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Montana Mortgage Broker and Loan Originator Licensing

A mortgage broker and loan originator license is needed to engage in business as defined in the Montana Mortgage Broker and Loan Originator Licensing Act (Section 32-9-101, MCA). The Montana Mortgage Broker and Loan Originator Licensing Act was passed by the Montana State Legislature through Senate Bill 402 during the 2003 Regular Session. The Montana Mortgage Broker and Loan Originator Licensing Act provides for the licensure and regulation of mortgage brokers and loan originators that originate Montana residential mortgage loans.

Fee Reduced for Background Check (Fingerprint Based)

Please be advised that effective October 1, 2007 the fee for the fingerprint-based background check will be $29.25 for each mortgage broker sole proprietor, mortgage broker individual or loan originator that applies for licensure. This represents a decrease from the current fee of $34.00. This fee must be included with the initial application for licensure and is payable to the State of Montana. For your information, this fee is set by the FBI, which has indicated that this decrease is attributed to an analysis of the cost for conducting the fingerprint-based search.

Education & Examination Providers

All individuals seeking a mortgage broker or loan originator license must successfully pass an examination designed to demonstrate that the applicant possesses competency to originate loans. Additionally, all loan originators and all individual mortgage brokers must complete at least 12 hours of continuing education each year. Examinations and continuing education must be provided by an approved education provider.

Mortgage Broker and Loan Originators FAQ's

Recent Legislation (2007 Regular Session)

Administrative Rules

Printable Version of Complete Administrative Rules (Effective 9/26/08)

Mortgage Broker Administrative Rules Letter to Licensees (10/15/08)

Administrative Rule Notices

Forms & Instructions

Statute/Rules/Guidance

Pipeline Report

  • This sample report should be used to track any residential mortgage loan files that are in a pending, closed, withdrawn, denied or cancelled status. Sample Pipeline Report

Montana Loan Origination Disclosure

  • Section 32-9-124(2), MCA states, "Prior to providing mortgage broker services to a borrower, the licensee, in addition to other disclosures required by this part and other state and federal laws, shall provide to the borrower at the time of application a written disclosure containing substantially the following language, which must be signed by the borrower:" Please see the required Montana Specific "Mortgage Loan Origination Disclosure". (Last updated 10/11/07)

Initial Application

License Renewal

Other Licensing Forms

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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