Idaho Servicing Reference Guide

Owned by Kacey Olson
Last updated: Jun 01, 2018
7 min read

CitationTopicRequirement
Trust Deeds / Idaho Code §45-1506C(5)

Affidavit of Compliance

At least 20 days prior to the date of sale, the trustee must file for record in the office of the recorder in each county wherein the trust property, or some part or parcel, is situated, an affidavit from the beneficiary or the beneficiary's agent which states that the beneficiary or the beneficiary's agent has complied with the foreclosure provisions. The filing of the affidavit of compliance is conclusive evidence of compliance with the law as to any party relying on said affidavit of compliance.
Mortgage Company Act / Idaho Code §26-2808(1)

Borrower Account Statement

A mortgage company must deliver to the borrower at least annually during the month of January, a statement of the borrower's account showing the date and amount of all payments made or credited to the account for the immediately preceding 12-month period, and the total unpaid balance.
Idaho Code §6-108

Deficiency Judgment - Judicial

No court in the state of Idaho shall have jurisdiction to enter a deficiency judgment in any case involving a foreclosure of a mortgage on real property in any amount greater than the difference between the mortgage indebtedness, as determined by the decree, plus costs of foreclosure and sale, and the reasonable value of the mortgaged property, to be determined by the court in the decree upon the taking of evidence of such value.
Liens, Mortgages and Pledges / Idaho Code §45-1512

Deficiency Judgment - Non-Judicial

At any time within 3 months after any sale under a deed of trust, a money judgment may be sought for the balance due upon the obligation. The court may not render judgment for more than the amount by which the entire amount of indebtedness due at the time of sale exceeds the fair market value at that time, with interest from date of sale, but in no event may the judgment exceed the difference between the amount for which the property was sold and the entire amount of the indebtedness secured by the deed of trust.
Idaho Code §45-1507

Distribution of Proceeds of Sale - Non-Judicial

The trustee shall apply the proceeds of the trustee’s sale as follows:
(1) To the expenses of the sale, including a reasonable charge by the trustee and a reasonable attorney’s fee.
(2) To the obligation secured by the trust deed.
(3) To any persons having recorded liens subsequent to the interest of the trustee in the trust deed as their interests may appear.
(4) The surplus, if any, to the grantor of the trust deed or to his successor in interest entitled to such surplus.
Residential Mortgage Practices Act / Idaho Admin. Code §12.01.10.050(03)

Loan Modification Confirmation

If a licensee or person required to be licensed under the IRMPA receives a notice from a lender of a loan modification offer, the licensee or person must provide written confirmation of the terms of the loan modification offer to the borrower. The confirmation must be provided no later than 3 business days after receiving notice from the creditor and must be delivered to the borrower or sent to the borrower by first class mail. The confirmation must include information regarding proposed rates, payments and loan balance.
Trust Deeds / Idaho Code §45-1506C(2)

Modification Request Form

The Supplemental Notice of Default must be accompanied by a form to request a loan modification. If a grantor returns the form to the beneficiary by the date specified on the form, the beneficiary or the beneficiary's agent must review the information the grantor provided in the form and must evaluate the grantor's request.
Trust Deeds / Idaho Code §45-1505(3)

Notice of Default

A trustee or beneficiary must file a Notice of Default for record in the office of the recorder in each county where the trust property is situated and mail copies to all entitled parties prior to providing a Notice of Sale. The Notice of Default must: (1) identify the deed of trust by stating the name of the trustor and giving the book and page where the deed of trust is recorded, or a description of the trust property; (2) contain a statement that a breach of the obligation for which the transfer in trust is security has occurred; and (3) set forth the nature of the breach and the trustee's election to sell the property to satisfy the obligation.
Idaho Code §28-22-106(3)

Notice of Dishonor of Check

The notice of dishonor shall be sent either: (1) By certified mail to the drawer at his last known address, or (2) By regular mail, supported by an affidavit of service by mailing, to the address printed or written on the check.
Commencement of Actions / Idaho Code §5-505

Notice of Lis Pendens

In an action affecting the title or the right of possession of real property, the plaintiff at the time of filing the complaint, or at any time afterward, may file for record with the recorder of the county in which the property or some part thereof is situated, a notice of the pendency.
Trust Deeds / Idaho Code §45-1510(2)

Notice of Rescission

Where a trustee's sale is invalid by reason of automatic stay provisions of the U. S. bankruptcy Code, or a stay order issued by any court of competent jurisdiction or otherwise, recordation of a notice of rescission of the trustee's deed must restore the condition of record title to the real property described in the trustee's deed and the existence and priority of all lienholders to the status quo prior to the recordation of the trustee's deed upon sale. Only the trustee or beneficiary who caused the trustee's deed to be recorded, or his/its successor in interest, may record a notice of rescission.
Trust Deeds / Idaho Code §45-1506

Notice of Sale - Non-judicial foreclosure

Subsequent to recording the Notice of Default, and at least 120 days before the day fixed by the trustee for the trustee's sale, notice of the sale must be given by registered or certified mail, return receipt requested. At least 3 good faith attempts must be made to serve a copy of the Notice of Sale upon an adult occupant of the real property in the manner in which a summons is served. A copy of the Notice of Sale must be published in a newspaper of general circulation in each of the counties in which the property is situated once a week for 4 successive weeks, making 4 publishings in all, with the last publication to be at least 30 days prior to the day of sale.
Levy and Sale Under Execution / Idaho Code §11-302

Notice of Sale - Judicial foreclosure

Prior to the sale of the property, a Notice of Sale must be given. The Notice of Sale must be given by posting a notice describing the property, for 20 days, in 3 public places in the precinct or city where the property is situated, and also where the property is to be sold. In addition, a copy of the notice must be published once a week for 20 days before the time set for the sale, in a newspaper published in the county, if there is one. When the judgment under which the property is to be sold is made payable in a specified kind of money or currency, the required notices must state the kind of money or currency in which bids may be made at the sale.
Mortgage Company Act / Idaho Code §26-2809

Notice of Sale or Assignment

The mortgage company must provide notice to the borrower within 15 days after any sale or assignment of the promissory note of the borrower to another person in which the mortgage company does not retain the loan servicing. A mortgage company purchasing or receiving assignment of the promissory note with servicing must provide to the borrower within 30 days a written statement describing policies relating to the reserve account.
Trust Deeds / Idaho Code §45-1505(3)

Notice Required by Idaho Law

The Notice of Default must be accompanied by and affixed to this notice.
Trust Deeds / Idaho Code §45-1506C(3)

Notification to Grantor

The beneficiary or the beneficiary's agent, as soon as reasonably practicable but not later than 45 days after receiving the modification request form, must notify the grantor in writing whether the beneficiary approves or denies the request or requires additional information. A trustee's sale for the property subject to the loan may not occur until after the beneficiary or the beneficiary's agent timely responds to the grantor. During the 45-day period, the beneficiary or the beneficiary's agent may request the grantor to provide additional information required to determine whether the loan can be modified.
Mortgage Company Act / Idaho Code §26-2807(1)

Reserve Account Disclosure

A mortgage company must, conspicuously and specifically, disclose to each borrower all contractual provisions relating to reserve accounts, impound accounts, escrow accounts, or any other account maintained for the borrower in order to pay for property taxes, property insurance or private mortgage insurance.
Trust Deeds / Idaho Code §45-1506C(1)

Supplemental Notice of Default

In the case of a loan made by a state or federally regulated beneficiary, which loan is secured by a deed of trust encumbering a borrower's primary residential property for any noncommercial loan, the notice provided below must accompany the notice of default provided to the grantor.
Idaho Code §45-1510(1)

Trustee’s Deed After Foreclosure Sale - Non-Judicial

(1) When the trustee’s deed is recorded in the deed records of the county where the property described in the deed is located, the recitals contained in the deed and in the affidavits required under section 45-1506(7), Idaho Code, shall be prima facie evidence in any court of the truth of the recitals and the affidavits. However, the recitals and affidavits are conclusive in favor of a purchaser in good faith for value or any successor in interest thereof. For purposes of this section, the trustee’s deed shall be deemed effective as of the date and time on which the sale was held if such deed is recorded within fifteen (15) days after the date of sale or the first business day following the fifteenth day if the county recorder of the county in which the property is located is closed on the fifteenth day.