Montana is a state that practices both judicial and nonjudicial foreclosures. Many mortgage lenders choose to go through the judicial process, and the mortgage lender isn’t allowed to sue the borrower for a deficiency unless the foreclosure process was judicial. Montana is also a recourse state, but it is restricted.
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The Montana mortgage lender, broker, and servicer licenses are for any companies who regularly engage in the business of residential mortgage lenders, brokers, or servicers with Montana consumers, unless exempt under 32-9-104. These licenses are separate – each license is needed to engage in each activity, e.g. a lender license does not cover brokering.
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MONTANA MORTGAGE LENDER LICENSE New Application Checklist Agency Requirements This document includes instructions for a mortgage lender company (corporation location) new application request. If you need to complete a new application for a branch location or individual, please refer to the appropriate new application checklist.
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A mortgage consultant from Montana Family Mortgage can help determine the right. Contact Montana Family Mortgage today to discuss your mortgage loan.
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