrator may prescribe by rule forms for the required disclosures. 2. A prospective mortgage loan applicant shall have the choice ofapplying for a mortgage loan or any type of alternative mortgage loan offered by the financial institution.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.