Section 26-31-302 - PURPOSE OF THIS PART(1) The activities of mortgage loan originators and the origination or offering of financing for residential real property have a direct, valuable and immediate impact upon Idaho consumers, Idaho's economy, the neighborhoods and communities of Idaho, and the housing and real estate industry. The legislature finds that accessibility to mortgage credit is vital to the state's citizens. The legislature also finds that it is essential for the protection of the citizens of Idaho and the stability of Idaho's economy that reasonable standards for licensing and regulation of the business practices of mortgage loan originators be imposed. The legislature further finds that the obligations of mortgage loan originators to consumers in connection with originating or making residential mortgage loans are such as to warrant the regulation of the mortgage loan origination process. The purpose of this part is to protect consumers seeking mortgage loans and to ensure that the mortgage industry is operating without unfair, deceptive, and fraudulent practices on the part of mortgage loan originators. Therefore, the legislature establishes within this part an effective system of supervision of mortgage loan originators and enforcement authority, including:(a) The authority of the director to issue licenses to conduct business under this part, and the authority to promulgate rules and adopt procedures necessary to the licensing of persons covered under this part;(b) The authority of the director to deny, suspend, condition or revoke licenses issued under this part;(c) The authority of the director to examine, investigate and conduct enforcement actions as necessary to carry out the intended purposes of this part, including the authority to subpoena witnesses and documents, enter orders, including cease and desist orders, order restitution and monetary penalties, and order the removal and ban of individuals from office or employment.(2) The director shall have broad administrative authority to administer, interpret and enforce this part, and to promulgate rules and issue orders implementing this part, to carry out the intention of the legislature under this part. [26-31-302, added 2009, ch. 97, sec. 2, p. 296.]