Iowa Administrative Code
Agency 265 - IOWA FINANCE AUTHORITY
Chapter 2 - LOAN PROGRAMS
Rule 265-2.7 - Delinquency and foreclosure
Universal Citation: IA Admin Code 265-2.7
Current through Register Vol. 46, No. 19, March 20, 2024
Before the ninetieth day following the due date of the earliest unpaid installment of an authority mortgage loan, the administrative agent shall recommend either foreclosure or other appropriate servicing action based on the particular circumstances of each mortgage. The authority, upon determination that no other course of action will cure the delinquency, may direct the administrative agent to promptly initiate foreclosure proceedings.
This rule is intended to implement Iowa Code section 16.4(1).
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