Process "mtmfs" is using 98% of cpu, heating up the core and runing the fans flat out Process "mtmfs" is using 98% of cpu, heating up the core and runing the fans flat out.

I have quite the process through activity monitor, but does anyone know a longer term solution?

I am running a MacBook Pro 2.2 GHz Intel Core i7 with 8GB RAM and OS 10.7.1
Presumably you're using Time Machine?  mtmfs is Mobile Time Machine file system daemon.  Have you tried disabling Time Machine?