Regulatory Alerts2008-11-26
Added · Updated
Branch Licensure Requirements for Mortgage Brokerage Locations
The Idaho Department of Finance issued Policy Statement 2008-2 to supersede Virtual Branch Acknowledgements and enforce branch licensure requirements under the Idaho Residential Mortgage Practices Act. The policy prohibits loan originators from conducting mortgage brokering or lending activities at any business location that is not licensed by the Department. Licensees must cease holding out unlicensed addresses or contact methods as regular places of business and ensure all remote work locations are properly licensed.
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