32-9-117. Fees -- license renewal -- disposition of fees. (1) (a) An entity seeking licensure as a mortgage broker shall pay through the nationwide mortgage licensing system and registry an initial nonrefundable license application fee of $500 and an additional application fee of $250 for any branch office. A mortgage loan originator shall pay through the nationwide mortgage licensing system and registry an initial nonrefundable license application fee of $400. An entity seeking licensure as a mortgage lender shall pay through the nationwide mortgage licensing system and registry an initial nonrefundable license application fee of $750 and an additional application fee of $250 for any branch office. An entity seeking licensure as a mortgage servicer shall pay through the nationwide mortgage licensing system and registry an initial nonrefundable license application fee of $750 and an additional nonrefundable application fee of $250 for each branch office.
     (b) A mortgage broker entity owned by a Montana-licensed mortgage loan originator shall pay through the nationwide mortgage licensing system and registry an initial nonrefundable license application fee of $100.
     (2) The license of a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator is valid for up to a 1-year period and expires on December 31. A state licensee shall submit a renewal application and pay to the nationwide mortgage licensing system and registry a renewal fee in an amount set by the department by rule. The department shall establish by rule the requirements for renewal applications. The fees set by the department must be commensurate with the costs of the program. If the required information or fees are not submitted within the time prescribed, the license will automatically be placed in "Terminated-Expired" status. The department may adopt procedures for reinstatement of expired licenses that are consistent with the standards established by the nationwide mortgage licensing system and registry.
     (3) An application for renewal of a mortgage loan originator license must be accompanied by evidence that the continuing education requirements provided for in 32-9-118 have been met and that there has not been a material change in the status of the licensee in the preceding 12 months. An application for renewal also must demonstrate that the licensee continues to meet the standards for licensure under this part and that the licensee has paid all fees for renewal of the license.
     (4) The state portion of the fees collected under this section must be deposited in the department's state special revenue fund to be used by the department in administering the provisions of this part.
     (5) An applicant for a mortgage broker, mortgage lender, mortgage servicer, or mortgage loan originator license renewal shall apply for state licensure on an application form approved by the nationwide mortgage licensing system and registry. (See compiler's comment regarding contingent suspension.)

     History: En. Sec. 11, Ch. 516, L. 2003; amd. Sec. 1, Ch. 368, L. 2005; amd. Sec. 6, Ch. 498, L. 2007; amd. Sec. 15, Ch. 321, L. 2009; amd. Sec. 15, Ch. 317, L. 2011.