# Idaho Code § 26-31-110: 26-31-110 FUNDING

> Idaho · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-110

## Section

- **Citation:** Idaho Code § 26-31-110
- **Heading:** 26-31-110 FUNDING
- **Jurisdiction:** Idaho
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Idaho Code / Title 26 / Chapter 31 / Section 26-31-110

## Text

PART 1.

GENERAL PROVISIONS

26-31-110. Funding. (1) Upon application for a mortgage broker, mortgage lender or mortgage loan originator license, and upon renewal of such licenses issued under this chapter, the applicant or person seeking renewal shall, in addition to paying the license application or renewal fee required under this chapter, pay a fee to the department through the NMLSR for deposit in the mortgage recovery fund as follows:

(a) Two hundred fifty dollars ($250) for home office locations of mortgage brokers and mortgage lenders licensed under part 2 of this chapter;

(b) One hundred fifty dollars ($150) for each branch office location of a mortgage broker or mortgage lender licensed under part 2 of this chapter; and

(c) One hundred dollars ($100) for each mortgage loan originator licensed under part 3 of this chapter.

(2) With respect to mortgage recovery fund fees payable at the time of annual license renewal for licensees under this chapter, the director may adjust the fees within the limits of subsection (1) of this section on a pro rata basis as necessary to maintain a balance of one million five hundred thousand dollars ($1,500,000) in the mortgage recovery fund, plus an additional amount of fifty thousand dollars ($50,000) as set forth in subsection (4) of this section.

(3) All interest that accrues in the mortgage recovery fund shall be added to the balance of the mortgage recovery fund.

(4) On an annual basis, the department may apply up to fifty thousand dollars ($50,000) of moneys accumulated in the mortgage recovery fund in excess of one million five hundred thousand dollars ($1,500,000) to:

(a) Fund the department's expenses in administering the mortgage recovery fund;

(b) Develop and implement consumer education concerning the residential mortgage industry;

(c) Contract for research projects for the state concerning the residential mortgage industry;

(d) Fund the training expenses of department staff members and its attorneys concerning the residential mortgage industry; and

(e) Publish and distribute educational materials to licensees and applicants for licensure under this chapter.

History:

[26-31-110, added 2009, ch. 97, sec. 2, p. 286.]

## 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)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T26_C31_S26-31-110. Check the current official text before relying on it. Not legal advice.