reglab/housing_qa huggingface dataset:
MT Code § 32-9-141 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-141. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence

  32-9-141. Investigations by department -- subpoenas -- oaths -- examination of witnesses and evidence. (1) For the purposes of this part, the department or the department's authorized representatives must be given free access to the offices and places of business and files of all licensees and their service providers. The department may investigate any matter, upon complaint or otherwise, if it appears that a person has engaged in or offered to engage in any act or practice that is in violation of any provision of this part or any rule adopted or order issued by the department pursuant to this part.   (2) The department may issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records, and other evidence before it in any matter over which it has jurisdiction, control, or supervision pertaining to this part. The department may administer oaths and affirmations to a person whose testimony is required.   (3) If a person refuses to obey a subpoena or to give testimony or produce evidence as required by the subpoena, a judge of the district court of Lewis and Clark County or the county in which the licensed premises are located may, upon application and proof of the refusal, issue a subpoena or subpoena duces tecum for the witness to appear before the department to give testimony and produce evidence as may be required. The clerk of court shall then issue the subpoena, as directed, under the seal of the court, requiring the person to whom it is directed to appear at the time and place designated in the subpoena.   (4) If a person served with a subpoena refuses to obey the subpoena or to give testimony or produce evidence as required by the subpoena, the department may proceed under the contempt provisions of Title 3, chapter 1, part 5.   (5) Failure to comply with the requirements of a court-ordered subpoena is punishable pursuant to 45-7-309.   History: En. Sec. 13, Ch. 498, L. 2007; amd. Sec. 10, Ch. 65, L. 2019.
MT Code § 32-9-142 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-142. Cease and desist orders

  32-9-142. Cease and desist orders. (1) If it appears to the department that a person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this part or any rule adopted or order issued by the department pursuant to this part, the department may issue an order directing the person to cease and desist from continuing the act or practice after reasonable notice and opportunity for a hearing. The order may apply only to the alleged act or practice constituting a violation of this chapter. The department may issue a temporary order pending the hearing that:   (a) remains in effect until 10 days after the hearings examiner issues proposed findings of fact and conclusions of law and a proposed order; or   (b) becomes final if the person to whom notice is addressed does not request a hearing within 10 days after receipt of the notice.   (2) A violation of an order issued pursuant to this section is subject to the penalty provisions of this part.   History: En. Sec. 14, Ch. 498, L. 2007.
MT Code § 32-9-143 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-143. and 32-9-144 reserved

  32-9-143 and 32-9-144 reserved.
MT Code § 32-9-145 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-145. Escrow fund

  32-9-145. Escrow fund. (1) An escrow fund authorized for any purpose by a mortgage loan contract is subject to applicable state and federal requirements. Money received from a borrower by a mortgage lender or mortgage servicer licensed under this part must be considered as held in trust immediately upon receipt. The mortgage lender or mortgage servicer shall place escrow funds in a depository institution prior to the end of the third business day following their receipt.   (2) An escrow fund account must be a separate account established to hold only borrowers' funds. The account must be designated and maintained for the benefit of borrowers. Escrow funds may not be commingled with any other funds.   (3) Escrow funds must be kept in the segregated account until disbursement. Money maintained in an escrow fund account is exempt from execution, attachment, or garnishment.   (4) A licensee may not encumber the corpus of an escrow fund account or commingle other operating funds with account funds.   (5) An escrow fund account may be used only for:   (a) a payment authorized by the borrower or the mortgage loan contract or required by federal or state law;   (b) a refund to the borrower;   (c) transfer to a depository institution;   (d) transfer to the appropriate mortgage lender or mortgage servicer in the case of a transfer of servicing;   (e) a purpose authorized by the mortgage loan contract; or   (f) purposes of complying with an order issued by the commissioner or a court.   (6) Accounting for escrow funds must be performed in compliance with the aggregate accounting rules established in regulation X, 24 CFR 3500, and in compliance with 71-1-115. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 23, Ch. 321, L. 2009; amd. Sec. 32, Ch. 317, L. 2011.
MT Code § 32-9-146 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-146. and 32-9-147 reserved

  32-9-146 and 32-9-147 reserved.
MT Code § 32-9-149 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-149. Use of name -- advertising

  32-9-149. Use of name -- advertising. (1) A licensee engaged in a business regulated by this part may not operate under a name other than the name licensed by the department.   (2) A licensee may not:   (a) advertise that an applicant has unqualified access to credit without disclosing that material limitations on the availability of credit may exist, such as the percentage required as a down payment, that a higher interest rate or points could be required, or that restrictions as to the maximum principal amount of the mortgage loan offered could apply;   (b) advertise a mortgage loan with a prevailing interest rate indicated in the advertisement unless the advertisement specifically states that the interest rate could change or not be available at the time of commitment or closing;   (c) advertise mortgage loans, including interest rates, margins, discounts, points, fees, commissions, or other material information, including material limitations on the mortgage loans, unless the licensee is able to make or broker the offered mortgage loans to a reasonable number of qualified applicants;   (d) engage in false, deceptive, or misleading advertising; or   (e) falsely advertise or misuse names in violation of 18 U.S.C. 709.   (3) The department may adopt rules to define false, deceptive, or misleading advertising.   (4) In any printed, published, e-mail, or internet advertisement for the provision of services, the following information must be included:   (a) a name and unique identifier for a mortgage loan originator advertising as an individual; or   (b) the name and unique identifier only of the licensed entity when the licensed entity is advertising on its own behalf or as an entity with one or more mortgage loan originators listed.   (5) The department may adopt rules to establish requirements for licensee advertising using the internet or any electronic format.   History: En. Sec. 13, Ch. 125, L. 2013; amd. Sec. 11, Ch. 65, L. 2019.
MT Code § 32-9-150 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-150. Unique identifier for mortgage brokers, mortgage lenders, mortgage servicers, mortgage loan originators, and registered mortgage loan originators

  32-9-150. Unique identifier for mortgage brokers, mortgage lenders, mortgage servicers, mortgage loan originators, and registered mortgage loan originators. (1) Each licensed mortgage broker, mortgage lender, mortgage servicer, and mortgage loan originator shall post the mortgage broker's, mortgage lender's, mortgage servicer's, or mortgage loan originator's unique identifier in a conspicuous place within the office where the licensee principally transacts business.   (2) The department shall provide a link to the consumer access portion of the NMLS on the department's website. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 28, Ch. 321, L. 2009; amd. Sec. 35, Ch. 317, L. 2011; amd. Sec. 25, Ch. 125, L. 2013.
MT Code § 32-9-151 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-151. Mortgage call reports

  32-9-151. Mortgage call reports. (1) Each licensee shall submit to the NMLS reports of condition, which must be in the form and must contain information that the NMLS may require.   (2) Each mortgage loan originator shall ensure that all residential mortgage loans that close as a result of the mortgage loan originator's loan origination activities are included in the report of condition submitted to the NMLS. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 29, Ch. 321, L. 2009; amd. Sec. 36, Ch. 317, L. 2011; amd. Sec. 26, Ch. 125, L. 2013.
MT Code § 32-9-152 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-152. Electronic record as original document

  32-9-152. Electronic record as original document. Any document or record that is required to be signed and that is filed in this state as an electronic record through the NMLS and any other electronic record filed through the NMLS must be considered a valid original document upon reproduction to paper form by the department.   History: En. Sec. 19, Ch. 125, L. 2013.
MT Code § 32-9-153 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-153. and 32-9-154 reserved

  32-9-153 and 32-9-154 reserved.
MT Code § 32-9-155 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-155. Nationwide mortgage licensing system information challenge process

  32-9-155. Nationwide mortgage licensing system information challenge process. The department shall establish a process under which mortgage brokers, mortgage lenders, mortgage servicers, and mortgage loan originators may challenge information entered into the NMLS by the department. (See part compiler's comment regarding contingent suspension.)   History: En. Sec. 30, Ch. 321, L. 2009; amd. Sec. 27, Ch. 125, L. 2013.
MT Code § 32-9-156 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-156. through 32-9-159 reserved

  32-9-156 through 32-9-159 reserved.
MT Code § 32-9-161 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-161. through 32-9-164 reserved

  32-9-161 through 32-9-164 reserved.
MT Code § 32-9-165 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-165. Types of licenses

  32-9-165. Types of licenses. (1) The four types of licenses under this part are mortgage broker licenses, mortgage lender licenses, mortgage servicer licenses, and mortgage loan originator licenses.   (2) A mortgage broker license may be issued to an entity that meets the requirements of 32-9-112, 32-9-113, 32-9-116, 32-9-117, 32-9-122, and 32-9-123 and employs at least one Montana-licensed mortgage loan originator.   (3) A mortgage lender license may be issued to an entity that meets the requirements of 32-9-112, 32-9-113, 32-9-116, 32-9-117, 32-9-122, and 32-9-123 and employs at least one Montana-licensed mortgage loan originator.   (4) A mortgage servicer license may be issued to an entity that meets the requirements of 32-9-112, 32-9-113, 32-9-117, and 32-9-123.   (5) A mortgage loan originator license may be issued to an individual who meets the requirements of 32-9-107, 32-9-109, 32-9-110, 32-9-112, 32-9-116, and 32-9-117 and is sponsored by a Montana-licensed mortgage broker or mortgage lender.   (6) A de novo inactive license may be issued to a mortgage loan originator that has met all the requirements for licensure except sponsorship.   (7) A de novo inactive license may be issued to an entity that has met all the requirements for licensure except employment of at least one Montana-licensed mortgage loan originator.   (8) Business may not be conducted under a de novo inactive license.   (9) A Montana-licensed entity may have one or more branch offices if the entity meets the requirements of 32-9-122 and has paid the fee required under 32-9-117.   (10) Licenses under this part may not be assigned or transferred.   History: En. Sec. 8, Ch. 317, L. 2011; amd. Sec. 29, Ch. 125, L. 2013.
MT Code § 32-9-166 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-166. Reports

  32-9-166. Reports. (1) A licensee shall file a written report with the department through the NMLS within 30 business days of any material change to the information provided in a licensee's application.   (2) A licensee shall file a written report with the department within 1 business day after the licensee has reason to know of the occurrence of any of the following:   (a) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. 101, et seq., for bankruptcy or reorganization;   (b) the filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for the licensee's dissolution or reorganization, or the making of a general assignment for the benefit of the licensee's creditors;   (c) the licensee's decision to cease doing business for any reason;   (d) the commencement of a proceeding to revoke or suspend the licensee's license in a state in which the licensee engages in business or is licensed;   (e) the cancellation or other impairment of the licensee's or an exempt company's bond; or   (f) a felony conviction of the licensee, employee of a licensee, or control person of a licensee.   (3) A licensee shall file a written report with the department through the NMLS within 15 business days after the licensee has reason to know of the occurrence of any of the following:   (a) fraud, theft, or conversion by a borrower against the licensee;   (b) fraud, theft, or conversion by a licensee;   (c) fraud, theft, or conversion by an employee or independent contractor of a licensee;   (d) violation of a provision of 32-9-124;   (e) the discharge of any employee or termination of an independent contractor for dishonest or fraudulent acts; or   (f) any administrative, civil, or criminal action initiated against the licensee or any of its control persons by any government entity.   (4) (a) In the absence of malice, fraud, or bad faith, a person may not be subjected to civil liability arising from the filing of a complaint with the department or furnishing of other information required by this section or required by the department under the authority granted in this section.   (b) In the absence of malice, fraud, or bad faith, a civil cause of action of any nature may not be brought against a person for any information:   (i) relating to suspected prohibited acts and furnished to or received from law enforcement officials, their agents, or employees or furnished to or received from other regulatory or licensing authorities;   (ii) furnished to or received from other persons subject to the provisions of this part; or   (iii) furnished in complaints filed with the department.   History: En. Sec. 21, Ch. 317, L. 2011; amd. Sec. 14, Ch. 24, L. 2015.
MT Code § 32-9-167 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-167. Change of control

  32-9-167. Change of control. (1) Without the prior approval of the department, it is unlawful for an action to be taken that results in a change of control of an entity licensed under this part. Prior to a change of control of a licensed entity, a person seeking to acquire control shall apply for an amendment to the license or a new license as required by the NMLS and pay all applicable fees.   (2) The department shall approve or disapprove the application for an amendment or new license in accordance with the provisions of this part.   History: En. Sec. 22, Ch. 317, L. 2011; amd. Sec. 30, Ch. 125, L. 2013.
MT Code § 32-9-168 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-168. Mortgage lender prohibitions

  32-9-168. Mortgage lender prohibitions. A mortgage lender may not:   (1) cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer;   (2) disburse the mortgage loan proceeds to a closing agent in any form other than, as applicable:   (a) direct deposit to a borrower's account;   (b) wire transfer;   (c) bank or certified check;   (d) attorney's check drawn on a trust account; or   (e) other form as specifically authorized by applicable law;   (3) disburse the proceeds of a mortgage loan without sufficient collected funds on hand at the time of the disbursement in the account upon which the funds are drawn;   (4) fail to disburse funds in accordance with a loan commitment to make a mortgage loan that was accepted by the borrower;   (5) fail to take the actions required to effect a release of the lender's security interest in the property as described in 71-1-212;   (6) advertise that a mortgage applicant will have unqualified access to credit without disclosing what material limitations on the availability of credit exist, such as the percentage of downpayment required, that a higher rate or points could be required, or that restrictions as to the maximum principal amount of the mortgage loan offered could apply;   (7) advertise a mortgage loan for which a prevailing rate is indicated in the advertisement unless the advertisement specifically states that the expressed rate could change or not be available at commitment or closing;   (8) advertise mortgage loans, including rates, margins, discounts, points, fees, commissions, or other material information, including material limitations on mortgage loans, unless the person is able to make advertised mortgage loans to a reasonable number of qualified applicants; or   (9) falsely advertise or misuse names in violation of 18 U.S.C. 709 or 32-1-402.   History: En. Sec. 24, Ch. 317, L. 2011.
MT Code § 32-9-169 (2021)
2021 Montana Code Annotated|Title 32. Financial Institutions|Chapter 9. Residential Mortgage Brokers, Lenders, Servicers, and Loan Originators|Part 1. Montana Mortgage Act|32-9-169. Mortgage servicer prohibitions

  32-9-169. Mortgage servicer prohibitions. A mortgage servicer may not:   (1) fail to comply with the mortgage loan servicing transfer, escrow account administration, or borrower inquiry response requirements imposed by the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. 2601, et seq., and regulations adopted under that act;   (2) fail to comply with applicable state and federal laws, rules, and regulations related to mortgage servicing;   (3) fail to provide written notice to a borrower upon taking action to place hazard, homeowner's, or flood insurance on the mortgaged property or to place the insurance when the mortgage servicer knows or has reason to know that there is insurance in effect;   (4) place hazard, homeowner's, or flood insurance on a mortgaged property for an amount that exceeds either the value of the insurable improvements or the last-known coverage amount of insurance;   (5) fail to provide to the borrower a refund of unearned premiums paid by a borrower or charged to the borrower for hazard, homeowner's, or flood insurance placed by a mortgage lender or mortgage servicer if the borrower provides reasonable proof that the borrower has obtained coverage so that the forced placement is no longer necessary and the property is insured. If the borrower provides reasonable proof within 12 months of the placement that no lapse in coverage occurred so that the forced placement was not necessary, the mortgage servicer shall refund the entire premium.   (6) fail to make all payments from any escrow account held for the borrower for insurance, taxes, and other charges with respect to the property in a timely manner so as to ensure that late penalties are not assessed or other negative consequences do not result regardless of whether the loan is delinquent unless there are not sufficient funds in the account to cover the payments and the mortgage servicer has a reasonable basis to believe that recovery of the funds will not be possible.   History: En. Sec. 25, Ch. 317, L. 2011; amd. Sec. 15, Ch. 24, L. 2015; amd. Sec. 13, Ch. 275, L. 2017.