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Become A Mortgage Broker In Montana
Mortgage administration and regulation in Montana is handled by the Division of Banking and Financial
Institutions. Offices are located in Helena and Billings.
All Montana mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved Courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Montana-required content. A
minimum of eight hours per year of continuing
education is required per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $469 when applying from January 1 - June 30, and $269 for the remainder
of the year. The licensing fee for a broker
is $600/$270 for a main-office/branch office and $350/$145 for the remainder of the year.
Click on the links in the preceding sentences for more details about each license.
Applicants who wish to become a Mortgage Broker in Montana are required to have at least
three years of verifiable experience in the mortgage lending business, and need to pass an
examination that demonstrates competency to work as a Mortgage Broker. Broker Applicants
must also provide either a Surety Bond in the minimum amount of $25,000 or an irrevocable
Letter of Credit.
Mortgage Brokers must maintain a physical office within the state. This office may be by
itself or it may be in conjunction with another licensed mortgage broker within the state.
The office must have at least one phone line. All licensees must pay Montana State Income
Tax on earnings from within Montana.
The Montana Association of Mortgage Brokers (MAMB), is
an affiliate of the National Association of Mortgage Brokers
(NAMB) . The associations provide many additional sources of information regarding the
real estate industry for those who want to acquire a Mortgage Broker License in Montana.
We also offer information and resources for Montana Commercial Mortgage
Montana Mortgage Forms
|
Montana Reciprocity States
|
- Most Mortgage forms can be obtained online.
Ones listed below pertain to new salespersons and
brokers.
- Find
a Montana testing center
|
N/A
(as of 2/23/2010)
|
Montana Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A |
Private Schools
Abacus Mortgage Training
McKissock.com
TheMortgageTrainingCenter.com
Training Pro
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Banking and Financial
Institutions website for the latest list of approved schools. |
More from MND:
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This email was sent to you by:
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Anonymous Loan Representative University Mortgage Hackensack NJ 07601 |
(201) 820-4420 |
Message:
YOUR MESSAGE HERE
Become A Mortgage Broker In Montana
Mortgage administration and regulation in Montana is handled by the Division of Banking and Financial
Institutions. Offices are located in Helena and Billings.
All Montana mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved Courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Montana-required content. A
minimum of eight hours per year of continuing
education is required per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $469 when applying from January 1 - June 30, and $269 for the remainder
of the year. The licensing fee for a broker
is $600/$270 for a main-office/branch office and $350/$145 for the remainder of the year.
Click on the links in the preceding sentences for more details about each license.
Applicants who wish to become a Mortgage Broker in Montana are required to have at least
three years of verifiable experience in the mortgage lending business, and need to pass an
examination that demonstrates competency to work as a Mortgage Broker. Broker Applicants
must also provide either a Surety Bond in the minimum amount of $25,000 or an irrevocable
Letter of Credit.
Mortgage Brokers must maintain a physical office within the state. This office may be by
itself or it may be in conjunction with another licensed mortgage broker within the state.
The office must have at least one phone line. All licensees must pay Montana State Income
Tax on earnings from within Montana.
The Montana Association of Mortgage Brokers (MAMB), is
an affiliate of the National Association of Mortgage Brokers
(NAMB) . The associations provide many additional sources of information regarding the
real estate industry for those who want to acquire a Mortgage Broker License in Montana.
We also offer information and resources for Montana Commercial Mortgage
Montana Mortgage Forms
|
Montana Reciprocity States
|
- Most Mortgage forms can be obtained online.
Ones listed below pertain to new salespersons and
brokers.
- Find
a Montana testing center
|
N/A
(as of 2/23/2010)
|
Montana Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A |
Private Schools
Abacus Mortgage Training
McKissock.com
TheMortgageTrainingCenter.com
Training Pro
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Banking and Financial
Institutions website for the latest list of approved schools. |
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.