Division of Banking and Financial Institutions

Businesses engaged in servicing Montana residential mortgage loans are required to obtain mortgage servicer entity and mortgage servicer branch (if applicable) licenses effective October 1, 2011. 

 

Licenses are required for any volume of servicing activity. There are no de minimis exemptions.

 

The Montana mortgage servicer license new application checklist is available on the NMLS resource center at http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/MT-Mortgage-Servicer-License-New-App-Checklist.pdf.

 

Description of who is required to obtain mortgage servicer licenses:  http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/MT-Mortgage-Servicer-License-Description.pdf

 

This new licensing requirement was created by the Montana Mortgage Act, which was signed into law by Governor Brian Schweitzer on May 5, 2011 as part of House Bill 90. 

 

If you have any questions, please contact the licensing staff at the Montana Division of Banking and Financial Institutions at (406) 841-2920.