TITLE 26

BANKS AND BANKING

CHAPTER 31

IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT

PART 2.

PROVISIONS APPLICABLE TO MORTGAGE BROKERS AND MORTGAGE LENDERS

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.]