(1) A licensee shall receive credit for participation in a continuing education course if it is presented by a provider approved by the department and the department has approved the continuing education program pursuant to this rule.

(2) To receive approval of a continuing education course, the course provider must file an application with the department, which includes, but is not limited to the following items:

(a) course brochures, outlines, schedules, lesson plans, visual presentations, and course description (including a breakdown of time spent on each topic);

(b) a complete list of all examiners or instructors for the course, including their qualifications and experience with teaching courses similar to the course submitted for approval;

(c) a complete set of the curriculum materials. Materials will be retained by the department. Electronic format is acceptable;

(d) company history;

(e) sample course certificate of completion which must include, at a minimum;

(i) company name;

(ii) date of course;

(iii) course title;

(iv) instructor's signature;

(v) licensee's name; and

(vi) licensee's license number;

(f) list of other states in which approval to provide similar education is held; and

(g) a satisfactory timing method to properly monitor licensee's attendance and attention for the approved hours of the course.

(3) All instructors must have a minimum of five years of experience working as a mortgage broker, loan originator, mortgage banker, or work in a related field.

(4) The provider must submit, within 15 days of the end of the course, a class roster of licensees who successfully completed the course.

(5) Courses must reflect the activities performed by licensees and must provide licensees with a basic knowledge of and competency in any of the following:

(a) the following federal regulations:

(i) Real Estate Settlement Procedures Act;

(ii) Truth in Lending Act;

(iii) Equal Credit Opportunity Act;

(iv) Fair Credit Reporting Act;

(v) Fair Housing Act;

(vi) Home Mortgage Disclosure Act;

(vii) Gramm-Leach-Bliley Act; or

(viii) the regulations promulgated pursuant to these acts;

(b) ethics in the mortgage industry;

(c) features of various loan products;

(d) state and federally required disclosures;

(e) the Montana Mortgage Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act;

(f) Administrative Rules of Montana Title 2, chapter 59, subchapter 17; or

(g) other state and federal laws applicable to the mortgage broker industry.

(6) Approved courses may be offered through the Internet or through a classroom setting in which teachers and participants are physically present for the teaching of a course. Correspondence or mail courses will not be accepted.

(7) The provider shall file an application with the department that includes a copy of examinations to be used, if any, in determining satisfactory comprehension of the contents of the course and the grading scale to be used. Any new or revised courses, examinations, or grading scales to be used shall be submitted to the department for approval at least 60 days prior to use. Course materials may be submitted in electronic format. The department will consider continuing education disseminated by written or electronic means, including by the internet.

(8) The department shall review applications filed and determine whether to approve or deny the proposed provider. If the department approves the course or provider, the department shall issue a certificate of approval that will be effective until NMLS approves the continuing education courses and providers.

(9) The department shall provide a list of approved continuing education providers.

(10) A course provider that desires to renew the certificate of approval must apply to the department and file the items required in (2) no later than 60 days before the certificate expires.

(11) The department may audit an approved course at any time. If the course provider has not complied with the requirements of this rule, the department may suspend or terminate the approval and require the surrender of the certificate of approval.

(12) The department may deny, revoke, suspend, or terminate approval of any provider or individual course upon a finding that:

(a) any provider officer or employee who has obtained or used, or has attempted to obtain or use, in any manner or form, the examination questions for any purpose other than instruction;

(b) during any six-month period, fewer than 50% of the provider's program students taking the examination for the first time achieve a passing score;

(c) the provider failed to comply with any provision of this rule;

(d) the provider fails to take reasonable steps to ensure that the licensee spends the allotted hours in the course; or

(e) the provider has not conducted at least one continuing education program during the preceding 24-month period.

(13) The provider is entitled to a hearing on the denial, suspension, or revocation held under the Montana Administrative Procedure Act, Title 2, chapter 4, part 6, MCA. The provider shall request a hearing within ten days of the date the notice of findings is sent to them. The notice shall be served on the provider at its last known address by certified mail.

(14) A provider shall designate one person as its contact person who shall be available to the department during ordinary business hours and shall be knowledgeable and have authority to act with regard to all administrative matters concerning instructors, scheduling, advertising, recordkeeping, and supervising all programs offered by the provider.

(15) Providers shall not use any words, symbols or other means to indicate that either the provider or a program has received the department's approval unless such approval has been issued and remains in effect.

(16) The fee for review of an initial and biennial education provider application is $100 for the application fee and $50 for each continuing education credit hour requested. All fees are nonrefundable and must be submitted with the application.

(17) An education course relative to commercial lending, commercial loan brokering, or mortgage banking may not be used to satisfy continuing education requirements under this subchapter.

(18) An education provider shall maintain student records for three years.

(19) A continuing education course from another state shall satisfy the continuing education requirement if the department has approved the course for continuing education in this state.