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Montana Division of Banking and Financial Institutions · MT

MAR Notice 2-59-612: Notice of Amendment and Repeal pertaining to:

February 11, 2022

Summary

The Montana Division of Banking and Financial Institutions amended regulations to standardize NMLS-based application, amendment, and surrender procedures for consumer lenders and mortgage licensees. It clarifies definitions for mortgage licensees and formalizes licensure requirements regarding table funding activities.

MAR Notice 2-59-612 — published 2022-02-11

Notice of Amendment and Repeal pertaining to:

  • standardized forms and procedures of the NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
  • consumer loan license surrender;
  • definitions for mortgage licensees;
  • revocation, suspension, or surrender of mortgage licenses;
  • initial applications through NMLS for consumer loan licenses, escrow business licenses, sales finance company licenses, and deferred deposit lender licenses;
  • consumer loan license amendments and fees;
  • escrow business license amendments, surrender, and fees
  • sales finance company license amendments, surrender, and fees
  • deferred deposit lender license amendments, surrender, and fees; and
  • table funding requiring licensure for mortgage licensees.

Source: https://rules.mt.gov/gateway/ShowNoticeFile.asp?TID=10861

Common questions

What does "MAR Notice 2-59-612: Notice of Amendment and Repeal pertaining to:" cover?
The Montana Division of Banking and Financial Institutions amended regulations to standardize NMLS-based application, amendment, and surrender procedures…
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 February 11, 2022.

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