2011 Idaho Code
TITLE 26 BANKS AND BANKING
CHAPTER 31 IDAHO RESIDENTIAL MORTGAGE PRACTICES ACT
PART 1. GENERAL PROVISIONS
26-31-102 GENERAL DEFINITIONS.
26-31-102. GENERAL DEFINITIONS. As used in this chapter and in rules promulgated pursuant to this chapter:
(1) "Borrower" means the person who has applied for a residential mortgage loan from a licensee, or person required to be licensed, under this chapter, or on whose behalf the activities set forth in section 26-31-201(3), (5) or (7), or section 26-31-303(6), Idaho Code, are conducted.
(2) "Department" means the department of finance of the state of Idaho.
(3) "Director" means the director of the department of finance.
(4) "Licensee" means a person licensed pursuant to this chapter to engage in the activities regulated by this chapter.
(5) "Nationwide mortgage licensing system and registry" or "NMLSR" means a mortgage licensing system developed and maintained by the conference of state bank supervisors and the American association of residential mortgage regulators for the licensing and registration of mortgage brokers, mortgage lenders and mortgage loan originators.
(6) "Person" means a natural person, corporation, company, limited liability company, partnership or association;[.]
(7) "Real estate settlement procedures act" means the act set forth in 12 U. S. C. section 2601 et seq., as identified by administrative rule.
(8) "Regulation X" means regulation X as promulgated by the U. S. department of housing and urban development and codified in 24 CFR part 3500 et seq., as identified by administrative rule.
(9) "Regulation Z" means regulation Z as promulgated by the board of governors of the federal reserve system and codified in 12 CFR part 226 et seq., as identified by administrative rule.
(10) "Residential mortgage loan" means any loan that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling, as defined in section 103(v) of the truth in lending act, located in Idaho, or on residential real estate.
(11) "Residential real estate" means any real property located in Idaho, upon which is constructed or intended to be constructed a dwelling as defined in section 103(v) of the truth in lending act.
(12) "Truth in lending act" means the act set forth in 15 U. S. C. section 1601 et seq., as identified by administrative rule.
(13) "Unique identifier" means a number or other identifier assigned by protocols established by the NMLSR.
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