http://www.jwsuretybonds.com/blog General to specific surety bond information, as well as current events within the industry. Thu, 02 Feb 2012 14:49:26 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-4 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-4#comments Tue, 09 Aug 2011 13:17:31 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=3104
Real estate closing agents must abide by new legislation in the state of Iowa. The Iowa Banking Division has modified its regulations to enact SB 2348 (2010). SB 2348 requires real estate closing agents to obtain a $25,000 surety bond in order to be licensed with the state but the Superintendent of the Division of Banking has the ability to require a larger bond. When it comes to mortgage brokers and mortgage bankers, the new law also requires the bond amount to be calculated by the amount of residential mortgage loans serviced; opposed to the current law which calculates the bond amount by the amount of residential mortgage loans made, originated, arranged, brokered, processed, and underwritten.

]]> http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-4/feed 0 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-3 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-3#comments Tue, 21 Sep 2010 13:14:49 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=2279 SB 2348 is a new bill that was enacted in the State of Iowa concerning real estate closing agents. The new bill requires real estate closing agents to acquire a $25,000 surety bond. SB 2348 authorizes the Superintendent of the Division of Banking to call for a larger surety bond quantity. The surety bond is conditioned on cooperation with the applicable legislation and policies. The surety bond quantity would have been $250,000 under the first draft of the bill. SB 2348 implements the SFAA’s suggestions on the bond amount.

]]> http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-3/feed 1 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-2 http://www.jwsuretybonds.com/blog/iowa-real-estate-closing-agent-bond-2#comments Fri, 11 Jun 2010 14:53:44 +0000 Eric Weisbrot http://www.jwsuretybonds.com/blog/?p=2069 SB 2348 is a new Iowa State law that was enacted relating to real estate closing agents. The new law requires real estate closing agents to be licensed and to acquire a $25,000 surety bond. SB 2348 authorizes the Superintendent of the Division of Banking to require a greater surety bond quantity. The surety bond would be conditioned on compliance with the applicable legislation and policies. The bill implements suggestions the SFAA offered regarding the surety bond amount. A study edition of this bill would have called for a $25,000 with the proviso that a greater quantity could be required through policy. The AIA local counsel implemented the suggestions to the bill sponsor and the subcommittee working on the law and the SFAA provisions were integrated in this bill.

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