Iowa AG seeks jail time for bad mortgage bankers

The Iowa Bankers Mortgage Corporation (IBMC) Board of Directors held a productive meeting today at the IBA offices in Johnston. Members include Chairman Al Vermeer (Peoples Bank, Rock Valley), Scott Bauer (First National Bank, Ames), Don Coffin (Bankers Trust Company, Des Moines), Tim Finer (Hills Bank & Trust Company, Coralville), David Huser (First National Bank, Waverly), Curt Johnson.

Is this a bad thing. A first-time homebuyer seeking to borrow as much as possible with a low adjustable rate and an interest-only payment and no money down is an obvious red flag. This scenario.

Check company information for Iowa Bankers Mortgage Corp in Johnston , IA . Visit to access the business research you need.

 · Attorney General Eric Holder ruffled feathers in March when he indicated during Capitol Hill testimony that some financial institutions are "too big to jail." Holder later tried to backtrack amid a fierce public outcry. The controversy comes on the heels of claims by some critics that the DOJ and Obama administration have given the politically well-connected banking industry an undeserved free.

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a. See Iowa Code 535B.1; Mortgage broker: means a person who arranges or negotiates, or attempts to arrange or negotiate, at least four mortgage loans or commitments for four or more such loans on residential real property located in this state in a calendar year.See Iowa Code 535B.1; Mortgage loan: means a loan of money secured by a lien on residential real property and includes a refinancing.

Finance Bureau License Applications NMLS The Iowa Division of Banking (IDOB) is a part of the Nationwide mortgage licensing system (nmls). beginning January 2, 2008, companies and individuals must submit applications and amendments to licensing/registration information to IDOB through the NMLS.

IBMC’s Heritage Program provides your bank the opportunity to offer a variety of secondary market mortgage products by utilizing the expertise of the IBMC staff.. The Iowa Bankers Association (IBA) is dedicated to serving Iowa banks and their employees. learn more.

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Iowa AG Targets Predatory Lending, Subprime Lenders.. Included in the AG’s proposals is language that seeks to limit so-called "loan flipping," where a broker refinances a borrowers loan.

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