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H0584...........................................................by BUSINESS RESIDENTIAL MORTGAGE PRACTICES - Amends existing law to prohibit certain unlicensed persons from engaging in mortgage brokering activities, mortgage lending activities or loan origination activities. 02/08 House intro - 1st rdg - to printing 02/09 Rpt prt - to Bus 02/22 Rpt out - rec d/p - to 2nd rdg 02/23 2nd rdg - to 3rd rdg 02/27 3rd rdg - PASSED - 66-1-3 AYES -- Andrus, Barraclough, Barrett, Bastian, Bayer, Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Brackett, Bradford, Cannon, Chadderdon, Clark, Collins, Crow, Deal, Denney, Edmunson, Ellsworth, Eskridge, Field(18), Field(23), Garrett, Hart, Harwood, Henbest, Henderson, Jaquet, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews, McGeachin, Miller, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche, Rydalch, Sali(Sali), Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills, Mr. Speaker NAYS -- McKague Absent and excused -- Anderson, Mitchell, Wood Floor Sponsor - Collins Title apvd - to Senate 02/28 Senate intro - 1st rdg - to Com/HuRes 03/08 Rpt out - rec d/p - to 2nd rdg 03/09 2nd rdg - to 3rd rdg 03/14 3rd rdg - PASSED - 35-0-0 AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett, Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis, Fulcher, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams NAYS -- None Absent and excused -- None Floor Sponsor - Goedde Title apvd - to House 03/15 To enrol 03/16 Rpt enrol - Sp signed 03/17 Pres signed - To Governor 03/22 Governor signed Session Law Chapter 123 Effective: 03/22/06
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature Second Regular Session - 2006IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 584 BY BUSINESS COMMITTEE 1 AN ACT 2 RELATING TO RESIDENTIAL MORTGAGE PRACTICES; AMENDING SECTION 26-3104, IDAHO 3 CODE, TO PROHIBIT CERTAIN UNLICENSED PERSONS FROM ENGAGING IN MORTGAGE 4 BROKERING ACTIVITIES, MORTGAGE LENDING ACTIVITIES OR LOAN ORIGINATION 5 ACTIVITIES; AND DECLARING AN EMERGENCY. 6 Be It Enacted by the Legislature of the State of Idaho: 7 SECTION 1. That Section 26-3104, Idaho Code, be, and the same is hereby 8 amended to read as follows: 9 26-3104. UNLAWFUL ACTS. (1) Any person, except a person exempt under sec- 10 tion 26-3103, Idaho Code, who engages in mortgage brokering or mortgage lend- 11 ing activities without first obtaining a mortgage broker or mortgage lender 12 license in accordance with this chapter, shall be guilty of a felony. 13 (2) Any person, not exempt under section 26-3103, Idaho Code, who engages 14 in loan origination activities without first obtaining a loan originator 15 license in accordance with this chapter, shall be guilty of a felony. 16 (3) No person, except a person exempt under section 26-3103, Idaho Code, 17 shall engage in mortgage brokering activities, mortgage lending activities, or 18 loan origination activities without first obtaining a license from the depart- 19 ment in accordance with this chapter. 20 SECTION 2. An emergency existing therefor, which emergency is hereby 21 declared to exist, this act shall be in full force and effect on and after its 22 passage and approval.
STATEMENT OF PURPOSE RS 15344C1 The purpose of this bill is to amend the Idaho Residential Mortgage Practices Act to definitively establish that engaging in mortgage brokering, mortgage lending, or mortgage loan origination activities in Idaho without a license is a violation of the Act. FISCAL NOTE No fiscal impact CONTACT Name: Mike Larsen Agency: Finance, Dept. of Phone: 332-8060 STATEMENT OF PURPOSE/FISCAL NOTE H 584