Montana adopted rules reducing license renewal fees under the Montana Mortgage Act (MMA). Under the adopted rules, renewal fees for licenses issued under the MMA are reduced by 75% for 2019. The renewal fees for the 2019 calendar year are $187.50 for a mortgage lender or servicer, $125 for a mortgage broker, $100 for a mortgage loan originator and $62.50 for a branch office. The reduced renewal fees are for the year 2019 only and no reduction will apply to renewal fees in 2020. The adopted rules also clarify that a person who owns a mortgage broker entity and is also individually licensed as a mortgage loan originator will pay a single license renewal fee of $500. In addition, the adopted rules add a definition for “breach of trust” and “dishonesty.” The adopted rules went into effect April 28, 2018.
See Montana Secretary of State website for the full text of the Regulations:
http://doa.mt.gov/Portals/65/Rules/2-59-571adp-arm.pdf
http://www.mtrules.org/gateway/ShowNoticeFile.asp?TID=8327
* Note that both links need to be viewed in conjunction with each other to get the full text of the regulations.
