Adds to existing law to provide for consumer privacy in mortgage applications.
RESIDENTIAL MORTGAGE PRACTICES -- Adds to existing law to provide for consumer privacy in mortgage applications.
STATEMENT OF PURPOSE
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This bill seeks to amend Chapter 31, Title 26 of the Idaho Code by adding a new section, 26-31-211A, aimed at enhancing consumer privacy in mortgage applications. It defines the term "mortgage trigger lead" and outlines prohibited practices regarding the solicitation of consumers based on these leads. Currently, such leads result in consumers being contacted by mortgage creditors, often causing confusion as they are unable to distinguish whether the call is from their actual mortgage lender or another company attempting to solicit their business.
FISCAL NOTE
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This legislation causes no additional expenditure of funds at the state or local level of government, nor does it cause an increase or decrease in revenue for state or local government. Therefore, the legislation has no fiscal impact.
HOW THEY VOTED
House Third Reading
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YEA (55)
ABSENT / NOT VOTING (3)
Senate Third Reading
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YEA (26)
LATEST ACTION
Reported Signed by Governor on March 17, 2025 Session Law Chapter 87 Effective: 07/01/2025
BILL INFO
- Session
- 2025
- Chamber
- house
- Status date
- Mar 17, 2025
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