Print Friendly HOUSE BILL NO. 584 – Mortgage brokering, license req’d
HOUSE BILL NO. 584
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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.
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
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN 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
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.
No fiscal impact
Name: Mike Larsen
Agency: Finance, Dept. of
STATEMENT OF PURPOSE/FISCAL NOTE H 584