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.

Terms Used In Idaho Code 26-31-311

  • Director: means the director of the department of finance. 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
(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.