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2.59.1708 TABLE FUNDING REQUIRES LICENSURE (1) Any person not exempted from the Montana Mortgage Act under 32-9-104, MCA, who closes a mortgage loan naming themselves as the lender and who, within three business days of closing, consummates sale of the mortgage loan note to another party, commonly known as "table funding" as defined in ARM 2.59.1701, must be licensed as a mortgage broker or loan originator.
History: 32-9-130, MCA; IMP, 32-9-102, MCA; NEW, 2004 MAR p. 1133, Eff. 5/7/04; AMD, 2011 MAR p 2392, Eff. 11/11/11; AMD, 2017 MAR p. 1049, Eff. 7/8/17. |
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