Idaho Code 26-31-107 – Charges for Participation in the Nmlsr
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 26-31-107
- Licensee: means a person licensed pursuant to this chapter to engage in the activities regulated by this chapter. See Idaho Code 26-31-102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- 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. See Idaho Code 26-31-102
Mortgage brokers, mortgage lenders and mortgage loan originators who seek to obtain or retain a license under this chapter shall pay the charges imposed and retained by the NMLSR to fund the expenses associated with an applicant’s or licensee‘s participation in the NMLSR.