MONTANA MORTGAGE BROKER, LENDER, AND SERVICER

The Montana mortgage lender, broker, and servicer licenses are for any companies who regularly engage in the business of residential mortgage lenders, brokers, or servicers with Montana consumers, unless exempt under 32-9-104. These licenses are separate - each license is needed to engage in each activity, e.g. a lender license does not cover brokering.

The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS). A licensing decision is usually made on a company application within 20 days, and within 10 days for a branch.

For instructions on how to use NMLS please go to the following links on the NMLS website:

For help with an individual account:

The Montana Division does not issue paper licenses.

To verify licensure of a financial services provider, visit the NMLS Consumer Access website.

Forms can be found on the NMLS website and on the Division website.

Pipeline Report

This sample report should be used to track any residential mortgage loan files that are in a pending, closed, withdrawn, denied or canceled status.

• Sample Origination Pipeline Report
• Sample Servicing Pipeline Report

Montana Loan Origination Disclosure

• Section 32-9-124(2), MCA states, "Prior to providing mortgage broker services to a borrower, the licensee, in addition to other disclosures required by this part and other state and federal laws, shall provide to the borrower at the time of application a written disclosure containing substantially the following language, which must be signed by the borrower:" Below is the required Montana specific form in two formats for your convenience.
  • Mortgage Loan Origination Disclosure(PDF Document - last updated 09/23/11)
  • Mortgage Loan Origination Disclosure (Word Document - last updated 09/23/11)

  Broker Application Spreadsheet

  • Administrative Rule of Montana 2.59.1710(2) states, "A mortgage broker shall maintain a spreadsheet of all residential mortgage applications taken, including all applications that are pending, closed, withdrawn, denied, or cancelled." Below is a template of the spreadsheet with the required headings.
    • Broker Loan Application Spreadsheet
    • Montana Mortgage Act Part 1,Part 2
    • Mortgage Administrative Rules
    • Guidance on Non-Traditional Mortgage Products (11/13/06)
    • CSBS/AARMR Non-Traditional Mortgage Product Guidance
    • CFPB ERegulations

    MAR Notice Number

    Topics Addressed in Notice

    Publication Date

    Notice of Amendment – Renewal Fees of Mortgage Brokers, Mortgage Lenders, Mortgage Servicers, and Mortgage Loan Originators

    Notice of Proposed Amendment – Renewal Fees of Mortgage Brokers, Mortgage Lenders, Mortgage Servicers, and Mortgage Loan Originators

    Notice of Amendment pertaining to renewal fees of mortgage brokers, lenders, servicers, and mortgage loan originators

    Notice of Proposed Adoption pertaining to activities requiring a license.

    12 CFR 1008 appendices

    • Appendix A - Examples of Mortgage Loan Originator Activities
    • Appendix B - Engaging in the Business of a Loan Originator: Commercial Context and Habitualness
    • Appendix C - Independent Contractors and Loan Processor and Underwriter Activities That Require a State Mortgage Loan Originator License
    • Appendix D - Attorneys: Circumstances That Require a State Mortgage Loan Originator License

    Notice of Proposed Amendment pertaining to renewal fees of mortgage brokers, lenders, servicers, and mortgage loan originators

    Notice of Amendment and Repeal pertaining to:

    • standardized forms and procedures of the NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
    • consumer loan license surrender;
    • definitions for mortgage licensees;
    • revocation, suspension, or surrender of mortgage licenses;
    • initial applications through NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
    • consumer loan license amendments and fees;
    • escrow business license amendments, surrender, and fees
    • sales finance company license amendments, surrender, and fees
    • deferred deposit lender license amendments, surrender, and fees; and
    • table funding requiring licensure for mortgage licensees.

    Notice of Proposed Amendment and Repeal pertaining to:

    • standardized forms and procedures of the NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
    • consumer loan license surrender;
    • definitions for mortgage licensees;
    • revocation, suspension, or surrender of mortgage licenses;
    • initial applications through NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
    • consumer loan license amendments and fees;
    • escrow business license amendments, surrender, and fees
    • sales finance company license amendments, surrender, and fees
    • deferred deposit lender license amendments, surrender, and fees; and
    • table funding requiring licensure for mortgage licensees.

    Notice of Amendment pertaining to renewal fees of mortgage brokers, lenders, servicers, and loan originators

    Notice of Proposed Amendment pertaining to renewal fees of mortgage brokers, lenders, servicers, and loan originators

    Notice of Adoption and Amendment pertaining to examination fees, revocation and suspension of mortgage licenses, consumer complaints, confidentiality agreements and sharing arrangements, reinstatement of expired or suspended licenses, mortgage loan origination disclosure form, bona fide not-for-profit certification, and applications for initial licenses near year end

    Notice of Proposed Adoption and Amendment pertaining to examination fees, revocation and suspension of mortgage licenses, consumer complaints, confidentiality agreements and sharing arrangements, reinstatement of expired or suspended licenses, mortgage loan origination disclosure form, bona fide not-for-profit certification, and applications for initial license s near year end

    • Bona Fide Not-For-Profit "BNFP" Certification
    • Mortgage Loan Originator Renewal or Reinstatement Form
    • Mortgage Company/Branch Renewal Form

    Notice of Amendment pertaining to renewal fees of mortgage brokers, mortgage lenders, mortgage servicers, and mortgage loan originators

    Notice of Amendment pertaining to designated manager supervisory requirements

    Notice of Proposed Amendment pertaining to designated manager supervisory requirements

    Notice of Proposed Amendment pertaining to renewal fees of mortgage brokers, mortgage lenders, mortgage servicers, and mortgage loan originators

    Notice of Amendment pertaining to report due dates for mortgage servicers and when initial mortgage license applications are deemed abandoned

    Notice of Proposed Amendment pertaining to report due dates for mortgage servicers and when initial mortgage license applications are deemed abandoned

    Notice of Adoption of Temporary Emergency Rule - Effective March 24, 2020

    Notice of Adoption - Government Sponsored Enterprises - Designated Manager Supervisory Requirements - False, Deceptive, or Misleading Advertising - Internet or Electronic Advertising.

    Notice of Amendment - Renewal fees for mortgage brokers, lenders, servicers, and originators

    Notice of Proposed Adoption - Government sponsored enterprises, designated manager supervisory requirements, false, deceptive, or misleading advertising, and internet or electronic advertising

    Notice of Proposed Amendment - Renewal fees for mortgage brokers, lenders, servicers, and originators

    Notice of Amendment: Annual Reporting for Consumer Loan Licensees, Escrow Business Reference Updates, Mortgage Definitions, Mortgage Renewal Fees, and Escrow Funds Held by Mortgage Companies

    Notice of Proposed Amendment - Annual Reporting for Consumer Loan Licensees - Escrow Business Reference Updates - Mortgage Definitions - Mortgage Renewal Fees - Escrow Funds Held by Mortgage Companies.

    Notice of Proposed Amendment - Renewal Fees for Mortgage Brokers, Lenders, Servicers, and Originators

    Notice of Adoption - Definition of "Alter" for Mortgage Licensees

    Notice of Proposed Adoption - Definition of "Alter" for Mortgage Licensees. No Public Hearing Contemplated

    Notice of Amendment and Repeal – Surety Bond – Table Funding – Application of Financial Standards – Reporting Forms for Mortgage Servicers – Standardized Forms and Procedures of the Nationwide Mortgage Licensing System – Clarification of Definition

    Notice of Proposed Amendment and Repeal – Surety Bond – Table Funding – Application of Financial Standards – Reporting Forms for Mortgage Servicers – Standardized Forms and Procedures of the Nationwide Mortgage Licensing System – Clarification of Definition. No Public Hearing Contemplated

    Notice of Adoption and Amendment - Definition of "Regularly Engage" - Renewal Fees for Mortgage Brokers, Lenders, Servicers, and Originators

    Notice of Proposed Adoption and Amendment: Definition of "Regularly Engage" and Renewal Fees for Mortgage Brokers, Lenders, Servicers, and Originators

    Notice of Amendment - Determining the Amount of Surety Bond for a New Mortgage Broker or Mortgage Lender

    Notice of Proposed Amendment - Determining the Amount of Surety Bond for a New Mortgage Broker or Mortgage Lender

    Notice of Amendment - Records to Be Maintained by Mortgage Brokers - Records to Be Maintained by Mortgage Lenders - Reporting Forms for Mortgage Servicers

    Notice of Proposed Amendment - Records to Be Maintained by Mortgage Brokers - Records to Be Maintained by Mortgage Lenders - Reporting Forms for Mortgage Servicers. No Public Hearing Contemplated.

    Notice of Proposed Amendment - Renewal Fees for Mortgage Brokers, Lenders, Servicers, and Originators. No Public Hearing Contemplated.

    Notice of Amendment - Recovery of the Costs in Bringing an Administrative Action - Treatment of Initial License Applications Submitted Near Year-End - Abandonment of Initial License Applications - Mortgage Licensees.

    Notice of Proposed Amendment: Recovery of the Costs in Bringing an Administrative Action; Treatment of Initial License Applications Submitted Near Year-end; and Abandonment of Initial License Applications, All Related to Mortgage Licensees

    Notice of Amendment: Renewal Fees for Mortgage Licensees

    Notice of Proposed Amendment: Renewal Fees for Mortgage Licensees

    Notice of Adoption, Amendment, and Repeal: Definition of origination of a mortgage loan, certificate of bona fide not-for-profit entity, state-specific prelicensing education, and when an application is deemed abandoned, the amendment of ARM 2.59.1701, 2.59.1702, 2.59.1728, 2.59.1731, and 2.59.1743 pertaining to definitions, proof of experience, standardized forms, reinstatement of licenses, and reporting forms for mortgage servicers, and the repeal of ARM 2.59.1725, 2.59.1727, and 2.59.1749 pertaining to licensing exemptions, mortgage loan originator testing, and written exemption form

    Notice of Public Hearing on Proposed Adoption, Amendment, and Repeal: Definition of origination of a mortgage loan, certificate of bona fide not-for-profit entity, state-specific prelicensing education, and when an application is deemed abandoned, the amendment of ARM 2.59.1701, 2.59.1702, 2.59.1728, 2.59.1731, and 2.59.1743 pertaining to definitions, proof of experience, standardized forms, reinstatement of licenses, and reporting forms for mortgage servicers, and the repeal of ARM 2.59.1725, 2.59.1727, and 2.59.1749 pertaining to licensing exemptions, mortgage loan originator testing, and written exemption form

    Notice of Amendment and Adoption: Written Exemption Form for Requesting a Mortgage Licensing Exemption

    Notice of Proposed Amendment and Adoption: Written Exemption Form for Requesting a Mortgage Licensing Exemption

    Notice of Adoption, Amendment, and Repeal: Mortgage Servicers, the amendment of ARM 2.59.1701, 2.59.1703, 2.59.1706, 2.59.1707, 2.59.1709, 2.59.1725, 2.59.1727, 2.59.1728, 2.59.1730, 2.59.1731, and the repeal of ARM 2.59.1721, 2.59.1722, 2.59.1723, 2.59.1732, and 2.59.1736

    Corrected Notice of Adoption: Financial Responsibility of Mortgage Loan Originators and Control Persons and Ultimate Equity Owners of Mortgage Entities

    Notice of Public Hearing on Proposed Adoption, Amendment and Repeal: Mortgage Servicers, the amendment of ARM 2.59.1701, 2.59.1703, 2.59.1706, 2.59.1707, 2.59.1709, 2.59.1725, 2.59.1727, 2.59.1728, 2.59.1730, 2.59.1731, and the repeal of ARM 2.59.1721, 2.59.1722, 2.59.1723, 2.59.1732, and 2.59.1736

    Notice of Adoption: Financial Responsibility of Mortgage Loan Originators and Control Persons and Ultimate Equity Owners of Mortgage Entities

    To protect the privacy of those who deal with state and local government, the Division may not provide distribution lists, as stated in 2-6-1017, MCA. If you feel you have a request that meets the exemptions in the statute, please send an email to banking@mt.gov containing the information requested along with details on how the information will be used.

    The Montana Division of Banking and Financial Institutions does not provide no-action or opinion letters regarding licensing. We ask individuals to consult with their own legal counsel to determine if a license or charter is needed.

    CONTACT US

    Division of Banking & Financial Institutions

    Mailing Address:
    PO Box 200546
    Helena MT 59620

    Physical Address:
    1227 11th Ave, Suite 100
    Helena, MT 59601

    RESOURCES & PARTNERS

    • Nationwide Mortgage Licensing System (NMLS)
    • Federal Deposit Insurance Corporation (FDIC)
    • Federal Reserve Bank (FRB)
    • Conference of State Bank Supervisors (CSBS)
    • National Credit Union Administration (NCUA)
    • National Association of State Credit Union Supervisors (NASCUS)
    • Consumer Financial Protection Bureau (CFPB)
    • Montana Financial Education Coalition (MFEC)

    STATE LINKS

    • Governor's Office
    • Department of Administration
      • Divisions
      • Services