# Idaho Code § 26-31-102: 26-31-102 GENERAL DEFINITIONS > Idaho · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-102 ## Section - **Citation:** Idaho Code § 26-31-102 - **Heading:** 26-31-102 GENERAL DEFINITIONS - **Jurisdiction:** Idaho - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Idaho Code / Title 26 / Chapter 31 / Section 26-31-102 ## Text PART 1. GENERAL PROVISIONS 26-31-102. GENERAL DEFINITIONS. As used in this chapter and in rules promulgated pursuant to this chapter: (1) "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. "Borrower" does not include an organization that, as part of a regular business of constructing or rehabilitating dwellings, makes application for a residential mortgage loan to finance the construction or rehabilitation of a dwelling. (2) "Control person" means a person who: (a) Has the power, directly or indirectly, to direct the management or policies of a company, including a managing member, general partner, director, executive officer, or other person occupying a similar position or performing similar functions or, in the case of a limited liability company, is a managing member; (b) Directly or indirectly has the right to vote ten percent (10%) or more of a class of a voting security of a mortgage broker or mortgage lender; or (c) Is an individual identified as a manager of a location for which an applicant is applying for a license under part 2 of this chapter. (3) "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. (4) "Department" means the department of finance of the state of Idaho. (5) "Director" means the director of the department of finance. (6) "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. (7) "Housing finance agency" means any entity that is: (a) Chartered by a state to help meet the affordable housing needs of the residents of the state; (b) Supervised, directly or indirectly, by the state government; and (c) Subject to audit and review by the state in which it operates. (8) "Licensee" means a person licensed pursuant to this chapter to engage in the activities regulated by this chapter. (9) "Nationwide mortgage licensing system and registry" or "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. (10) "NMLSR policy guidebook" means the conference of state bank supervisor's and the American association of residential mortgage regulator's NMLSR policy guidebook for licensees, published by the NMLSR, as identified by administrative rule. (11) "Organization" means a person that is not a natural person. (12) "Person" means a natural person, corporation, company, limited liability company, partnership or association. (13) "Real estate settlement procedures act" means the act set forth in 12 U.S.C. 2601 et seq., as identified by administrative rule. (14) "Regulation X" means regulation X as issued by the federal bureau of consumer protection and codified at 12 CFR 1024 et seq., as identified by administrative rule. a natural person, corporation, company, limited liability company, partnership or association. (13) "Real estate settlement procedures act" means the act set forth in 12 U.S.C. 2601 et seq., as identified by administrative rule. (14) "Regulation X" means regulation X as issued by the federal bureau of consumer protection and codified at 12 CFR 1024 et seq., as identified by administrative rule. (15) "Regulation Z" means regulation Z as issued by the federal bureau of consumer protection and codified at 12 CFR 1026 et seq., as identified by administrative rule. (16) "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. (17) "Residential real estate" means any real property located in Idaho upon which is constructed or intended to be constructed a dwelling as defined in section 103(w) of the truth in lending act. (18) "Truth in lending act" means the act set forth in 15 U.S.C. 1601 et seq., as identified by administrative rule. (19) "Unique identifier" means a number or other identifier assigned by protocols established by the NMLSR. History: [26-31-102, added 2009, ch. 97, sec. 2, p. 284; am. 2013, ch. 64, sec. 1, p. 142; am. 2015, ch. 244, sec. 10, p. 1012; am. 2020, ch. 100, sec. 3, p. 261.] ## Nearby sections - [Idaho Code § 26-31-101 26-31-101 SHORT TITLE AND SCOPE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-101.md) - [Idaho Code § 26-31-102 26-31-102 GENERAL DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-102.md) - [Idaho Code § 26-31-103 26-31-103 DIRECTOR'S AUTHORITY UNDER THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-103.md) - [Idaho Code § 26-31-104 26-31-104 BORROWER'S REMEDIES NOT AFFECTED.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-104.md) - [Idaho Code § 26-31-105 26-31-105 RELATIONSHIP TO OTHER LAWS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-105.md) - [Idaho Code § 26-31-106 26-31-106 FUNDS COLLECTED UNDER THIS CHAPTER.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-106.md) - [Idaho Code § 26-31-107 26-31-107 CHARGES FOR PARTICIPATION IN THE NMLSR.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-107.md) - [Idaho Code § 26-31-108 26-31-108 REPORT TO NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-108.md) - [Idaho Code § 26-31-109 26-31-109 MORTGAGE RECOVERY FUND.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-109.md) - [Idaho Code § 26-31-110 26-31-110 FUNDING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-110.md) - [Idaho Code § 26-31-111 26-31-111 STATUTE OF LIMITATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-111.md) - [Idaho Code § 26-31-112 26-31-112 PROCEDURE FOR RECOVERY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-112.md) - [Idaho Code § 26-31-113 26-31-113 RECOVERY LIMITS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-113.md) - [Idaho Code § 26-31-114 26-31-114 REVOCATION OF LICENSE FOR PAYMENT FROM MORTGAGE RECOVERY FUND.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-114.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-102. 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