Title XXIX — OWNERSHIP AND CONVEYANCE OF PROPERTY

443.400. Redemption before sale. — If such property is redeemed by payment to the officer before the sale, such officer shall make a certificate of such redemption, and acknowledge the same before some officer authorized to take acknowledgments of deeds for lands; and such certif…

443.410. Foreclosures by trustee's sale — how made — redemption. — Deeds of trust in the nature of mortgages of lands may, in addition to being forecloseable by suit, be also foreclosed by trustee's sale at the option of the holder of the debt or obligation thereby secured and th…

443.415. Mortgage may be insured for certain buyers, amount, requirements. — Mortgage insurers may insure a mortgage in an amount not exceeding one hundred three percent of the fair market value of the authorized real estate security at the time that the loan is made if secured b…

443.420. Notice of redemption — how given, rights. — No party shall have the right of redeeming from any such sale as set forth in section 443.410 unless he shall have given the written notice specified in said section and shall within twenty days after such sale give security to…

443.430. Motion for approval of bond for redemption — hearing — receiver — additional bond. — A motion or application for the approval shall be filed with the bond in the office of the clerk of the circuit court and at least one day's notice in writing thereof and of the time whe…

443.440. Certificate of sale — upon failure to redeem, deed to be executed. — If the bond is given and approved the trustee at the purchaser's request shall execute, acknowledge and deliver to him a certificate of sale or purchase giving a reference to the deed of trust, fact of …

443.451. Mortgage or deed of trust securing payment of bonds issued by interstate gas pipeline company or public utility, filing in office of secretary of state — notice — lien — refiling, effect — satisfaction, release, or cancellation, duties of secretary of state — fee — not t…

443.453. Financial institutions to pay property tax, how. — Financial institutions, as defined in section 381.410, which are mortgage servicers, shall pay property tax obligations which they service from escrow accounts, as defined in Title 24, Part 3500, Section 17, Code of Fede…

443.454. Enforcement and servicing of real estate loans, federal and state law preemption. — The enforcement and servicing of real estate loans secured by mortgage or deed of trust or other security instrument shall be pursuant only to state and federal law and no local law or or…

443.701. Citation of law. — Sections 443.701 to 443.893 shall be known and may be cited as the "Missouri Secure and Fair Enforcement for Mortgage Licensing Act". ­­-------- (L. 2009 H.B. 382, A.L. 2010 H.B. 2201) Effective 7-07-10

443.702. Criminal background check, fingerprint submission. — 1. The division of finance may require that fingerprint submissions be made as part of an application seeking licensure to act as a residential mortgage loan broker or a mortgage loan originator. 2. If the division of …

443.703. Definitions. — 1. For the purposes of sections 443.701 to 443.893, the following terms mean: (1) "Advertisement", the attempt by publication, dissemination, or circulation to induce, directly or indirectly, any person to apply for a loan to be secured by residential real…

443.706. Licensure required, when — effective date — exemptions. — *1. No individual, unless exempted under subsection 3 of this section, shall engage in the business of a mortgage loan originator concerning any dwelling located in Missouri without first obtaining and maintaining…

443.707. Loan processors and underwriters, license required. — A loan processor or underwriter who is an independent contractor shall not engage in the activities of a loan processor or underwriter for a Missouri residential real estate loan unless such independent contractor loa…

443.709. Rulemaking authority — expedited review and licensing procedures permitted, when. — To implement an orderly and efficient licensing process for mortgage loan originators, the director may establish licensing rules and interim procedures for licensing and acceptance of ap…

443.711. Application for licensure, form — records and fees — modification of licensure requirements permitted, when — use of NMLSR as an agent, when. — 1. Applicants for a mortgage loan originator license shall apply in a form as prescribed by the director. Each such form shall …

443.713. Findings required for licensure. — The director shall not issue a mortgage loan originator license unless the director makes, at a minimum, the following findings: (1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction…

443.717. Prelicensing education requirements. — 1. Mortgage loan originators shall satisfy a prelicensing education requirement through approved education courses of at least twenty hours approved in accordance with subsection 2 of this section, which shall include at least: (1) …

*443.719. Written test required, test measures — minimum competency requirements. — 1. In order to meet the written test requirement under sections 443.701 to 443.893, an individual shall pass, in accordance with the standards established under this section, a qualified written t…

443.721. Renewal of licensure, minimum standards. — 1. Minimum standards for license renewal for mortgage loan originators shall include the following: (1) The mortgage loan originator continues to meet the minimum standards for license issuance under sections 443.701 to 443.893;…

443.723. Continuing education requirements. — 1. To meet the annual continuing education requirements referred to in sections 443.701 to 443.893, a licensed mortgage loan originator shall complete at least eight hours of education approved in accordance with subsection 2 of this …

443.725. Duties of director — rule requirements authorized. — In addition to any other duties imposed upon the director by law, the director shall require mortgage loan originators to be licensed and registered through the NMLSR. In order to carry out such requirement, the direct…

443.727. Challenge of information in NMLSR. — The director shall establish a process whereby mortgage loan originators may challenge information entered into the NMLSR by the director. ­­-------- (L. 2009 H.B. 382) Effective 7-08-09

443.729. Supervision and enforcement — civil penalty. — 1. In order to ensure the effective supervision and enforcement of sections 443.701 to 443.893, the director may, under chapter 536: (1) Deny, suspend, revoke, condition, or decline to renew a license for a violation of sect…

443.731. Surety bond requirements. — 1. (1) Each mortgage loan originator shall be covered by the surety bond for the Missouri licensed mortgage broker supervising the mortgage loan originator and for whom the mortgage loan originator acts as an employee or exclusive agent. (2) T…

443.733. Supervisory information sharing — confidentiality requirements. — In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing: (1) Except as otherwise provided in Public Law 110-289, Section 1512, the requirements un…

443.735. Investigations and examinations, authority of director. — In addition to any authority allowed under sections 443.701 to 443.893, the director shall have the authority to conduct investigations and examinations as follows: (1) For purposes of initial licensing, license r…

443.737. Violations. — It is a violation of sections 443.701 to 443.893 for a person or individual subject to sections 443.701 to 443.893 to: (1) Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person; (2)…

443.739. Reports of condition required. — Each residential mortgage loan broker subject to the requirements of sections 443.701 to 443.893 shall submit to the NMLSR reports of condition, which shall be in such form and shall contain such information as the NMLSR may require. ­­--…

443.741. Violations, director required to report. — The director is required to report violations of sections 443.701 to 443.893, as well as enforcement actions and other relevant information, to the NMLSR subject to the provisions contained in section 443.731. ­­-------- (L. 200…

443.743. Nonfederally insured credit unions, registration of employed loan originators required. — Nonfederally insured credit unions which employ loan originators, as defined in Public Law 110-289, Title V, the S.A.F.E. Act, shall register such employees with the NMLSR by furnis…

443.745. Unique identifier to be shown on applications, solicitations, or advertisements. — The unique identifier of any person originating a residential mortgage loan and in the case of a mortgage loan originator, the residential mortgage loan broker license number or correspond…

443.747. Severability clause — rulemaking authority. — If any provision of sections 443.701 to 443.893 or their application to any person or circumstance is held invalid, the remainder of sections 443.701 to 443.893 or the application of the provision to other persons or circumst…

443.805. License required to broker residential mortgage. — 1. No person shall engage in the business of brokering, funding, servicing or purchasing of residential mortgage loans without first obtaining a license as a residential mortgage loan broker from the director, pursuant t…

443.807. Director, power to request injunction, when. — The director may, through the attorney general, request the circuit court in the appropriate jurisdiction to issue an injunction to restrain any person from violating, or continuing to violate, any provision of sections 443.…

443.809. Examination, powers of director to inspect records of licensed persons. — The director shall have the authority, at any time and as often as reasonably necessary, to investigate or examine the books and records of any licensed person to assure compliance with sections 44…

443.810. Penalty for violations. — Any person who violates any provision of sections 443.805 to 443.812 is guilty of a class D felony. In addition, in any contested case proceeding, the director or board may assess a civil penalty of up to twenty-five thousand dollars per violati…

443.812. One license issued to each broker — record required of locations where any business is conducted — supervision requirements — waiver of licensure, when — manufactured or modular home loans. — 1. Only one license shall be issued to each person conducting the activities of…

443.816. Residential mortgage board created — members, appointment, qualification, terms, vacancies, compensation, duties. — There is hereby created in the division of finance a "Residential Mortgage Board" which shall have such powers and duties as are now or hereafter conferred…

443.817. Board members to file business transactions with ethics commission — rules authorized to avoid conflict of interest. — Each member of the residential mortgage board shall file annually, no later than February first, with the Missouri ethics commission a statement of the …

443.819. Brokerage business to be operated under actual names of persons or corporations, violation, penalties. — 1. No person engaged in a business regulated by sections 443.701 to 443.893 shall operate or engage in such business under a name other than the real names of the per…

443.821. License to be issued on completion of requirements — notice of denial of license to contain reasons — appeal procedure. — The director shall issue a residential mortgage loan broker license upon completion of the following: (1) The filing of an application; (2) The filin…

443.823. Licenses to be issued in duplicate, effective when. — All residential mortgage loan broker licenses shall be issued in duplicate with one copy being transmitted to the license applicant and the second retained by the director. Upon receipt of such license, a residential …

443.825. Application content, oath and form — fingerprinting, when. — 1. Application for a residential mortgage loan broker license shall be made as provided in sections 443.833 and 443.835. The application shall be in writing, made under oath, and on a form provided by the direc…

443.827. Applicant for license must agree to maintain certain requirements as to methods of conducting business. — Each application for a residential mortgage loan broker license shall be accompanied by an averment that the applicant: (1) Will maintain at least one full-service o…

443.830. License refused — grounds. — The director shall refuse to license or renew a residential mortgage loan broker license if: (1) The applicant is not in compliance with any provision of sections 443.701 to 443.893; (2) There is substantial continuity between the applicant a…

443.833. Renewal of license, date, procedure, fee — failure to renew, license becomes inactive, reactivation — expires, when. — 1. Residential mortgage loan broker licenses shall be renewed on the first anniversary of the date of issuance and every two years thereafter or as othe…

443.835. Broker ceasing activity and not desiring to be licensed, procedure — director to cancel license. — A residential mortgage loan broker ceasing an activity or activities regulated by sections 443.701 to 443.893 and desiring to no longer be licensed shall so inform the dire…

443.839. Application by broker to open additional full-service offices, fee — certificate to be issued and posted. — 1. A residential mortgage loan broker may apply for authority to open and maintain additional offices in Missouri by: (1) Giving the director prior notice of the r…

443.841. License to be displayed. — The appropriate residential mortgage loan broker license or certificate shall be conspicuously displayed in every Missouri office. The license or certificate shall not be transferable or assignable. ­­-------- (L. 1994 S.B. 718 § 13, A.L. 2001 …