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MT Division of Banking Finalizes Investigation of Mr. Cooper’s Misconduct and Operational Weaknesses

Division Releases 2018 Mortgage Examination Supervisory Overview

Statutory Changes to the Montana Mortgage Act Effective 10/1/19

Mortgage FAQs Added to Division Website

DIVISION RELEASES RESULTS OF 2018 NMLS LICENSE RENEWALS

The Montana Division of Banking and Financial Institutions (Banking Division) recently finished processing annual renewals for all non-depository licensees. These renewals were all submitted online via the Nationwide Mortgage Licensing System (NMLS). Licensees had until 12/31/18 to request renewal. Licensees that did not request in that time frame were given until 2/28/19 to submit a late renewal request and pay an additional fee. According to the NMLS renewal dashboard available on March 1, 2019, 79.3% of licensees requested renewal during the 2018 renewal period. This percentage is 3.3% lower than what was submitted by this timeframe in 2017. The Division also had an increase of 272 renewable licenses compared to last year. The Banking Division attributes its efficiency to its licensing staff’s commitment to training and their utilization of enhanced functionality of the NMLS.

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