Montana Mortgage Licensing


 

Mortgage Banker

Mortgage Lender License

Physical In-State Office Required: No
Qualifying Individual: Yes, the designated manager must be located at the main office of the company, be licensed as a Montana mortgage loan originator, and have three years of experience.
Minimum Net Worth: $ None
Surety Bond: $50,000
Comment: Allows lending only, Broker License required to broker loans

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$850 – Company License Fee
$250 – $25k Surety Bond Fee
$29.25 – MT Fingerprinting Fee per Owner/Officer
$70 – Foreign CorpEntity Fee
$125 – Registered Agent Fee


 

Mortgage Broker

Mortgage Broker License

Physical In-State Office Required: No longer required as of 8/1/2009
Qualifying Individual: Yes, the designated manager must be located at the main office of the company, be licensed as a Montana mortgage loan originator, and have three years of experience.
Minimum Net Worth: $ None
Surety Bond: $25,000 per location

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$350 – Company License Fee
$250 – $25k Surety Bond Fee
$29.25 – MT Fingerprinting Fee
$70 – Foreign Entity Fee
$125 – Registered Agent Fee


 

Mortgage Servicer

Mortgage Servicer License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Surety Bond: $100,000

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$850 – Company License Fee
$1,000 – $100k Surety Bond Fee
$29.25 – MT Fingerprinting Fee per Owner/Officer
$70 – Foreign Entity Fee
$125 – Registered Agent Fee


 

Regulated by:

Department of Banking and Financial Institutions

301 South Park, Suite 316
PO Box 200546
Helena, MT 59601
Telephone: 406-841-2920
Fax: 406-841-2930