TITLE 26

BANKS AND BANKING

CHAPTER 31

IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT

PART 3.

PROVISIONS APPLICABLE TO MORTGAGE LOAN ORIGINATORS

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.]