reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 1 - GENERAL PROVISIONS › Section 26-31-114 - REVOCATION OF LICENSE FOR PAYMENT FROM MORTGAGE RECOVERY FUND.

26-31-114. REVOCATION OF LICENSE FOR PAYMENT FROM MORTGAGE RECOVERY FUND. (1) The director may summarily revoke a license issued under this chapter if the director is required by court order under section 26-31-112, Idaho Code, to make a payment from the mortgage recovery fund based on a money judgment that includes findings of violations of this chapter by such licensee.
(2) A person whose license has been revoked under subsection (1) of this section is not eligible to be considered for the issuance of a new license under this chapter until the person has repaid in full, plus interest at the current legal rate, the amount paid from the mortgage recovery fund resulting from that person’s violation of this chapter.
(3) This section does not limit the authority of the director to take disciplinary action against a licensee under this chapter for a violation of this chapter or of rules promulgated or orders issued pursuant to this chapter. The repayment in full to the mortgage recovery fund of all obligations of a licensee under this chapter does not nullify or modify the effect of any other disciplinary proceeding brought under this chapter.
History:
[26-31-114, added 2009, ch. 97, sec. 2, p. 288.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-201 - DEFINITIONS.

26-31-201. DEFINITIONS. As used in this part and in rules promulgated pursuant to this chapter and pertinent to this part:
(1) "Agent" means a person who acts with the consent and on behalf of a licensee and is subject to the licensee’s direct or indirect control and may include an independent contractor.
(2) "Loan modification" means an adjustment or compromise of an existing residential mortgage loan. The term "loan modification" does not include a refinancing transaction.
(3) "Loan modification activities" means, for compensation or gain or in the expectation of compensation or gain, engaging in or offering to engage in effecting loan modifications in this state. The definition of "debt counselor" or "credit counselor" in section 26-2222(9), Idaho Code, shall not apply to loan modification activities.
(4) "Mortgage broker" means any nonexempt organization that performs the activities described in subsection (5) of this section, with respect to a residential mortgage loan.
(5) "Mortgage brokering activities" means, for compensation or gain or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept an application for a residential mortgage loan, assisting or offering to assist in the preparation of an application for a residential mortgage loan on behalf of a borrower, negotiating or offering to negotiate the terms or conditions of a residential mortgage loan with any person making residential mortgage loans, or engaging in loan modification activities on behalf of a borrower.
(6) "Mortgage lender" means any nonexempt organization that makes residential mortgage loans to borrowers and performs the activities described in subsection (7) of this section.
(7) "Mortgage lending activities" means, for compensation or gain or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept applications for residential mortgage loans, or assisting or offering to assist in the preparation of an application for a residential mortgage loan, or servicing a residential mortgage loan on behalf of any person.
(8) "Servicing" means collecting payments of principal, interest, or any other payment obligations required pursuant to the terms of a residential mortgage loan.
History:
[26-31-201, added 2009, ch. 97, sec. 2, p. 288; am. 2013, ch. 64, sec. 3, p. 144; am. 2020, ch. 100, sec. 4, p. 262.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-202 - EXEMPTIONS.

26-31-202. EXEMPTIONS. The provisions of this part do not apply to:
(1) Agencies of the United States and agencies of this state and its political subdivisions;
(2) An owner of real property who offers credit secured by a contract of sale, mortgage, or deed of trust on the property sold;
(3) A loan that is made by a person to an employee of that person if the proceeds of the loan are used to assist the employee in meeting his housing needs;
(4) Regulated lenders licensed under the Idaho credit code and regularly engaged in making regulated consumer loans other than those secured by a security interest in real property;
(5) Trust companies as defined in section 26-3203, Idaho Code;
(6) Any person licensed or chartered under the laws of any state or of the United States as a bank, savings and loan association, credit union, or industrial loan company. The terms "bank," "savings and loan association," "credit union," and "industrial loan company" shall include employees and agents of such organizations as well as wholly owned subsidiaries of such organizations, provided that the subsidiary is regularly examined by the chartering state or federal agency for consumer compliance purposes;
(7) Attorneys duly authorized to practice in this state, to the extent that they are retained by their clients to engage in activities authorized by this part and such activities are ancillary to the attorney’s representation of the client;
(8) Accountants with an active license under chapter 2, title 54, Idaho Code, provided that they are retained by their clients to engage in activities authorized by this part and such activities are ancillary to the representation of the client;
(9) Persons employed by, or who contract with, a licensee under this part to perform only clerical or administrative functions on behalf of such licensee and who do not solicit borrowers or negotiate the terms of loans on behalf of the licensee;
(10) Any person not making more than five (5) residential mortgage loans with his own funds for his own investment, in any period of twelve (12) consecutive months; or
(11) Any person who funds a residential mortgage loan that has been originated and processed by a licensee under this part or by an exempt person under this part, who does not directly or indirectly solicit borrowers in this state for the purpose of making residential mortgage loans, and who does not participate in the negotiation of residential mortgage loans with the borrower. For the purpose of this subsection, "negotiation of residential mortgage loans" does not include setting the terms under which a person may buy or fund a residential mortgage loan originated by a licensee under this part or an exempt person under this part.
History:
[26-31-202, added 2009, ch. 97, sec. 2, p. 289; am. 2013, ch. 64, sec. 4, p. 144; am. 2020, ch. 100, sec. 5, p. 263.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-203 - UNLAWFUL ACTS.

26-31-203. UNLAWFUL ACTS. (1) Any person, except a person exempt under section 26-31-202, Idaho Code, who engages in mortgage brokering activities or mortgage lending activities without first obtaining a license from the department in accordance with this part, shall upon conviction be guilty of a felony.
(2) No person, except a person exempt under section 26-31-202, Idaho Code, shall engage in mortgage brokering activities or mortgage lending activities without first obtaining a license from the department in accordance with this part.
History:
[26-31-203, added 2009, ch. 97, sec. 2, p. 289.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-204 - POWERS AND DUTIES OF DIRECTOR.

26-31-204. POWERS AND DUTIES OF DIRECTOR. In addition to any other duties imposed upon the director by law, the director shall:
(1) Administer and enforce the provisions and requirements of this part;
(2) Conduct investigations and issue subpoenas as necessary to determine whether a person has violated any provision of this part or rules promulgated pursuant to this chapter and pertinent to this part;
(3) Conduct examinations of the books and records of mortgage broker and mortgage lender licensees and conduct investigations as necessary and proper for the enforcement of the provisions of this part and the rules promulgated pursuant to this chapter and pertinent to this part;
(4) Appoint a volunteer advisory board of up to five (5) individual mortgage industry participants who are licensed or registered through the NMLSR, no less than two (2) of whom represent licensed mortgage brokers and no less than two (2) of whom represent licensed mortgage lenders;
(5) Pursuant to chapter 52, title 67, Idaho Code, issue orders and promulgate rules that, in the opinion of the director, are necessary to execute, enforce and effectuate the purposes of this part;
(6) Be authorized to set, by annual written notification to mortgage broker and mortgage lender licensees, limits on the fees and charges which are set forth in subsections (1) and (2) of section 26-31-210, Idaho Code; and
(7) Review and approve forms used by mortgage broker and mortgage lender licensees prior to their use as prescribed by the director.
History:
[26-31-204, added 2009, ch. 97, sec. 2, p. 290; am. 2013, ch. 64, sec. 5, p. 145.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-205 - REMEDIES AVAILABLE TO THE DEPARTMENT.

26-31-205. REMEDIES AVAILABLE TO THE DEPARTMENT. (1) Whenever it appears to the director that any person subject to this part has engaged in or is about to engage in any act or practice constituting a violation of any provision of the truth in lending act, the real estate settlement procedures act, regulation X, regulation Z or of this part or any rule promulgated or order issued under this act and pertinent to this part, he may in his discretion bring an action in any court of competent jurisdiction, and upon a showing of any violation, there shall be granted any or all of the following:
(a) A writ or order restraining or enjoining, temporarily or permanently, any act or practice violating any provision of this part or any rule promulgated or order issued under this chapter and pertinent to this part, and to enforce compliance with this part or any rule promulgated or order issued under this chapter and pertinent to this part;
(b) An order that the person violating any provision of this part, or a rule promulgated or order issued under this chapter and pertinent to this part pay a civil penalty to the department in an amount not to exceed twenty-five thousand dollars ($25,000) for each violation;
(c) An order allowing the director to recover costs which may include investigative expenses and attorney’s fees;
(d) An order granting a declaratory judgment that a particular act, practice or method is a violation of the provisions of this part;
(e) An order granting other appropriate remedies including restitution to borrowers for excess charges or actual damages.
(2) If the director finds that a person subject to this part has violated, is violating, or that there is reasonable cause to believe that a person is about to violate the provisions of this part, or any rule promulgated or order issued under this chapter and pertinent to this part, the director may, in his discretion, order the person to cease and desist from the violations.
History:
[26-31-205, added 2009, ch. 97, sec. 2, p. 290.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-209 - EXAMINATION AND INVESTIGATIONS.

26-31-209. EXAMINATION AND INVESTIGATIONS. (1) The director shall examine periodically at intervals he deems appropriate, the loans and business records of each licensee under this part. In addition, for the purpose of discovering violations of the provisions of this part or securing information lawfully required pursuant to this part, the director may at any time investigate the loans, business, books and records of any such licensee. For these purposes, the director shall have free and reasonable access to the offices, places of business and books and records of the licensee. The director, for purposes of examination of licensees under this part, shall be paid the actual cost of examination by such licensee within thirty (30) days of the completion of the examination.
(2) If the records of a licensee under this part are located outside of this state, the licensee shall have the option to make such records available to the director at a convenient location within this state, or pay the reasonable and necessary expenses for the director or his representative to examine such records at the place where they are maintained. The director may designate representatives, including comparable officials of the state in which the records are located, to inspect such records on his behalf.
(3) For the purposes of this section, the director may administer oaths or affirmations, and upon his own motion or upon request of any party, may subpoena witnesses, compel their attendance, adduce evidence and require the production of any matter which is relevant to the investigation, including the existence, description, nature, custody, condition, and location of any books, documents, or other tangible things and the identity and location of persons having knowledge of relevant facts, or any other matter reasonably calculated to lead to the discovery of admissible evidence.
(4) If the director has a reasonable basis to believe that an unlicensed person is engaging in activities for which a license is required under this part, then the director may subpoena the person or any employee, member, officer, representative or agent that has possession, custody or care of the books and records of the person to compel their attendance, adduce evidence and require the production of any matter that is relevant to the investigation, including the existence, description, nature, custody, condition and location of any books, documents or other tangible things and the identity and location of persons having knowledge of relevant facts or any other matter reasonably calculated to lead to the discovery of admissible evidence.
(5) Upon failure to obey a subpoena or to give testimony and upon reasonable notice to all persons affected thereby, the director may apply to the district court for an order compelling compliance.
History:
[26-31-209, added 2009, ch. 97, sec. 2, p. 294; am. 2013, ch. 64, sec. 9, p. 150.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-210 - RESTRICTIONS ON FEES AND CHARGES.

26-31-210. RESTRICTIONS ON FEES AND CHARGES. (1) A person subject to this part shall not require a borrower or person seeking a loan modification to pay any fees or charges prior to a residential mortgage loan closing, or prior to the completion of a loan modification, except:
(a) Charges actually incurred by the person subject to this part on behalf of the borrower or person seeking a loan modification for services which have been rendered by third parties. These fees may include, but are not limited to, fees for credit reports, flood insurance certifications, property inspections, title insurance commitments, UCC-4 lien searches and appraisals;
(b) An application fee;
(c) A rate-lock fee;
(d) A commitment fee upon approval of the residential mortgage loan;
(e) A cancellation fee which may be charged and collected by a person subject to this part at any time either prior to the scheduled closing of a residential mortgage loan transaction, completion of a loan modification or subsequent thereto.
(2) Any fees charged under the authority of this section must be reasonable and customary as to the type and the amount of the fee charged.
History:
[26-31-210, added 2009, ch. 97, sec. 2, p. 295.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-211 - PROHIBITED PRACTICES OF MORTGAGE BROKERS AND MORTGAGE LENDERS.

26-31-211. PROHIBITED PRACTICES OF MORTGAGE BROKERS AND MORTGAGE LENDERS. No mortgage broker or mortgage lender licensee under this part or person required under this part to have such license shall:
(1) Obtain any exclusive dealing or exclusive agency agreement from any borrower;
(2) Delay closing of any residential mortgage loan for the purpose of increasing interest, costs, fees or charges payable by the borrower;
(3) Accept any fees at closing that were not previously disclosed fully to the borrower;
(4) Obtain any agreement or instrument in which blanks are left to be filled in after signing by a borrower;
(5) Engage in any misrepresentation or omission of a material fact in connection with a residential mortgage loan;
(6) Make payment, whether directly or indirectly, of any kind to any in-house or fee appraiser for the purpose of influencing the independent judgment of the appraiser with respect to the value of any residential real property that is to be covered by a residential mortgage loan;
(7) Make any false promise likely to influence or persuade, or pursue a course of misrepresentations and false promises through mortgage loan originators or other agents or through advertising or otherwise;
(8) Misrepresent, circumvent or conceal, through whatever subterfuge or device, any of the material terms of a residential mortgage loan transaction;
(9) Enter into any agreement, with or without the payment of a fee, to fix in advance a particular interest rate or other term in a residential mortgage loan unless written confirmation of the agreement is delivered to the borrower as required by rule promulgated pursuant to this chapter and pertinent to this part;
(10) Engage in mortgage loan origination activity through any person who at the time of such mortgage loan origination activity does not hold a mortgage loan originator license issued by the department or temporary authority pursuant to this chapter; or
(11) Receive a fee for engaging in loan modification activities except pursuant to a written agreement between the person subject to this part and a person seeking a loan modification. The written agreement must specify the amount of the fee that will be charged to the person seeking a loan modification, specify the terms of the loan for which modification will be sought and disclose the expected impact of the loan modification on the monthly payment and length of the loan.
History:
[26-31-211, added 2009, ch. 97, sec. 2, p. 295; am. 2013, ch. 64, sec. 10, p. 151; am. 2020, ch. 100, sec. 8, p. 267.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-212 - RESERVE ACCOUNTS.

26-31-212. RESERVE ACCOUNTS. (1) A mortgage lender shall, conspicuously and specifically, disclose to each borrower all contractual provisions relating to reserve accounts, impound accounts, escrow accounts, or any other account maintained for the borrower in order to pay for property taxes, property insurance, or private mortgage insurance.
(2) Except as otherwise required by the truth in lending act, the real estate settlement procedures act, regulation X, or regulation Z, a mortgage lender shall not keep more than one hundred twenty percent (120%) of the amounts necessary on an annual basis to pay expected insurance, taxes, or other agreed charges. Upon written notice by a borrower to the mortgage lender that reserves being required are excessive, the mortgage lender must, within thirty (30) days, either refund the excess or explain to the borrower why the amounts being required are believed to be reasonable and necessary. If, after notice of hearing under chapter 52, title 67, Idaho Code, the director determines that the reserve account, impound account, escrow account, or any other similar account maintained for a borrower is not reasonable, the director may order the mortgage lender to reduce its reserve requirements for such accounts. In any proceeding under this section, the burden shall be upon the mortgage lender to prove that the amounts required for such reserve accounts are based upon actual and reasonably anticipated charges.
History:
[26-31-212, added 2020, ch. 100, sec. 9, p. 268.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-213 - ANNUAL STATEMENTS.

26-31-213. ANNUAL STATEMENTS. (1) A mortgage lender shall deliver to the borrower at least annually, during the month of January, a statement of the borrower’s account showing the date and amount of all payments made or credited to the account for the immediately preceding twelve (12) month period and the total unpaid balance. The statement shall also clearly describe in full the amounts received on all tax and insurance reserve accounts, the disposition of such funds, and the amounts held in reserve in such accounts. The statement shall clearly indicate any penalty or interest payments because of failure to pay taxes on time. A fee shall not be charged to the borrower for the statements.
(2) A borrower may request additional statements from a mortgage lender at any time, and the mortgage lender may, unless otherwise prohibited by law, require a fee to provide each such statement. The statement shall be delivered to the borrower within thirty (30) days after receipt of a written request from the borrower.
History:
[26-31-213, added 2020, ch. 100, sec. 10, p. 269.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 2 - PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS › Section 26-31-214 - NOTICE OF TRANSFER.

26-31-214. NOTICE OF TRANSFER. Except as otherwise provided for in the truth in lending act, the real estate settlement procedures act, regulation X, or regulation Z, a mortgage lender shall provide notice to the borrower within fifteen (15) days after any sale or assignment of the borrower’s residential mortgage loan to another person wherein the mortgage lender does not retain the loan servicing. A mortgage lender purchasing or receiving assignment of a residential mortgage loan with servicing shall provide to the borrower within thirty (30) days a written statement describing policies relating to the reserve account.
History:
[26-31-214, added 2020, ch. 100, sec. 11, p. 269.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-301 - TITLE.

26-31-301. TITLE. This part 3 of the chapter may be cited as the "Idaho Secure and Fair Enforcement for Mortgage Licensing Act" or the "Idaho S.A.F.E. Mortgage Licensing Act."
History:
[26-31-301, added 2009, ch. 97, sec. 2, p. 296; am. 2013, ch. 64, sec. 12, p. 152.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-302 - PURPOSE OF THIS PART.

26-31-302. PURPOSE OF THIS PART. (1) The activities of mortgage loan originators and the origination or offering of financing for residential real property have a direct, valuable and immediate impact upon Idaho consumers, Idaho’s economy, the neighborhoods and communities of Idaho, and the housing and real estate industry. The legislature finds that accessibility to mortgage credit is vital to the state’s citizens. The legislature also finds that it is essential for the protection of the citizens of Idaho and the stability of Idaho’s economy that reasonable standards for licensing and regulation of the business practices of mortgage loan originators be imposed. The legislature further finds that the obligations of mortgage loan originators to consumers in connection with originating or making residential mortgage loans are such as to warrant the regulation of the mortgage loan origination process. The purpose of this part is to protect consumers seeking mortgage loans and to ensure that the mortgage industry is operating without unfair, deceptive, and fraudulent practices on the part of mortgage loan originators. Therefore, the legislature establishes within this part an effective system of supervision of mortgage loan originators and enforcement authority, including:
(a) The authority of the director to issue licenses to conduct business under this part, and the authority to promulgate rules and adopt procedures necessary to the licensing of persons covered under this part;
(b) The authority of the director to deny, suspend, condition or revoke licenses issued under this part;
(c) The authority of the director to examine, investigate and conduct enforcement actions as necessary to carry out the intended purposes of this part, including the authority to subpoena witnesses and documents, enter orders, including cease and desist orders, order restitution and monetary penalties, and order the removal and ban of individuals from office or employment.
(2) The director shall have broad administrative authority to administer, interpret and enforce this part, and to promulgate rules and issue orders implementing this part, to carry out the intention of the legislature under this part.
History:
[26-31-302, added 2009, ch. 97, sec. 2, p. 296.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-307 - PRELICENSING AND RELICENSING EDUCATION OF MORTGAGE LOAN ORIGINATORS.

26-31-307. PRELICENSING AND RELICENSING EDUCATION OF MORTGAGE LOAN ORIGINATORS. (1) All individuals seeking a mortgage loan originator license under this part shall satisfy the prelicensing education requirement by completing at least twenty (20) hours of course instruction that has been approved by the NMLSR and administered by a provider approved by the NMLSR. Course instruction shall include:
(a) Three (3) hours minimum of instruction on federal law and regulation;
(b) Three (3) hours minimum of instruction on ethics, which shall include fraud, consumer protection and fair lending issues;
(c) Two (2) hours minimum of instruction on lending standards for the nontraditional mortgage product marketplace; and
(d) Two (2) hours minimum of instruction directly related to this chapter and rules promulgated pursuant to this chapter.
(2) Nothing in this section shall preclude any prelicensing education course approved by the NMLSR that is provided by the applicant’s employer, an entity affiliated with the applicant by an agency contract or any subsidiary or affiliate of such employer or entity.
(3) The prelicensing education may be completed in a classroom, online or by any other means approved by the NMLSR.
(4) The prelicensing education requirements approved by the NMLSR in subsection (1)(a) through (c) of this section for any state shall be accepted as credit toward completion of prelicensing education requirements in Idaho.
(5) An individual licensed prior to the effective date of this part who is applying to be relicensed shall submit proof that he has completed all of the continuing education requirements for the year in which the license was last held.
History:
[26-31-307, added 2009, ch. 97, sec. 2, p. 301.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-308 - TESTING OF MORTGAGE LOAN ORIGINATORS.

26-31-308. TESTING OF MORTGAGE LOAN ORIGINATORS. (1) All individuals seeking a mortgage loan originator license under this part shall satisfy the written test requirement by passing a qualified written test developed by the NMLSR and administered by a provider approved by the NMLSR based upon reasonable standards and subject to subsection (2) of this section.
(2) A written test shall not be deemed a qualified written test for purposes of subsection (1) of this section unless it tests the applicant’s knowledge and comprehension in the following subject areas:
(a) Ethics;
(b) Federal and state law and regulation pertaining to mortgage loan origination;
(c) Federal and state law and regulation pertaining to fraud, consumer protection, the nontraditional mortgage marketplace and fair lending issues.
(3) Nothing in this section shall prohibit a test provider approved by the NMLSR from administering a written test at the applicant’s place of employment, at the location of any subsidiary or affiliate of the applicant’s employer or at the location of any entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator.
(4) In order to pass a qualified written test, an individual must achieve a test score of not less than seventy-five percent (75%) correct answers to questions.
(5) An individual may retake a qualified written test two (2) times with each test occurring at least thirty (30) days after the preceding test. If an individual does not achieve a passing score on a qualified written test upon retake number two (2), then the individual shall wait at least six (6) months before retaking a written test.
(6) A mortgage loan originator who fails to maintain a valid license under this part for a period of five (5) years or longer shall, as a condition of obtaining a new license under this part, retake and pass a qualified written test, not taking into account any time during which such individual is a registered mortgage loan originator.
History:
[26-31-308, added 2009, ch. 97, sec. 2, p. 301; am. 2013, ch. 64, sec. 17, p. 157.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-309 - LICENSE RENEWAL AND REINSTATEMENT REQUIREMENTS.

26-31-309. LICENSE RENEWAL AND REINSTATEMENT REQUIREMENTS. (1) The minimum standards for license renewal for mortgage loan originators licensed under this part shall include the following:
(a) The mortgage loan originator continues to meet the minimum standards for license issuance pursuant to section 26-31-306, Idaho Code;
(b) The mortgage loan originator has satisfied the annual continuing education requirements pursuant to section 26-31-310, Idaho Code; and
(c) The mortgage loan originator has filed with the director through the NMLSR, on or before December 31 of each year, a renewal application containing such information as the director may require, accompanied by a nonrefundable annual license renewal fee of one hundred dollars ($100).
(2) If a mortgage loan originator fails to timely satisfy the provisions of subsection (1) of this section, notwithstanding the provisions of section 67-5254, Idaho Code, then his license automatically and immediately expires.
(3) The director may reinstate an expired license during the time period of January 1 through February 28, immediately following license expiration if the director finds that the former licensee meets the requirements for licensure under this part after submission to the director of:
(a) A complete application for renewal;
(b) The fees required to apply for license renewal unless previously paid for the period for which the license renewal applies; and
(c) A reinstatement fee of one hundred dollars ($100).
History:
[26-31-309, added 2009, ch. 97, sec. 2, p. 302; am. 2013, ch. 64, sec. 18, p. 158.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-310 - CONTINUING EDUCATION FOR MORTGAGE LOAN ORIGINATORS.

26-31-310. CONTINUING EDUCATION FOR MORTGAGE LOAN ORIGINATORS. (1) In order to meet the annual continuing education requirements, a licensed mortgage loan originator shall complete at least eight (8) hours of education each year, which shall include:
(a) Three (3) hours minimum of instruction on federal law and regulation;
(b) Two (2) hours minimum of instruction on ethics, including instruction on fraud, consumer protection and fair lending issues;
(c) Two (2) hours minimum of instruction on lending standards for the nontraditional mortgage product marketplace; and
(d) One (1) hour minimum of instruction directly related to this chapter and rules promulgated pursuant to this chapter.
(2) All continuing education courses and course providers shall be reviewed and approved by the NMLSR based upon reasonable standards.
(3) Nothing in this section shall preclude any approved education course that is provided by the mortgage loan originator’s employer or an entity which is affiliated with the mortgage loan originator by an agency contract or any subsidiary or affiliate of such employer or entity.
(4) Continuing education courses may be completed either in a classroom, online or by any other means approved by the NMLSR.
(5) A licensed mortgage loan originator may only receive credit for a continuing education course in the year in which the course is taken, except as provided in section 26-31-309(3), Idaho Code, and subsection (9) of this section, and may not take the same approved course in the same or successive years in order to meet the annual continuing education requirements.
(6) A licensed mortgage loan originator who is an approved instructor may receive credit toward his required annual continuing education hours at the rate of two (2) hours of credit for every one (1) hour of instruction of an approved continuing education course.
(7) An individual having successfully completed the continuing education requirements described in subsection (1)(a) through (c) of this section for any state shall be awarded credit toward completion of continuing education requirements in Idaho.
(8) A licensed mortgage loan originator who subsequently becomes unlicensed shall complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license.
(9) An individual meeting the requirements of section 26-31-309(1)(a) and (c), Idaho Code, may make up any deficiency in continuing education requirements as established by rule of the director.
History:
[26-31-310, added 2009, ch. 97, sec. 2, p. 302; am. 2013, ch. 64, sec. 19, p. 159.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-311 - AUTHORITY TO REQUIRE LICENSE AND REGISTRATION.

26-31-311. AUTHORITY TO REQUIRE LICENSE AND REGISTRATION. In addition to any other duties imposed upon the director by law, the director shall require mortgage loan originators to be licensed and registered through the NMLSR. In order to carry out this requirement the director is authorized to participate in the NMLSR. For this purpose, the director may establish by rule or order requirements for licensure as a mortgage loan originator, as necessary including, but not limited to:
(1) Background checks, to include:
(a) Criminal history, through fingerprint or other databases;
(b) Civil or administrative records;
(c) Credit history; and
(d) Any other information as deemed necessary by the NMLSR.
(2) The setting or resetting as necessary of renewal or reporting dates; and
(3) Requirements for amending or surrendering a license or any other such activities as the director deems necessary for participation in the NMLSR.
History:
[26-31-311, added 2009, ch. 97, sec. 2, p. 303.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-312 - NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY INFORMATION CHALLENGE PROCESS.

26-31-312. NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY INFORMATION CHALLENGE PROCESS. The director shall establish a process whereby mortgage loan originators may challenge the information entered into the NMLSR by the director.
History:
[26-31-312, added 2009, ch. 97, sec. 2, p. 303.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-313 - ENFORCEMENT AUTHORITY, VIOLATIONS AND PENALTIES.

26-31-313. ENFORCEMENT AUTHORITY, VIOLATIONS AND PENALTIES. (1) In order to ensure the effective supervision and enforcement of this part, the director may, pursuant to chapter 52, title 67, Idaho Code:
(a) Deny, suspend, revoke, condition or decline to renew a license for a violation of this chapter, or rule or order issued under this chapter;
(b) Deny, suspend, revoke, condition or decline to renew a license if an applicant or licensee under this part fails at any time to meet the requirements of section 26-31-306, Idaho Code, or section 26-31-309, Idaho Code, or withholds information or makes a material misstatement in an application for a license or renewal of a license;
(c) Deny, suspend, revoke, condition or decline to renew a license if the applicant has violated any state or federal law, rule or regulation pertaining to mortgage brokering, mortgage lending or loan origination activities;
(d) Order restitution against persons subject to this part for violations of this part;
(e) Impose penalties on persons subject to this part pursuant to subsections (2) through (4) of this section; and
(f) Issue orders under this part as follows:
(i) Order persons subject to this part to cease and desist from conducting business, including immediate temporary orders to cease and desist;
(ii) Order persons subject to this part to cease any harmful activities or violations of this part, including immediate temporary orders to cease and desist;
(iii) Enter immediate temporary orders to cease business under a license or interim license issued pursuant to this part, if the director determines that such license was erroneously granted or the licensee is currently in violation of this part;
(iv) Order such other affirmative action as the director deems necessary.
(2) The director may impose a civil penalty upon a mortgage loan originator or other person subject to this part if the director finds on the record, after notice and the opportunity for a hearing, that such mortgage loan originator or other person subject to this part has violated or failed to comply with any requirement of this part or any rule promulgated or order issued by the director under this chapter and pertinent to this part.
(3) The maximum amount of penalty for each act or omission described in subsection (2) of this section shall be twenty-five thousand dollars ($25,000).
(4) Each violation of this part, or failure to comply with any rule promulgated or order issued by the director under this chapter and pertinent to this part, is a separate and distinct violation or failure.
History:
[26-31-313, added 2009, ch. 97, sec. 2, p. 303.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-314 - REMEDIES AVAILABLE TO THE DEPARTMENT.

26-31-314. REMEDIES AVAILABLE TO THE DEPARTMENT. (1) If the director determines that a person subject to this part has engaged in or is about to engage in any act or practice constituting a violation of any provision of the truth in lending act, the real estate settlement procedures act, regulation X, regulation Z or of this part or any rule promulgated or order issued under this chapter and pertinent to this part, then the director may bring an action in any court of competent jurisdiction, and upon a showing of any violation, there shall be granted any or all of the following:
(a) A writ or order restraining or enjoining, temporarily or permanently, any act or practice violating any provision of this part or any rule promulgated or order issued under this chapter and pertinent to this part, and to enforce compliance with this part or any rule promulgated or order issued under this chapter and pertinent to this part;
(b) An order that the person violating any provision of this part, or a rule promulgated or order issued under this chapter and pertinent to this part pay a civil penalty to the department in an amount not to exceed twenty-five thousand dollars ($25,000) for each violation;
(c) An order allowing the director to recover costs, which may include investigative expenses and attorney’s fees;
(d) A declaratory judgment that a particular act, practice or method is a violation of the provisions of this part;
(e) Other appropriate remedies including restitution to borrowers.
(2) If the director finds that a person subject to this part has violated, is violating, or that there is reasonable cause to believe that a person is about to violate the provisions of this part, or any rule promulgated or order issued under this chapter and pertinent to this part, the director may, in his discretion, order the person to cease and desist from the violations.
History:
[26-31-314, added 2009, ch. 97, sec. 2, p. 304.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-315 - CONFIDENTIALITY.

26-31-315. CONFIDENTIALITY. In order to promote effective regulation and reduce regulatory burden through supervisory information sharing:
(1) Except as otherwise provided in section 1512, P.L. 110-289, the requirements under any federal law or chapter 1, title 74, Idaho Code, regarding the privacy or confidentiality of any information or material provided to the NMLSR, and any privilege arising under federal or Idaho state law, including the rules of any federal or Idaho state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the NMLSR. Such information and material may be shared with all state and federal regulatory officials having mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or chapter 1, title 74, Idaho Code.
(2) For these purposes, the director is authorized to enter into agreements or sharing arrangements with other governmental agencies, the conference of state bank supervisors, the American association of residential mortgage regulators or other associations representing governmental agencies as established by rule or order of the director.
(3) Information or material that is subject to a privilege or confidentiality under subsection (1) of this section shall not be subject to:
(a) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or
(b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the NMLSR with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege.
(4) Coordination with chapter 1, title 74, Idaho Code, relating to the disclosure of confidential supervisory information or any information or material described in subsection (1) of this section that is inconsistent with subsection (1) shall be superseded by the requirements of this section.
(5) This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the NMLSR for access by the public.
History:
[26-31-315, added 2009, ch. 97, sec. 2, p. 304; am. 2015, ch. 141, sec. 47, p. 416.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-318 - UNLAWFUL ACTS.

26-31-318. UNLAWFUL ACTS. Any person, not exempt under the provisions of this part, who engages in mortgage loan origination activities without first obtaining a mortgage loan originator license or without first registering as a mortgage loan originator in accordance with the requirements of this part, shall be guilty of a felony.
History:
[26-31-318, added 2009, ch. 97, sec. 2, p. 308.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-319 - NONFEDERALLY INSURED CREDIT UNIONS.

26-31-319. NONFEDERALLY INSURED CREDIT UNIONS. Nonfederally insured credit unions which employ loan originators, as defined in P.L. 110-289, shall register such loan originators with the NMLSR by furnishing the information concerning the loan originators’ identities set forth in section 1507(a)(2), P.L. 110-289.
History:
[26-31-319, added 2009, ch. 97, sec. 2, p. 308.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-320 - UNIQUE IDENTIFIER DISCLOSURE.

26-31-320. UNIQUE IDENTIFIER DISCLOSURE. The unique identifier of any person engaged in the origination of a residential mortgage loan shall be clearly displayed on all residential mortgage loan application forms, solicitations or advertisements, including business cards, websites and other forms of media, and any other document required by rule promulgated under this chapter or order issued by the director under this chapter and pertinent to this part.
History:
[26-31-320, added 2009, ch. 97, sec. 2, p. 308; am. 2013, ch. 64, sec. 21, p. 161.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 31 - IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT › Part 3 - PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS › Section 26-31-321 - SEVERABILITY.

26-31-321. SEVERABILITY. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of the remaining portions of this act.
History:
[26-31-321, added 2009, ch. 97, sec. 2, p. 308.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 32 - TRUST INSTITUTIONS — GENERAL PROVISIONS › Section 26-3201 - TITLE.

26-3201. TITLE. Chapters 32 through 36, title 26, Idaho Code, shall be known and may be cited as the "Idaho Trust Institutions Act."
History:
[26-3201, added 2000, ch. 288, sec. 8, p. 975.]
2023 Idaho Code › Title 26 - BANKS AND BANKING › Chapter 32 - TRUST INSTITUTIONS — GENERAL PROVISIONS › Section 26-3202 - PURPOSES OF THE ACT.

26-3202. PURPOSES OF THE ACT. The purposes of this act are to permit:
(1) State banks and state trust companies to engage in the trust business in this state; and
(2) Banks and other depository institutions, foreign banks and trust companies to engage in the trust business on a multistate and international basis to the extent consistent with the safety and soundness of the trust institutions engaged in a trust business in this state and the protection of consumers, clients and other customers of such trust institutions.
History:
[26-3202, added 2000, ch. 288, sec. 8, p. 975.]