48-603F. MORTGAGE LOAN MODIFICATION FEES. (1) For purposes of this section, unless the context otherwise requires:
(a) "Fee" means any item of value including, but not limited to, goods or services.
(b) "Loan modification activities" is defined in section 26-31-201(3), Idaho Code.
(2) Charging or collecting any fee in connection with mortgage loan modification activities shall constitute a violation of the Idaho consumer protection act, unless the person charging or collecting such fees is licensed pursuant to chapter 20, title 54, Idaho Code, or licensed, exempt or excluded from licensing pursuant to part 2 or 3, chapter 31, title 26, Idaho Code.
History:
[48-603F, added 2011, ch. 323, sec. 3, p. 944.]
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