Current Company Licensees:
Mortgage Lender License:
Companies holding a Mortgage Lender License in Montana have until March 1, 2010 to complete and submit through NMLS a Form MU1 for their company and a Form MU2 for each of their control persons. Additionally, for each branch holding a mortgage lender branch license, a company must complete and submit through NMLS a Form MU3 by March 1, 2010.
Mortgage Broker License:
Companies holding a Mortgage Broker License in Montana have until May 31, 2010 to complete and submit through NMLS a Form MU1 for their company and a Form MU2 for each of their control persons. Additionally, for each branch holding a mortgage broker branch license, a company must complete and submit through NMLS a Form MU3 by May 31, 2010.
It is important that current licensees have all of their Montana license numbers available when completing and submitting their Form MU1 and Form MU3(s).
Any licensee that needs to amend or surrender a license, establish or terminate a sponsorship of a mortgage loan officer license, or other action previously completed in on-line through the Division website, from January 4, 2010 onward must complete these actions through the NMLS.
We encourage you to update your information with our office by December 1, 2009, so at the time of transition there will be no pending changes to submit.
Note: If you have submitted these forms in another state, then you will not need to re-enter your company record into NMLS. You will only need to identify the appropriate license in Montana and complete a few state specific fields.
Mortgage Loan Originators:
Mortgage loan originators working for mortgage lenders or brokers should consult with their employer before logging into the NMLS and completing Form MU4.
Mortgage loan originators whose licenses expire on April 1, 2010 must complete and submit a Form MU4 through the NMLS by March 1, 2010. Mortgage loan originators whose licenses expire on June 30, 2010 must complete and submit a Form MU4 by May 31, 2010.
Companies employing loan originators are required to sponsor their loan originator's license in NMLS. Be advised that the company MU1, the branch location MU3 (when the loan originator works from a branch) and the loan originator MU4 must all be submitted prior to the company sponsoring the loan originator's license.
It is important that current licensees have their Montana license number available when completing and submitting their Form MU4.
Note: If you have submitted a Form MU4 in another state, then you will not need to re-enter your record into NMLS. You will only need to identify the appropriate license in Montana and complete a few state specific fields.
Loan originators can complete and submit Form MU4 themselves or their company can complete Form MU4 and have the loan originator log in to the NMLS and electronically attest to its accuracy.
Mortgage loan originators whose licenses expire on June 30, 2010 must meet the additional requirements listed below by May 31, 2010. Mortgage loan originators whose licenses expire on April 1, 2010 must meet the additional requirements listed below by March 1, 2010.
Additional requirements will include:
- Pre-licensure education or certification
- A passing score on both the National and State components of the SAFE Test
- Satisfactory criminal background check including fingerprints
- Montana satisfactory review of a credit report
- License sponsorship in NMLS by your company
- Experience requirement
License Descriptions and Checklists