A person who, without first obtaining a license under this chapter, engages in the business or occupation of, or advertises or holds the person out as, or claims to be, or temporarily acts as, a mortgage loan originator in this state is guilty of a class “D” felony and may be prosecuted by the attorney general or a county attorney.
Iowa Code § 535D.20
Operating without a license — penalty
Known as the Iowa Secure and Fair Enforcement for Mortgage Licensing Act
The act spans §§ 535–535 (24 sections).
2009 Acts, ch 61, §21, 25
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.