Regulating Financial Services, Protecting Montanans



Updated March 1, 2021

Branch closure requirements due to COVID-19 are allowed by the Commissioner's Proclamation and do not need to follow the standard processes for emergency and temporary branch closures. 

  • Due to the health risk associated with COVID-19, the Division is temporarily allowing licensed mortgage loan originators (MLO), loan processors, and underwriters to work from home, whether located in Montana or another state, even if the home is not a licensed branch. All other provisions of the Montana Mortgage Act remain in place. While it is up to the company and the MLO to decide whether consumers go to MLO licensed branch homes, if MLOs work from an unlicensed branch home, they must not have consumers come to the home. Additionally, these following data security measures must be followed:
    • The licensed MLO must be able to access the licensed mortgage company's secure origination system (including a cloud-based system) directly from any out-of-office device that mortgage loan officer uses, using a virtual private network (VPN) or other similar system that requires passwords or other forms of authentication to access.
    • All security updates, patches, or other alterations to the device's security must be maintained.
    • Physical business records are maintained at the books and records location that is on file with the Division.

This guidance also applies to other non-depository licensees and their employees. Questions about this may be sent to

ARM 2-59-597 - Notice of Adoption of Temporary Emergency Rule - Effective March 24, 2020 - Related to escrow businesses, mortgage services, and mortgage license applicants

ARM 2-59-598 -Notice of Adoption of Temporary Emergency Rule - Effective April 2, 2020 - Related to Virtual Annual Meetings for State Chartered Banks and Credit Unions

ARM 2-59-599 - Notice of Adoption of Temporary Emergency Rule - Effective April 24, 2020 - Related to Waiver of First Semiannual Assessment for Banks and Supervisory Fee for Credit Unions

The U.S. Small Business Administration re-opened the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021. The portal is fully open to all participating PPP lenders to submit First and Second Draw loan applications to SBA. The SBA is currently only accepting loan applications from participating community financial institutions (CFIs). Businesses can find a participating CFI at Lender Match.

Hi, I can help answer your questions!