(1) Any person claiming to be exempt under 32-9-104, MCA, from the licensing requirements of the Montana Mortgage Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act must receive an exemption from the department before engaging in activities claimed to be exempt. A claim form may be found online at www.banking.mt.gov.

(2) A mortgage company entity that is exempt from licensing requirements under 32-9-104, MCA, may voluntarily register through NMLS for the purpose of sponsoring a mortgage loan originator licensee or license applicant. Any fee for such registration must be determined by NMLS and must be payable as directed by NMLS.

(3) For purposes of the licensing exemption in 32-9-104(1)(j), MCA, "bona fide low income individuals" are individuals:

(a) whose income is not more than two times the U.S. Department of Health and Human Services Poverty Guidelines for Montana in effect at the time the loan application is processed, adjusted for size of household, as published in the Federal Register under authority of 42 USC 9902(2);

(b) whose income does not exceed 115% of the median income in the applicable area of Montana as determined by the U.S. Department of Housing and Urban development, adjusted for size of household; or

(c) who are eligible under the income criteria for Habitat for Humanity housing assistance in the Montana county of the individual's residence.