Montana Mortgage License Requirements
Application Requirements to become licensed in Montana:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $0.00 |
| License Registration Fee | $400.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $50.00 |
| Credit Report Required | $15.00 |
| Criminal Background Check Required | $36.25 |
| Testing Required | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost | $110.00 |
| Work Remote Allowed | Yes |
*Note: A sponsorship request must be submitted by your employer. The company/branch requesting sponsorship must be licensed in Montana.
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. In addition, state licensed loan originator who fails to maintain a valid license for a period of 5 years or longer shall retake the test, not taking into account any time during which such individual is a registered loan originator.
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 Division of Banking and Financial Institutions Contact Info:
Phone: 406-841-2920
Email: mortgagelicensing@mt.gov
Website: https://banking.mt.gov/