32-9-112. Application for mortgage broker, mortgage lender, mortgage servicer, and mortgage loan originator license -- renewals. (1) An applicant under this part shall apply for a state license or renewal of a license on the forms prescribed by the NMLS. The department shall use the NMLS forms and policies for all licensing actions.
(2) The department may establish relationships or contracts with the NMLS or other entities designated by the NMLS to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this part.
(3) An applicant for a license or license renewal shall furnish information to the NMLS concerning the applicant's identity, including but not limited to:
(a) fingerprints for submission to the federal bureau of investigation and any governmental agency or entity authorized to receive information for a state, national, and international criminal history background check; and
(b) personal history and experience in a form prescribed by the NMLS, including submission of authorization for the NMLS and the department to obtain:
(i) an independent credit report from a consumer reporting agency described in section 603(p) of the Fair Credit Reporting Act, 15 U.S.C. 1681a(p); and
(ii) information related to administrative, civil, or criminal findings by a governmental jurisdiction.
(4) For the purposes of this section and to reduce the points of contact that the federal bureau of investigation may have to maintain for purposes of subsection (3), the department may use the NMLS as a channeling agent for requesting information from and distributing information to the United States department of justice or other governmental agencies.
(5) For the purposes of this section and to reduce the points of contact that the department may have to maintain for purposes of subsection (3), the department may use the NMLS as a channeling agent for requesting and distributing information to and from any source directed by the department. (See part compiler's comment regarding contingent suspension.)
History: En. Sec. 11, Ch. 321, L. 2009; amd. Sec. 12, Ch. 317, L. 2011; amd. Sec. 9, Ch. 125, L. 2013; amd. Sec. 7, Ch. 24, L. 2015.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators
32-9-101. Short title and purpose
32-9-102. License requirement -- registration
32-9-104. Exemptions -- proof of exemption
32-9-106. Simultaneous licensure
32-9-107. Prelicensing education requirements for mortgage loan originators
32-9-109. Experience requirements
32-9-110. Examination requirements for mortgage loan originators
32-9-113. Control persons -- application for license -- renewal
32-9-116. Employment of mortgage loan originator
32-9-117. Fees -- disposition of fees -- rulemaking
32-9-118. Continuing education requirements for mortgage loan originators
32-9-122. Designated manager and branch office license requirements
32-9-123. Surety bond requirement -- notice of legal action
32-9-124. Prohibitions -- required disclosure
32-9-126. Revocation, suspension, conditioning, and reinstatement of licenses
32-9-128. Registration and registered agent of foreign entities -- service of process -- venue
32-9-129. Loan processors and underwriters
32-9-130. Department authority -- rulemaking
32-9-132. Injunctions -- receivers
32-9-133. Penalties -- restitution
32-9-134. License renewal -- rulemaking
32-9-135. Independent contractor entity -- responsible individual -- loan processor or underwriter
32-9-136. through 32-9-140 reserved
32-9-142. Cease and desist orders
32-9-143. and 32-9-144 reserved
32-9-146. and 32-9-147 reserved
32-9-148. Disclosure of mortgage costs by mortgage lender
32-9-149. Use of name -- advertising
32-9-151. Mortgage call reports
32-9-152. Electronic record as original document
32-9-153. and 32-9-154 reserved
32-9-155. Nationwide mortgage licensing system information challenge process
32-9-156. through 32-9-159 reserved
32-9-161. through 32-9-164 reserved
32-9-168. Mortgage lender prohibitions
32-9-169. Mortgage servicer prohibitions
32-9-170. Mortgage servicer duties