17.84.133 EVALUATION OF LOAN REQUESTS
(1) The applicant shall choose a financial institution to
consider his loan request and shall provide the department's letter of
authorization for loan consideration to the lender.
(2) The department will
participate in a loan made by a financial institution only if the applicant
submits to the department:
(a) written evidence that
the financial institution has investigated and analyzed the applicant's loan
request and related materials in the same manner as its other loan requests and
consistent with the standard practices of financial institutions considering
the type, size, risk, and complexity of the loan requested and the type of
(b) a signed servicing
agreement the terms and conditions of which have previously been approved by
the department evidencing the financial institution's intent to originate the
loan under the conditions previously described by the department.
(3) The department will
indicate its decision to participate in a loan by executing the servicing
agreement and providing the financial institution with a completed standard
participation agreement the terms and conditions of which have been approved by
(4) When the financial institution
executes and delivers the completed participation agreement to the department,
the department is bound to participate in the loan.
History: 90-4-104, MCA; IMP, 90-4-101, 90-4-104, MCA; NEW, 1982 MAR p. 851, Eff. 4/30/82; TRANS, from DNRC, 1996 MAR p. 2863.