Section 12.01.10.006 - DEFINITIONSIn addition to the terms defined in the Idaho Residential Mortgage Practices Act, the following definitions apply:
01.Advertising. Advertising means making or permitting to be made any oral, written, graphic or pictorial statements, in any manner, in the course of the solicitation of business authorized under the Act.02.Application. In relation to a "residential mortgage loan" or "loan modification" as defined in the Act, an "application" means a request for a residential mortgage loan or loan modification and any form or document representing such request. The term "application" does not include the processing of such request.03.Closing. The process of executing legally binding documents regarding a lien on property that is subject to a residential mortgage loan and includes the day agreed upon by a borrower and a covered person to complete such process.04.Covered Person. A person who has been issued a license, pursuant to the Act, or a person required to be licensed under the Act.Idaho Admin. Code r. 12.01.10.006