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Idaho Amends Mortgage Practices Laws Impacting Servicers

On March 11, 2020, Idaho enacted House Bill 401. The new legislation makes revisions to several laws affecting mortgage practices. Importantly, the new legislation subject servicers, who were generally not previously required to be licensed under the Idaho’s Residential Mortgage Practices Act (“RMPA”), to be licensed. The new legislation adds new provisions to RMPA including a provision governing MLOs temporary authority to originate.

If you have any questions concerning this new legislation, please contact Solomon Maman.

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