The provisions of this part do not apply to:
(1) Agencies of the United States and agencies of this state and its political subdivisions;

Terms Used In Idaho Code 26-31-202

  • 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 26-31-303(7), Idaho Code, are conducted. See Idaho Code 26-31-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
  • Person: means a natural person, corporation, company, limited liability company, partnership or association. See Idaho Code 26-31-102
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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(w) of the truth in lending act, located in Idaho, or on residential real estate. See Idaho Code 26-31-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(2) An owner of real property who offers credit secured by a contract of sale, mortgage, or deed of trust on the property sold;
(3) A loan that is made by a person to an employee of that person if the proceeds of the loan are used to assist the employee in meeting his housing needs;
(4) Regulated lenders licensed under the Idaho credit code and regularly engaged in making regulated consumer loans other than those secured by a security interest in real property;
(5) Trust companies as defined in section 26-3203, Idaho Code;
(6) Any person licensed or chartered under the laws of any state or of the United States as a bank, savings and loan association, credit union, or industrial loan company. The terms “bank,” “savings and loan association,” “credit union,” and “industrial loan company” shall include employees and agents of such organizations as well as wholly owned subsidiaries of such organizations, provided that the subsidiary is regularly examined by the chartering state or federal agency for consumer compliance purposes;
(7) Attorneys duly authorized to practice in this state, to the extent that they are retained by their clients to engage in activities authorized by this part and such activities are ancillary to the attorney’s representation of the client;
(8) Accountants with an active license under chapter 2, title 54, Idaho Code, provided that they are retained by their clients to engage in activities authorized by this part and such activities are ancillary to the representation of the client;
(9) Persons employed by, or who contract with, a licensee under this part to perform only clerical or administrative functions on behalf of such licensee and who do not solicit borrowers or negotiate the terms of loans on behalf of the licensee;
(10) Any person not making more than five (5) residential mortgage loans with his own funds for his own investment, in any period of twelve (12) consecutive months; or
(11) Any person who funds a residential mortgage loan that has been originated and processed by a licensee under this part or by an exempt person under this part, who does not directly or indirectly solicit borrowers in this state for the purpose of making residential mortgage loans, and who does not participate in the negotiation of residential mortgage loans with the borrower. For the purpose of this subsection, “negotiation of residential mortgage loans” does not include setting the terms under which a person may buy or fund a residential mortgage loan originated by a licensee under this part or an exempt person under this part.