Iowa Code r. 187-19.10 - Independent contractor-loan processor or underwriter
(1) For the purpose of Iowa Code section
535D.4, "a loan processor or
underwriter who is an independent contractor" means any person who processes or
underwrites residential mortgage loans and is not a W-2 employee of a company
licensed under Iowa Code chapter 535B, 536, or 536A.
(2) An independent contractor must meet all
the licensure requirements found in rule
187-19.2 (17A,535D) with the
exception of subrule 19.2(8).
(3)
An independent contractor must meet the surety bond requirements found in
subrule 19.2(7) prior to the issuance of a license.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.