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Mortgage licensing / Montana

Montana Mortgage Servicer License

company licence · NMLS MTSERVICER_C · BFI

Requirements (17)

  1. Step 1

    Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). The Montana Secretary of State does not limit the number of other trade names. If operating under an “Other Trade Name”, upload a file-stamped copy of the Certificate of Registration of Assumed Business Name from the Montana Secretary of State for each DBA regarding ability to do business under that trade name. Upload this document in NMLS under the Document Type “Trade Name/Assumed Name Registration Certificates” in the Document Uploads section of the Company Form (MU1).

    Submitted via: NMLS Upload in NMLS: under the Document Type “Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

  2. Step 2

    Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with Montana Secretary of State.

    Submitted via: NMLS

  3. Step 3

    Bank Account: Bank account information must be completed with company’s Trust accounts used for servicing Montana loans.

    Submitted via: NMLS

  4. Step 4

    MU2 Individual Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  5. Step 5

    MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  6. Step 6

    Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: Electronic Surety Bond in NMLS

  7. Step 7

    Surety Bond Requirements Table Unpaid Principal Balance Bond Amount No prior business history in Montana or a business history of less than one year in Montana; Less than $25 million $75,000 Less than $100 million $150,000 Less than $500 million $250,000 More than $500 million $350,000 Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement

  8. Step 8

    Financial Statements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS

  9. Step 9

    Financial Statements: Provide an audited financial statement dated within 90 days of your fiscal year end accompanied by a written statement by an independent certified public accountant attesting that the accountant has reviewed the financial statements in accordance with generally accepted accounting principles. Financial statements should include a Balance Sheet, Income Statement, and Statement of Cash Flows and all relevant notes thereto. Upload to the Financial Statement submenu section of the NMLS filing. PLEASE NOTE: Montana has minimum net worth and liquidity requirements for mortgage servicers: Servicers with government-sponsored enterprise loans must meet the highest standards set by the government-sponsored enterprise. Servicers of only nongovernment-sponsored enterprise loans must maintain a minimum tangible net worth of $1 million or maintain a $1 million surety bond. They also must maintain liquidity of 0.00035 times the UPB of the portfolio. See Mont. Code Ann. • 32-9-171.

  10. Step 10

    Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

    Submitted via: Upload in NMLS: under the Document Type “Business Plan” in the Document Uploads section of the Company Form (MU1).

  11. Step 11

    Certificate of Authority/Good Standing Certificate: Upload a Montana Secretary of State-issued and approved document dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in Montana. This document should be named Montana Certificate of Authorization or Montana Certificate of Existence. Upload a Secretary of State-issued and approved document from the applicant’s legal state of formation that demonstrates authorization to do business in that state.

    Submitted via: Upload in NMLS: under the Document Type “Certificate of Authority/Good Standing Certificate” in the Document Uploads section of the Company Form (MU1).

  12. Step 12

    Formation Documents: Determine classification of applicant’s legal status and submit a State-certified copy of the requested applicable documentation detailed below. Submit the original formation documents and all subsequent amendments thereto, including a list of any name changes. This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)]. Sole Proprietor • Registration of Assumed Business Name, if applicable. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-Corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-Corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Trust (Statutory) • Certificate of Trust; and Governing instrument (all amendments).

    Submitted via: Upload in NMLS: under “Formation Document” in the Document Uploads section of the Company Form (MU1).

  13. Step 13

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. This document should be named [Company Legal Name] Management Chart. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under “Management Chart” in the Document Uploads section of the Company Form (MU1).

  14. Step 14

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart/Description.

    Submitted via: Upload in NMLS: under “Organizational Chart/Description” in the Document Uploads section of the Company Form (MU1).

  15. Step 15

    Escrow Account Authorization: Upload authorization to allow examination of escrow accounts used for the purpose of holding funds belonging to others, if any. If the applicant does not hold borrower’s funds in escrow, please upload a letter of explanation. Click to download authorization to allow examination form.

    Submitted via: Upload in NMLS: Under “Trust Account Authorization” in the Document Uploads section of the Company Form (MU1).

  16. Step 16

    Schedule of Range of Costs and Fees: Upload a schedule of the costs and fees the mortgage servicer charges borrowers for servicing-related activities.

    Submitted via: Upload in NMLS: Under “Business Plan” in the Document Uploads section of the Company Form (MU1).

  17. Step 17

    Request Processing of Application This Calendar Year: If this application is submitted between November 1 and December 31, it will be considered an application for licensure during the next calendar year unless the applicant submits the form below to request that the application be processed for the current calendar year. The applicant must also pay the renewal fee by Dec. 31st which will be invoiced through NMLS. Mortgage Company/Branch Renewal Form PLEASE NOTE: the application must be complete in order to be processed, and processing of renewal applications will be given priority over processing new applications. ANY NEW LICENSE GRANTED IN THE CURRENT CALENDAR YEAR EXPIRES ON DECEMBER 31.

    Submitted via: E-Mail to MT

General information

Who Is Required to Have This License? Any entity (a business organization, including a sole proprietorship) that engages, for compensation or gain, in the business of receiving any scheduled periodic payment from a borrower pursuant to the terms of a residential mortgage loan, residential mortgage servicing documents, or residential mortgage servicing contract; or meets the definition of a servicer in 12 U.S.C. 2605(i)(2) with respect to residential mortgage loans. A license is required for any entity that engages in the residential loan business with a borrower regarding residential real estate located in Montana from any location. A residential mortgage loan is a loan primarily for personal, family, or household use secured by a security interest in a residential structure that contains 1 to 4 units, whether or not attached to real property, or residential real estate located in Montana. A residential structure includes a condo unit, a cooperative unit, and a mobile home or trailer, if used as a residence. Real property located in Montana upon which a dwelling is intended to be built within two years is included within this definition. The following entities do not need this license: • An entity that is an agency of federal, state, tribal, or local government. • A depository institution. • A subsidiary of a depository institution that is wholly-owned and controlled by a depository institution and regulated by a federal banking agency. • An entity that is a bona fide not-for-profit entity. • A person regulated by the commissioner of insurance if that person's principal business is that of preparing abstracts or making searches of titles that are used as a basis for the issuance of any title insurance policy by a company doing business under the laws of this state relating to insurance companies. • An entity that is not regularly engaged in the business of mortgage servicing. See Mont. Code Ann. § 32-9-103(39) and ARM 2.59.1754. In order for an entity to be licensed in Montana, each control person must independently meet the following requirements of Mont. Code Ann. § 32-9-120: 1) the control person has never had a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator license or an equivalent license revoked in any governmental jurisdiction; 2) the control person has not been convicted of or pled guilty or nolo contendere to a felony in a domestic, foreign, or military court during the 7-year period preceding the date of the application for licensing or renewal or at any time preceding the date of application if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering; 3) the control person has demonstrated financial responsibility, character, and general fitness to command the confidence of the community and to warrant a determination that the mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator will operate honestly, fairly, and efficiently within the purposes of this section; and 4) the control person has not made a material misstatement of fact or material omission of fact in the application. Control is defined in the NMLS Policy Guidebook for Licensees. Activities Authorized Under This License This license authorizes the following activities… • • First mortgage servicing - MSR • First mortgage servicing - Whole Loan • Interim Servicing • Reverse mortgage servicing • Subordinate lien mortgage servicing - MSR • Subordinate lien mortgage servicing - Whole Loan • Third party first mortgage servicing • Third party subordinate lien mortgage servicing Pre-Requisites for License Applications • The company must be located in the United States or a territory, including Puerto Rico and the U.S. Virgin Islands. Montana does not issue paper licenses for this license type. Fees collected through NMLS are NOT REFUNDABLE OR TRANSFERABLE. Mont. Code Ann. § 2-15-115 requires state agencies to place on an application form the estimated time it will take for an agency to process and act on a correctly completed application form. The agency average for all company applications is 40 days to act on a correctly completed application form.

Other Montana mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated July 28, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.

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