The Idaho Residential Mortgage Practices Act (IRMPA) charges the Idaho Department of Finance with the responsibility for licensing and regulating the mortgage related activities of mortgage lenders and mortgage brokers, mortgage loan modification companies, independent contractor mortgage loan processors and mortgage underwriters and mortgage loan originators.

The following provides basic licensing information as detailed in the IRMPA:

    • Licensees are not required to maintain a physical location in Idaho.
    • There is no “one time” exemption for individuals regularly engaged in mortgage brokering/lending activities.
    • Exempt entities include, but may not be limited to, certain financial institutions, governmental agencies, wholesale lenders, as well as licensed attorneys and accountants under specific conditions.

    A brief summary of licensee qualifications include:

    1. $350 application fee,
    2. $250 recovery fund payment for the “main” office; $150 recovery fund payment for each additional Idaho-licensed branch office,
    3. Completed application,
    4. Registration with the Idaho Secretary of State’s Office.

    All mortgage licensing is handled through the Nationwide Multistate Licensing System and Registry (NMLS). Information pertaining to testing, education and background checks may be found on the NMLS website at: in the Professional Standards section.

    To get started, please go to the NMLS website for complete information and filing requirements.

    Questions pertaining to Idaho licensing requirements may be directed to 208-332-8002. Questions pertaining to the use and navigation of the NMLS may be directed to the NMLS Call Center at (855) 665-7123