Montana Division of Banking and Financial Institutions · MT
MAR Notice 2-59-500: Notice of Adoption, Amendment, and Repeal: Definition of origination of a mortgage loan, certificate of bona fide not-for-profit entity, state-specific prelicensing education, and when an application is deemed abandoned
December 27, 2013
Summary
This regulatory update amends Montana administrative rules to clarify definitions of mortgage loan origination, certificate requirements for not-for-profit entities, and prelicensing education standards. It also establishes criteria for deeming a mortgage application abandoned and updates various procedural requirements for mortgage servicers and license reinstatement.
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MAR Notice 2-59-500 — published 2013-12-27
Notice of Adoption, Amendment, and Repeal: Definition of origination of a mortgage loan, certificate of bona fide not-for-profit entity, state-specific prelicensing education, and when an application is deemed abandoned, the amendment of ARM 2.59.1701, 2.59.1702, 2.59.1728, 2.59.1731, and 2.59.1743 pertaining to definitions, proof of experience, standardized forms, reinstatement of licenses, and reporting forms for mortgage servicers, and the repeal of ARM 2.59.1725, 2.59.1727, and 2.59.1749 pertaining to licensing exemptions, mortgage loan originator testing, and written exemption form
Source: https://www.mtrules.org/gateway/ShowNoticeFile.asp?TID=5294
Common questions
- What does "MAR Notice 2-59-500: Notice of Adoption, Amendment, and Repeal: Definition of origination of a mortgage loan, certificate of bona fide not-for-profit entity, state-specific prelicensing education, and when an application is deemed abandoned" cover?
- This regulatory update amends Montana administrative rules to clarify definitions of mortgage loan origination, certificate requirements for…
- Which agency issued this update?
- This update was issued by Montana Division of Banking and Financial Institutions.
- When was it published?
- It was published on December 27, 2013.
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