(1) A person entitled to receive payment from the mortgage recovery fund may receive reimbursement of actual damages, which shall not include post judgment interest, reasonable attorney’s fees and court costs as determined by the court, subject to the limitations in subsection (2) of this section and subject to the availability of sufficient funds in the mortgage recovery fund at the time payment is ordered.
(2) A payment from the mortgage recovery fund may be made by the director only pursuant to a court order as provided by section 26-31-112, Idaho Code, in an amount equal to the unsatisfied portion of the creditor’s judgment or judgments or fifty thousand dollars ($50,000), whichever is less.
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Terms Used In Idaho Code 26-31-113

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Director: means the director of the department of finance. See Idaho Code 26-31-102
  • 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.
  • Person: means a natural person, corporation, company, limited liability company, partnership or association. See Idaho Code 26-31-102
(3) Payments from the mortgage recovery fund shall be limited in the aggregate to two hundred fifty thousand dollars ($250,000) against any one (1) licensee. If the total claims against such licensee exceed the aggregate limit of two hundred fifty thousand dollars ($250,000), the court shall prorate payment based on the ratio that a person’s claim bears to the other claims filed against such licensee.