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

Summary

This Montana rule notice proposes updates to licensing requirements and procedures for consumer lenders, mortgage brokers, and escrow businesses using the NMLS platform. It establishes standardized processes for license applications, amendments, and surrenders while refining definitions related to mortgage licensee conduct and table funding licensure. These changes aim to harmonize state oversight with national system standards.

MAR Notice 2-59-612 — published 2021-12-23

Notice of Proposed 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.

Common questions

What does "MAR Notice 2-59-612: Notice of Proposed Amendment and Repeal pertaining to:" cover?

This Montana rule notice proposes updates to licensing requirements and procedures for consumer lenders, mortgage brokers, and escrow businesses using the…

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 23, 2021.

Summary

Common questions

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