This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Montana under the Division of Banking and Financial Institutions (DBFI). This 2-hour course covers Montana specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a Montana mortgage loan originator.

Topics and Learning Objectives

This course consists of two modules and a final exam:

1. The Montana Mortgage Act
2. Administrative Rules of Montana
3. Final Exam

Total study time: 2 credit hours (100 minutes)

Module 1: The Montana Mortgage Act

This module will explain the Montana Mortgage Act, 32-9-101 MCA through 32-9-172 MCA. This act outlines the licensing regulations of the residential mortgage industry in our state. The intention of the act is to promote honesty, education, and professionalism; to ensure the availability and diversity of residential mortgage funding; and to protect Montana consumers and the stability of Montana's economy.

Module 2: Administrative Rules of Montana

This module will explain the administrative rules of the Montana Department of Administration (DOA) and its Division of Banking and Financial Institutions (DBFI). The Administrative Rules of Montana (ARM) define the recordkeeping requirements of licensees relating to file such as disclosures, applications, advertisements, and complaints.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center