Idaho Code > Title 1 > Chapter 7 – District Courts
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Terms Used In Idaho Code > Title 1 > Chapter 7 - District Courts
- Agent: means a person who acts with the consent and on behalf of a licensee and is subject to the licensee's direct or indirect control and may include an independent contractor. See Idaho Code 26-31-201
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- 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
- Chambers: A judge's office.
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- Control person: means a person who:
Idaho Code 26-31-102Conviction: A judgement of guilt against a criminal defendant. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Decedent: A deceased person. Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Deficiency: means information contained in, or omitted from, an application for a mortgage broker, mortgage lender, or mortgage loan originator license that causes the application to be inaccurate, incomplete, or otherwise not in conformance with the provisions of this chapter, any rule promulgated or order issued under this chapter, application instructions published by the director or the provisions of the NMLSR policy guidebook. See Idaho Code 26-31-102 Department: means the department of finance of the state of Idaho. See Idaho Code 26-31-102 Director: means the director of the department of finance. See Idaho Code 26-31-102 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Donee: The recipient of a gift. Donor: The person who makes a gift. Donor: includes , but is not limited to, any food establishment, farmer, processor, distributor, wholesaler or retailer of perishable or nonperishable food. See Idaho Code 6-1301 Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Escrow: Money given to a third party to be held for payment until certain conditions are met. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Fiduciary: A trustee, executor, or administrator. Financial services: means any activity pertaining to securities, commodities, banking, insurance, consumer lending, money services businesses, consumer debt management, or real estate including, but not limited to, acting as or being associated with a bank or savings association, credit union, farm credit system institution, mortgage lender, mortgage broker, real estate salesperson or agent, appraiser, closing agent, title company, escrow agent, payday lender, money transmitter, check casher, pawnbroker, collection agent, debt management company, title lender, or credit repair organization. See Idaho Code 26-31-102 Firewood gatherer: means a person who enters onto forest land with or without the consent of the owner of the forest land or by payment of a fee in order to gather or cut wood for use as firewood. See Idaho Code 6-1501 Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances: Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Forest land: means any privately owned land being held and used for the continuous purpose of growing and harvesting trees of a marketable species. See Idaho Code 6-1501 Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC Fraud: Intentional deception resulting in injury to another. Gleaner: means a person who harvests for free distribution perishable food that has been donated by the owner. See Idaho Code 6-1301 Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted. Housing finance agency: means any entity that is:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
Idaho Code 26-31-102Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate. Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Intestate: Dying without leaving a will. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Licensee: means a person licensed pursuant to this chapter to engage in the activities regulated by this chapter. See Idaho Code 26-31-102 Lien: A claim against real or personal property in satisfaction of a debt. Loan modification: means an adjustment or compromise of an existing residential mortgage loan. See Idaho Code 26-31-201 Loan modification activities: means , for compensation or gain or in the expectation of compensation or gain, engaging in or offering to engage in effecting loan modifications in this state. See Idaho Code 26-31-201 Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage broker: means any nonexempt organization that performs the activities described in subsection (5) of this section, with respect to a residential mortgage loan. See Idaho Code 26-31-201 Mortgage brokering activities: means , for compensation or gain or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept an application for a residential mortgage loan, assisting or offering to assist in the preparation of an application for a residential mortgage loan on behalf of a borrower, negotiating or offering to negotiate the terms or conditions of a residential mortgage loan with any person making residential mortgage loans, or engaging in loan modification activities on behalf of a borrower. See Idaho Code 26-31-201 Mortgage lender: means any nonexempt organization that makes residential mortgage loans to borrowers and performs the activities described in subsection (7) of this section. See Idaho Code 26-31-201 Mortgage lending activities: means , for compensation or gain or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept applications for residential mortgage loans, or assisting or offering to assist in the preparation of an application for a residential mortgage loan, or servicing a residential mortgage loan on behalf of any person. See Idaho Code 26-31-201 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) 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 Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose. Oath: A promise to tell the truth. Organization: means a person that is not a natural person. See Idaho Code 26-31-102 Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Perishable food: includes , but is not limited to, fresh or processed meats, poultry, seafood, dairy products, bakery products, eggs in the shell, fresh fruits or vegetables, foods that have been packaged, refrigerated or frozen and unserved food of any kind which has been prepared by or for a food establishment. See Idaho Code 6-1301 person: includes a corporation as well as a natural person;
Idaho Code 73-114Person: means a natural person, corporation, company, limited liability company, partnership or association. See Idaho Code 26-31-102 Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 Personal property: All property that is not real property. Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer. 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 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Service of process: The service of writs or summonses to the appropriate party. Servicing: means collecting payments of principal, interest, or any other payment obligations required pursuant to the terms of a residential mortgage loan. See Idaho Code 26-31-201 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. 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 State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Idaho Code 15-2-1102 Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. Testator: A male person who leaves a will at death. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trustee: A person or institution holding and administering property in trust. Unique identifier: means a number or other identifier assigned by protocols established by the NMLSR. See Idaho Code 26-31-102 Verdict: The decision of a petit jury or a judge. Will: includes a codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian, or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. See Idaho Code 15-2-1102