Montana SAFE 2 Hour | NMLS License

This class from Knowledge Coop covers a variety of NMLS-approved topics while making sure that you know specifics from the state of Montana, like that Loan Estimate and Closing Disclosure must be signed and dated by the borrower(s). (ARM 2.59.1710 and ARM 2.59.1724) We'll explain the record-keeping requirements for mortgage brokers and mortgage lenders and the general requirements for the maintenance, storage, transfer, and destruction of records. (32-9-121, MCA, and ARM 2.59.1710, 2.59.1724, and 2.59.1746). We'll demonstrate the requirements for advertising, including social media and individual websites if used for the provision of services.

You'll know the additional advertising requirements outlined in the mortgage lender prohibitions and under prohibited acts. (32- 9-124, 32-9-149, and 32-9-168, MCA) We'll discuss the Montana Mortgage Loan Origination Disclosure, which is required for loans brokered by mortgage loan originators, and its requirements, including that the form must be signed and dated by the borrower(s). (32-9-124(2), MCA, and ARM 2.59.1737) We'll articulate the prohibited acts for a mortgage loan originator. (32-9-124, MCA) You'll know that a mortgage loan originator may work for only one mortgage broker/mortgage lender. (32-9-116, MCA) We'll describe the role and responsibilities of a designated manager. (32-9-122, MCA) Finally, we'll look at case studies from your state.