Mortgage Loan Services

Text/HTML

         

Live Accordion

Licensing

Beginning October 1, 2011, all businesses engaging in servicing Montana residential mortgage loans must be licensed. A mortgage loan servicer is defined in an entity that engages, for compensation or gain from another or on its own behalf, in the business of receiving any scheduled periodic payment from a borrower pursuant to the terms of a residential mortgage loan, residential mortgage servicing documents, or a residential mortgage servicing contract; or meets the definition of "servicer" in 12 U.S.C. 2605(i)(2) with respect to residential mortgage loans. Section 32-9-104(25), MCA.
 
The Montana Mortgage Act was revised by House Bill 90 (HB 90) during the 2011 regular legislative session. Governor Brian Schweitzer signed this bill into law on May 5, 2011. HB 90 is effective October 1, 2011.

The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Mortgage Licensing System (NMLS).

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

NMLS Navigation: http://mortgage.nationwidelicensingsystem.org/slr/resources/Pages/NavGuides.aspx

For help with a company account: http://mortgage.nationwidelicensingsystem.org/slr/resources/Pages/CompanyQuickGuides.aspx

For help with an individual account:

http://mortgage.nationwidelicensingsystem.org/slr/resources/Pages/IndividualQuickGuides.aspx   

Montana State Licensing Requirements: http://mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=MT

Authorization Form

New Legislation

Statute

Administrative Rule Notices

MAR Notice Number Topics Addressed In Notice Date
2-59-534 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. 10/16/2015
2-59-521 Notice of Proposed Amendment:  Renewal Fees for Mortgage Licensees 9/19/2014
2-59-462 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  09/07/2012
2-59-462 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   04/27/2012

Text/HTML

_