Montana Code 32-9-129. Loan processors and underwriters
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32-9-129. Loan processors and underwriters. A person engaging in loan processor or underwriter activities may not represent to the public, through advertising or other means of communication, that the person can or will perform any of the activities of a mortgage loan originator. (See part compiler’s comment regarding contingent suspension.)
Terms Used In Montana Code 32-9-129
- Advertising: means a commercial message in any medium, including social media and software, that promotes, either directly or indirectly, a residential mortgage loan transaction. See Montana Code 32-9-103
- Loan processor or underwriter: means an individual who, with respect to the origination of a residential mortgage loan, performs clerical or support duties as an employee at the direction of and subject to the supervision of a licensed mortgage loan originator or registered mortgage loan originator. See Montana Code 32-9-103
- Person: means an individual, sole proprietorship, corporation, company, limited liability company, partnership, limited liability partnership, trust, or association. See Montana Code 32-9-103