{"id":"IA-071","kind":"order","level":"sector-regulator","jurisdiction":"Iowa","state":"IA","metro":"","industry":"","agency":"","eco":"","issuer":"Iowa Division of Banking (Finance Bureau Chief Rodney Reed)","authority":"Iowa Code chs. 535B, 535D, 536, 536A, 533D, 533C (licensed-location requirements); Governor\u0027s March 9, 2020 proclamation","instrument":"Regulatory Guidance for Working from Residence or Other Company Designated Location","title":"Guidance allowing licensed mortgage bankers, brokers, servicers and loan originators, regulated and industrial loan licensees, delayed deposit and money services businesses and their employees to work from residences or employer-designated locations that are not licensed locations","dateIssued":"2020-03-18","effective":"Immediately, until further notice","end":"Until further notice (the NMLS record shows it in force through 2020-21)","startDate":"2020-03-18","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["TELE","OTHER"],"addressees":["Iowa licensed and registered mortgage bankers, brokers, servicers and loan originators; regulated and industrial loan licensees; delayed deposit services and money services businesses"],"clause":"\u0027On March 14, Governor Reynolds announced that due to the detection of community spread Iowans should do their part to protect their health and the health of others by, among other things, considering working remotely.... While Iowa law generally requires that licensed mortgage bankers, mortgage brokers, mortgage servicers, mortgage loan originators, regulated and industrial loan companies, delayed deposit services businesses, and money services businesses conduct business only from a licensed location approved by the IDOB, this guidance (effective immediately and until further notice) expresses the intent of the IDOB to allow licensees and registrants, including licensed or registered mortgage loan originators, and their employees to work remotely from their residence or another location designated by the employer during the COVID-19 pandemic, even if the residence or designated location is not a licensed or registered location.... All licensed companies must have temporary policies, procedures, and a plan for supervision of employees in place.\u0027","enforcement":"Licensing law (Iowa Code chs. 535B et seq.) as modified by the guidance; licensees must adopt remote-work policies and supervision plans","functions":["ML mortgage lending operations moved to residences","OF/OP offices","CL consumer lending"],"notes":"Evidence of the regulator\u0027s own finding that remote work was the expected mode for Iowa\u0027s licensed lenders from March 18, 2020.","sourceUrl":"https://mortgage.nationwidelicensingsystem.org/NMLS%20Document%20Library/IA%20Guidance%20for%20Working%20Remotely%20-%20Coronavirus.pdf","snapshot":"","fileExists":true,"fileBytes":141201,"grade":"primary","character":"","description":"","collection":"IA","url":"/library/IA-071","exhibitUrl":"/exhibit/IA-071","citation":"Iowa Division of Banking (Finance Bureau Chief Rodney Reed), Regulatory Guidance for Working from Residence or Other Company Designated Location (Mar. 18, 2020) (Ex. IA-071)","stateName":"Iowa","related":["IA-070"]}