DBFI RESOURCES AND RESPONSE TO COVID-19
MONTANA COVID-19 UPDATES
Updated June 30, 2021
- March 16, 2020 - Memo on Working with Customers Affected by COVID-19
- CSBS Information on COVID-19 Coronavirus
- June 16, 2020 - Warning from DLI and DBFI Regarding Unemployment Benefit Scams
- January 15, 2021 - Supervisory Memorandum and Proclamation related to COVID-19 for Montana banks
- February 12, 2021 - Executive Order 2-12-2021
- March 30, 2021 - Directive Implementing Executive Order 2-2021
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.
- CSBS Information on COVID-19 Coronavirus
- June 16, 2020 - Warning from DLI and DBFI Regarding Unemployment Benefit Scams
- January 15, 2021 - Supervisory Memorandum and Notification related to COVID-19 for Montana credit unions
- February 12, 2021 - Executive Order 2-12-2021
- March 30, 2021 - Directive Implementing Executive Order 2-2021
- 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 mortgagelicensing@mt.gov.
- The Division is sensitive to the challenges that COVID-19 has created for our licensees. Please know that staff will be responsive to reviewing extension requests and other appropriate forms of regulatory relief arising from service and staff disruptions related to COVID-19. The Division is adhering to the NMLS COVID-19 related policy changes for certain report filings. The Division encourages its licensees to file the applicable reports as soon as possible.
- NMLS Coronavirus/COVID-19 Updates
- CSBS Information on COVID-19 Coronavirus
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
FFIEC
Joint Statement on Additional Loan Accommodations Related to COVID-19
CFPB
FDIC
Coronavirus (COVID-19) Information for Bankers and Consumers
Federal Reserve
COVID-19 Supervisory and Regulatory FAQs
FinCEN
Payment Protection Program FAQs
NCUA
Covid-19 Information for Federally Insured Credit Unions and Members
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.
- Payment Protection Program (PPP Loans)
- SBA Small Business Guidance & Loan Resources
- SBA E-Bulletin
- Paycheck Protection Program First Draw Loans: Overview (sba.gov) and Paycheck Protection Program Second Draw Loans: Overview (sba.gov)
- US Chamber of Commerce Guide to Small Business COVID-19 Emergency Loans
- US Chamber of Commerce Small Business Resource Guide
- OSHA Guidance for Preparing Workplaces for COVID-19
- CDC Guidance for Businesses and Employers Responding to COVID-19
- The latest travel notices and advisories from the CDC and State Department.