Authors Posts by Idaho Department of Finance

Idaho Department of Finance

The Department of Finance was originally created by the State Legislature in 1905. Its statutory authority derives from the Idaho Code, Title 67, Section 67-2701 and the various laws under which it operates. The Director is appointed by the Governor with the advice and consent of the Idaho Senate.

Contact:

Michael Larsen
Consumer Finance Bureau Chief
Phone: (208) 332-8000

Idaho Department of Finance
800 Park Blvd., Suite 200
Boise, ID 83712
P.O. Box 83720
Boise, ID 83720-0031
Phone: (208)332-8000
Toll-Free (Within Idaho Only): 1-888-346-3378

Northwood Place now open

KETCHUM, ID - January 6, 2011 - (RealEstateRama) -- Vitus Development, together with the Ketchum Community Development Corporation (KCDC), announces the completion of Northwood Place, a 32-unit development providing affordable housing in Ketchum. All units at Northwood Place -12 one-bedroom, 14 two-bedroom, and six three-bedroom units - are rent and income restricted for households with incomes equal to or less than 60% of area median income. Additional sustainable features incorporated into the five separate garden style, wood-frame buildings will help ensure resident’s energy costs remain manageable.

2010 Fair Housing Conference to be held in Boise

BOISE, ID - March 22, 2010 - (RealEstateRama) -- Fair housing can be complex for housing professionals, service providers, and local communities. The Idaho Fair Housing Forum, in partnership with the Idaho Affordable Housing Management Association, will host a conference focusing on rights and responsibilities under the Fair Housing Act. “Fair Housing 2010 – More than a Black and White Issue,” will be held from 8:30 a.m. to 5 p.m. April 19 at the Doubletree Hotel Boise Riverside. Registration is required and begins at 8 a.m. A $10 registration fee includes lunch and conference materials.

$6,000 contributed to Finally Home! Homebuyer Education

BOISE, ID - December 21, 2009 - (RealEstateRama) -- Wells Fargo Foundation recently contributed $6,000 to the Finally Home!® Homebuyer Education Program administered by the Idaho Partners for Home Buyer Education, Inc. (IPHBE, Inc.). In total, Wells Fargo has contributed $100,000 to the program, $5,000 of which was dedicated to translation of the course textbook into Spanish.

Minnick supports two credit measures for consumers

Washington, D.C. - December 2, 2009 - (RealEstateRama) -- In these tough times, Idahoans deserve the chance to buy a home or attend college without having to worry about unfair marks from credit agencies.

Idaho Joins Other States in Efforts to Enhance Supervision of Multi-State Mortgage Companies

December 2, 2009 - (RealEstateRama) -- Gavin Gee, director of the Idaho Department of Finance, today announced the signing of an updated agreement to cooperatively work with other state mortgage regulators in overseeing the activities of state-licensed mortgage companies operating across state lines

Simpson Supports Extension of Homebuyer Tax Credit

Washington, DC - November 6, 2009 - (RealEstateRama) -- The U.S. House of Representatives today overwhelmingly passed legislation extending the First-Time Homebuyer Tax Credit Provision through April 30, 2010. The bill also creates a new tax credit for move-up buyers who have lived in their current residence for at least five years. The expanded tax credit was included as part of H.R. 3548, legislation that provides an extension of federal unemployment insurance benefits.

Meridian Real Estate Fund Manager is Charged With Defrauding Idaho Investors

Boise, ID - October 27, 2009 - (RealEstateRama) -- The Idaho Department of Finance has filed a complaint in Ada County District Court against Sheila Lea Jones. Jones, owner of Vitruvian Investment Group, solicited investors to pool their money for investment into a real estate fund managed by Jones. The fund purportedly invested in short-term construction and development loans, as well as conventional real estate transactions including both commercial and residential loans. The defendant allegedly raised over $3.7 million from at least 40 investors and offered annual returns of 8 percent to 10.5 percent. The State’s complaint alleges violations of the anti-fraud provisions of the Idaho Securities Act and violations of the Idaho Financial Fraud Prevention Act. Vitruvian Investment Group filed for Chapter 7 bankruptcy protection in November 2008

Department of Finance Orders Meridian Mortgage Loan Modification Company to Cease Further Business Activities

Boise, ID - October 14, 2009 - (RealEstateRama) -- The Idaho Department of Finance announced today the issuance of a Cease and Desist Order against Meridian-based International Co-op LLC for engaging in unlicensed mortgage loan modification activities and for illegally charging distressed Idaho homeowners exorbitant upfront fees.

Department of Finance Announces Multi-State Settlement Agreement with Taylor Bean & Whitaker Mortgage Corporation

Model Agreement Will Bring Relief to Homeowners. Boise, ID - June 24, 2009 - (RealEstateRama) — Gavin Gee, director of the Idaho Department of Finance, announced today a formal settlement agreement with Florida-based Taylor, Bean & Whitaker Mortgage Corporation (TBW) regarding “nontraditional” mortgage loans it made in 2006

Permanent Injunction Entered Against Boise Man For Originating Mortgage Loans Without A License

Boise, ID - May 27, 2009 - (RealEstateRama) — An Ada County District Court Judge has entered a permanent injunction against a Boise man for accepting and negotiating residential mortgage loan applications without a license on behalf of Idaho borrowers.

UNLICENSED MORTGAGE LOAN MODIFICATION COMPANY’S FALSE GUARANTEE TO AVOID FORECLOSURE LEAVES DISTRESSED HOMEOWNERS WITHOUT...

Boise, ID - April 27, 2009 - (RealEstateRama) — The Idaho Department of Finance has ordered National Foreclosure Relief, Inc. (National Foreclosure), a Nevada corporation, to cease and desist from offering and selling mortgage loan modification services to Idaho residents. The company apparently targets distressed homeowners seeking to avoid foreclosure on their homes.

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Risch, King Bill to Protect Energy Infrastructure Secures Western Governors’ Association...

U.S. Senators Angus King (I-Maine) and Jim Risch (R-Idaho) today announced that the Western Governors’ Association, a bipartisan group of 19 governors from Western states and 3 governors from Western U.S. territories, has endorsed the Securing Energy Infrastructure Act. The bipartisan legislation, introduced by the Senators earlier this year, seeks to protect America’s electric grid from cyber-attacks. The WGA expressed their support in a letter earlier this month to the Chairs and Ranking Members of the Senate Committee on Energy and Natural Resources and the Subcommittee on Energy.