Rod Reed, Craig Christenson
IOWA DIVISION OF BANKING
200 EAST GRAND AVE, SUITE 300
DES MOINES, IA 50309
515/281-4014 FAX: 515/281-4862 281-7688

IOWA, MORTGAGE BROKER LICENSING REQUIREMENTS:A mortgage broker license authorized the licensee to arrange or negotiate, or attempt to arrange or negotiate, first mortgage loans or commitments for such loans on residential real property located in Iowa. Bond: $15,000; NO PHYSICAL OFFICE REQUIRED, NO EXAM, NO LOAN OFFICER LICENSES, NO FINGER PRINT CARDS

Please be aware that if the loan documents list you as the lender, you will need a mortgage banker license. Iowa Code does not authorize mortgage brokers to make loans in Iowa, therefore, they cannot be listed as the lender on the loan documents. Also, note mortgage bankers and brokers have a legal requirement to deliver financial statements certified by an independent accounting firm within 120 days after the end of the company's fiscal year. We require "audited" financial statements for mortgage bankers and either "audited" or "reviewed" financial statements for mortgage brokers.