Montana Mortgage License Requirements

Learn about the Montana mortgage education requirements for mortgage licensing.

In the state of Montana, mortgage loan originators are required to:

1. Complete a civil and Criminal Background Check (CBC).
2. Authorize a credit report through the NMLS.
3. Fulfill all state and federal education requirements as designated by your state agency.
4. Take and pass a National Test.
5. Sponsorship: Mortgage loan originators may not be employed by, or perform mortgage origination activities for, more than one Montana entity licensee simultaneously. A sponsorship request must be submitted by an approved mortgage broker or lender before the license will be fully approved. If the originator is not currently employed by an approved mortgage broker or lender, the application will be placed into an “Approved-Inactive” status until sponsored.
6. Experience: Designated managers must have 3 years of experience.
7. Bond amount: (Bond may be carried by the employer of the mortgage loan originator)

• $25,000 for a combined annual loan production that does not exceed $50 million per year.
• $50,000 for annual loan production of $50 million but not exceeding $100 million per year.
• $100,000 for annual loan production of more than $100 million per year.
• Fee: $430 (includes the NMLS fee).

Montana NMLS Pre-Licensing Education Requirements:

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:

• 3 hours of federal law
• 3 hours of ethics
• 2 hours of non-traditional mortgage lending
• 10 hours of electives
• 2 hours of Montana state-specific education

Note: PE education is valid for three years from the date the education was completed or the last day you held a mortgage loan originator license or registration in any jurisdiction, whichever is later.

Montana Continuing Education Requirements:

State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

• 3 hours of federal law
• 2 hours of ethics
• 2 hours of non-traditional mortgage lending
• 1 hour of electives

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.

Montana Mortgage Licensing: 

• Montana Division of Banking and Financial Institutions
• Phone: 406-841-2920
• Email: mortgagelicensing@mt.gov
• Website: https://banking.mt.gov/

NMLS Resources:

• Montana MLO License Description Page
• Professional Standards: Mortgage Education
• Professional Standards: Criminal Background Check 
• Professional Standards: Credit Report
• Professional Standards: MLO Testing