Montana State Licenses and Regulator Costs

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Mortgage Broker License (Company)

NMLS Cost: $600
Additional Costs: $15 per credit report, $36.25 per criminal background check
Qualifying Individual: required for each licensed location; must be licensed in approved status as Montana mortgage loan originator
Surety Bond Requirement: varies from $25,000 to $100,000 depending upon loan volume (contact us for details)

Mortgage Lender License (Company)

NMLS Cost: $1450
Additional Costs: $15 per credit report, $36.25 per criminal background check
Qualifying Individual: required for each licensed location; must be licensed in approved status as Montana mortgage loan originator
Surety Bond Requirement: varies from $25,000 to $100,000 depending upon loan volume (contact us for details)

Mortgage Servicer License (Company)

NMLS Cost: $1450
Additional Costs: $15 per credit report, $36.25 per criminal background check
Qualifying Individual: required for each licensed location; must be licensed in approved status as Montana mortgage loan originator
Surety Bond Requirement: $100,000

Mortgage Broker Branch License (Branch)

NMLS Cost: $279
Additional Costs: $15.00 per credit report, $36.25 per criminal background check
Branch Manager: must have three (3) years of mortgage experience and be a licensed Montana loan originator

Mortgage Lender Branch License (Branch)

NMLS Cost: $270
Additional Costs: $15.00 per credit report, $36.25 per criminal background check
Branch Manager: must have three (3) years of mortgage experience and be a licensed Montana loan originator

Mortgage Servicer Branch License (Branch)

Mortgage Loan Originator (Individual)

NMLS Cost: $430
Additional Costs: $15.00 per credit report, $36.25 per criminal background check
Education: Montana requires two (2) hours of Montana-approved pre-licensure education as part of your national education requirement
Additional experience requirements: a branch manager requires three (3) years of mortgage experience; a responsible individual requires one and a half (1.5) years of experience