32-9-129. Loan processors and underwriters. - Montana Statutes

     32-9-129. Loan processors and underwriters. (1) A person engaging solely in loan processor or underwriter activities may not represent to the public, through advertising or other means of communication, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the person can or will perform any of the activities pertaining to originating a residential mortgage loan.
     (2) A loan processor or underwriter who is an independent contractor may not engage in mortgage loan originator activities unless licensed as a mortgage loan originator under this part. Each independent contractor loan processor or underwriter licensed as a mortgage loan originator shall maintain a valid unique identifier issued by the nationwide mortgage licensing system and registry.

     History: En. Sec. 5, Ch. 321, L. 2009.