Division of Banking & Financial Institutions

Please be advised that incomplete renewal applications will not be accepted.

Mortgage Broker Entity Renewal

• Completion of online renewal application via http://BFILicensing.mt.gov
• Renewal Fee of $50.00 (can pay online by echeck or credit card or via mail by check or money order)

Mortgage Broker Sole Proprietor Renewal

• Completion of online renewal application via http://BFILicensing.mt.gov
• Recent credit report from one of the following recognized credit reporting bureaus: Trans Union, Experian or Equifax
• Proof of continuing education courses taken (12 credit hours required from an approved education provider)
• If requesting a carryover of up to 6 credit hours, then a letter so stating
• Renewal Fee of $300.00 (can pay online by echeck or credit card or via mail by check or money order)

Mortgage Broker Individual Renewal

• Completion of online renewal application via http://BFILicensing.mt.gov
• Recent credit report from one of the following recognized bureaus: Trans Union, Experian or Equifax
• Proof of continuing education courses taken (12 credit hours required from an approved education provider)
• If requesting a carryover of up to 6 credit hours, then a letter so stating
• Renewal Fee of $300.00 (can pay online by echeck or credit card or via mail by check or money order)

Loan Originator Renewal

• Completion of online renewal application via http://BFILicensing.mt.gov
• Credit report from one of the following recognized credit reporting bureaus: Trans Union, Experian or Equifax
• Proof of continuing education courses taken (12 credit hours required from an approved education provider)
• If requesting a carryover of up to 6 credit hours, then a letter so stating
• Renewal Fee of $250.00 (can pay online by echeck or credit card or via mail by check or money order)

Deadline: The completion of the license renewal is due by May 31, 2008. Late Fee: Failure to submit all required renewal documents by May 31, 2008 will result in a $250 late fee per license in addition to regular renewal fees. License Revocation: All licenses expire on June 30, 2008. If an attempt to renew is after June 30, 2008, the license is considered revoked and licensee must re-apply as a new licensee.

Incomplete Applications: Incomplete renewal applications will not be accepted by the Division of Banking and Financial Institutions. Incomplete applications will be mailed back to the applicants. An application will be determined to be incomplete if any of the following documents are not submitted: proof of completed 12 hours of continuing education which should be copies of the certificates from the approved education providers, a copy of a recent credit report from one of the three recognized credit reporting bureaus (Trans Union, Experian or Equifax), the submission of the online renewal application at http://BFILicensing.mt.gov and the license renewal fee.

Instructions for Online Renewal:

1. To renew your license, visit http://BFILicensing.mt.gov
2. You must "Create an ePass account" to use this online license renewal service. Remember to save your ePass username and password.
3. Click "Add Banking and Financial Institutions to ePass account"
4. Enter your tracking number and license number.
5. Complete online license renewal, print and save confirmation and mail in supplemental information to the Banking Division. If you have not paid for your renewal online you will need to remit the applicable licensing renewal fee payable to the State of Montana.

In the interests of preserving personal information contained within the online licensing, tracking numbers will not be given out over the phone. A licensee may request their tracking number by submitting a written request that may be mailed or faxed (406-841-2930) to the Division. Once that request has been received, the Division will mail the licensee their tracking number. The Division can not provide a mortgage entity with a list of tracking numbers for their individual licensees. It is the responsibility of each licensee to renew their own license.

Renewal Fees:
Mortgage Broker Business Entity: $50
Mortgage Broker Sole Proprietor: $300
Mortgage Broker Individual: $300
Loan Originator: $250
The online renewal process provides a payment portal through which a licensee can pay their renewal fee online with either a credit card or echeck. This is not required to renew online. Licensees can still mail checks to the Division for payment with the submission of required renewal documents.

Continuing Education: Twelve hours of continuing education must be taken by May 31, 2008 from an approved education provider. The list approved education providers can be found on the Division's mortgage broker website, http://banking.mt.gov/mortgage.asp under "Education and Examination Providers."

Credit Report: All individual licensees must submit a recent credit report (within 60 days) from one of three recognized credit reporting agencies: Trans Union, Experian or Equifax.

Regular Mailing Address: Division of Banking and Financial Institutions, P.O. Box 200546, Helena, MT 59620
Overnight Mailing Address: Division of Banking and Financial Institutions, 301 South Park, Suite 316, Helena, MT 59601

Questions?

Division of Banking and Financial Institutions
301 South Park, Suite 316, PO Box 200546, Helena, MT 59620
Phone: (406) 841-2920 Fax: (406) 841-2930

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