Montana § 32-9-202 Applicability -- Exclusions

Montana Statutes

§ 32-9-202 — Applicability -- Exclusions

Montana § 32-9-202

Title 32FINANCIAL INSTITUTIONS

Ch. 9RESIDENTIAL MORTGAGE BROKERS, LENDERS, SERVICERS, AND LOAN ORIGINATORS

Part 2Nonbank Mortgage Servicers

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Bluebook

Mont. Code Ann. § 32-9-202 (2026).

Text

32-9-202 . Applicability -- exclusions.

(1)This part is applicable to covered institutions. For entities within a holding company or affiliated group of companies, applicability is at the covered institution level.

(2)The following exclusions apply:

(a)This part does not apply to not-for-profit servicers or housing finance agencies.

(b)Section 32-9-206 does not apply to servicers solely owning or conducting reverse mortgage servicing, or the reverse mortgage portfolio administered by covered institutions or the whole loan portion of portfolios.

(c)A servicer with 25 or fewer loans, a servicer that is wholly owned and controlled by one or more depository institutions regulated by a state or federal banking agency, or a servicer that is also licensed as an escrow business may apply to t

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32-9-202 . Applicability -- exclusions. (1) This part is applicable to covered institutions. For entities within a holding company or affiliated group of companies, applicability is at the covered institution level.
(2) The following exclusions apply:
(a) This part does not apply to not-for-profit servicers or housing finance agencies.
(b) Section 32-9-206 does not apply to servicers solely owning or conducting reverse mortgage servicing, or the reverse mortgage portfolio administered by covered institutions or the whole loan portion of portfolios.
(c) A servicer with 25 or fewer loans, a servicer that is wholly owned and controlled by one or more depository institutions regulated by a state or federal banking agency, or a servicer that is also licensed as an escrow business may apply to the department to waive or adjust one or more of the financial condition requirements in 32-9-206 . In considering such a request, the department shall consider whether the servicer has a positive net worth and adequate operating reserves.