CLARIFICATION OF DEFINITION OF "REGULARLY ENGAGE"

(1) A person who advertises in any manner is holding themselves out to the public as being able to act as a mortgage loan originator, mortgage broker, mortgage lender, or mortgage servicer in Montana. By so doing, the person expects to engage in the business of a mortgage loan originator, mortgage broker, mortgage lender, or mortgage servicer in Montana within the meaning of 32-9-103 (39), MCA. (2) If a person licensed through the NMLS as a mortgage loan originator, mortgage broker, mortgage lender, mortgage servicer, or similar person in another state acts as a mortgage loan originator, mortgage broker, mortgage lender, or mortgage servicer in Montana, they are regularly engaging in business in Montana within the meaning of 32-9-103 (39), MCA. Authorizing statute(s): 32-9-130 , MCA Implementing statute(s): 32-9-103 (39), MCA History: NEW, 2016 MAR p. 1845, Eff. 10/15/16.