Missouri - Revised Statutes, Chapter 443, Mortgages, Deeds of Trust and Mortgage Brokers

CHAPTER 443 Page 1 of 62
Missouri Revised Statutes

Chapter 443
Mortgages, Deeds of Trust and Mortgage Brokers
August 28, 2010
Security instrument defined.
443.005. "Security instrument", as that term is used in this chapter, shall mean any mortgage, deed of trust or
other real property security instrument securing the payment or satisfaction of any debt or other obligation.
(L. 1993 H.B. 105 & 480)
Mortgage, assumption of upon purchase not construed to extend mortgage to other lands,
when.
443.010. Where, by any deed which shall be hereafter executed, two or more lots or tracts of land or interests in
such shall be conveyed, and upon one or more of such tracts or lots there shall be any mortgage or deed of trust,
or lien or encumbrance not covering the other or others of such tracts, the payment of which shall be assumed in
said deed, or where such mortgage or deed of trust or encumbrance shall be so recited in said deed that the
payment of it might be claimed to constitute a part of the consideration of such deed, such mortgage or deed of
trust or other encumbrance shall not be held by reason of such assumption or recital to constitute a vendor's lien
upon, or to affect in any way, any property other than that specifically covered by such mortgage or deed of trust
or other encumbrance unless it be clearly and in express words provided and set forth in said deed that it is
intended by such assumption or recital to fasten such mortgage or deed of trust or other encumbrance as a
vendor's lien upon any of the property conveyed, other than that specifically and prior thereto covered by it.
(RSMo 1939 § 3448)
Prior revisions: 1929 § 3061; 1919 § 2220
Claim of such extension barred, when.
443.020. Where heretofore such a deed has been executed containing such assumption or recitals, which might be
claimed to fasten such mortgage or deed of trust or other encumbrance as a vendor's lien upon land other than that
specifically covered by such mortgage or deed of trust or other encumbrance but in which the intention to create
such vendor's lien is not clearly set forth, then such vendor's lien shall not be held to have been created, nor shall
it be enforced, unless the party claiming or who might claim same shall, within two years after the indebtedness
secured by such vendor's lien shall become due, file suit in the proper court against the owner of such land and
against other parties shown by the public records of the county to be interested in said land, to ascertain and
adjudge the existence of such vendor's lien and its priority as to other encumbrances or liens, and to foreclose
such vendor's lien.
(RSMo 1939 § 3449, A. 1949 S.B. 1125)
Prior revisions: 1929 § 3062; 1919 § 2221
http://www.moga.mo.gov/statutes/chapters/chap443.htm 4/20/2011
Prior acknowledgment of deed of trust deemed valid.
443.030. That in the absence of fraud, every acknowledgment of a deed of trust conveying any real estate in this
state, taken before the trustee in said deed named, at least one year prior to the date this section shall take effect,
shall be deemed valid and binding, and the fact that such acknowledgment was taken before said trustee shall not
in any manner affect the title to the real estate therein described, in the hands of a purchaser who in good faith has
purchased, or shall hereafter purchase, such real estate at a trustee's sale held in accordance with and under the
terms of said deed of trust.
(RSMo 1939 § 3409)
Prior revision: 1929 § 3022
Recording of instrument required--failure to record, effect on persons subsequently obtaining

interest or lien.
443.035. 1. Security instruments may be assigned by instrument in writing, acknowledged by the assignor in the
manner provided for the acknowledgment of other instruments affecting the title to real property, and may be
recorded in the office of the recorder of deeds in the county or counties in which the security instrument being
assigned was recorded.
2. Any person who acquires an interest in or a lien upon real property for value and without notice of an
unrecorded assignment of a security instrument recorded on or after January 1, 1986, and who has relied upon a
release of such security instrument executed by the party last shown of record to be the owner thereof, shall
acquire the interest in or lien upon such real property free from the lien of the security instrument to the same
extent as if the release upon which reliance was placed had been executed by the lawful holder of the debt or
other obligation secured by such security instrument. 3. No recorder of deeds in this state shall accept for record
any security instrument of assignment thereof in which the mortgagee, cestui que trust or assignee is named as
bearer or the actual identity of the mortgagee, cestui que trust or assignee is otherwise not ascertainable from the
face of the security instrument or assignment. All security instruments and assignments thereof presented for
record shall contain the mailing address of the mortgagee, cestui que trust or assignee except, that the omission
thereof shall not affect the validity of any security instrument or assignment, or the constructive notice imparted
by the record thereof.
(L. 1985 H.B. 210, A.L. 1993 H.B. 105 & 480)
Future advances may be secured, how--definitions--requirements--limitations--priorities--

termination procedure, exceptions.
443.055. 1. As used in this section, the following terms mean:
(1) "Borrower", a person who is a mortgagor, deed of trust grantor, or debtor of any lender or a successor in
interest to any of the persons described in this subdivision;
(2) "Business or agricultural loan transaction", a loan or extension of credit or indebtedness of a borrower to a
lender, arising under a note, guarantee or other evidence of indebtedness, where the proceeds or benefits thereof
are used primarily for agricultural purposes, or for purposes other than personal, family or household purposes;
(3) "Construction loan", a loan:
(a) Which is secured by a security instrument; and
(b) The proceeds of which, by agreement of the borrower and lender, are intended to be used for the construction,
alteration, modification or addition of improvements to real property; and
(c) The proceeds of which are disbursed in whole or in part by means of future advances or future obligations.
The term "construction loan" includes loan proceeds used for expenses reasonably related to the construction,
alteration, modification or addition of improvements to real property including governmental fees, taxes, interest,
attorneys' and accountants' fees, architects' fees, engineers' fees, utility charges, hook-up or tap-on fees, title
insurance, surveys, rents, loan origination or servicing fees, and similar expenses;
(4) "Face amount", subject to the provisions of this section, the stated amount of the obligations which may be
secured at any given time by the security instrument;
(5) "Future advance", any advance of funds, disbursement of loan proceeds or other exchange of value or
consideration from a lender to, or on behalf of, a borrower that occurs after the date of the security instrument
securing such future advance, regardless of whether such advance is made under a note, contract, guarantee or
other evidence of indebtedness that was executed prior to or contemporaneously with such security instrument or
made under a future obligation;
(6) "Future obligation", an obligation or debt of a borrower to a lender arising under a note, contract, guarantee or
other evidence of indebtedness that was executed or otherwise became effective after the date of the instrument
securing such future obligation, including, without limitation, any note or agreement that renews, extends, or
otherwise modifies an obligation of a borrower to a lender that is secured by a security instrument under this
section;
(7) "Lender", any mortgagee, deed of trust beneficiary, or creditor holding a security instrument;
(8) "Owner", the owner of the interest in the real property encumbered by the security instrument, not including
the trustee, mortgagee, or beneficiary under a deed of trust;
(9) "Person", a natural person, firm, partnership, association, or corporation;
(10) "Security instrument", a mortgage, deed of trust, or other real property security instrument securing the
repayment of any obligation, containing, within the body of the instrument, the provisions described in subsection
2 of this section and containing a provision expressly stating that the instrument is to be governed by this section.
2. Security instruments may secure future advances or other future obligations of a borrower to a lender, whether
the advances or obligations are optional or obligatory with the lender. The future advances or future obligations
may be evidenced by one or more notes, guarantees or other documents evidencing indebtedness of a borrower to
lender, which documents shall not be required to be executed or delivered prior to the date of the security
instrument securing them. Neither the existence nor priority of a security instrument otherwise complying with
the provisions of this section shall be adversely affected if at any time on or after the date of such security
instrument there are no obligations then secured by the security instrument or the obligations secured by the
security instrument are reduced to zero. The fact that a security instrument secures future advances or future
obligations shall be clearly stated within the body of the security instrument, or within the body of any
amendment if such amendment is made to cause the original instrument to become a security instrument and
secure future advances or future obligations as provided in this section, and the security instrument shall state the
face amount. The total amount of obligations that may be secured by such a security instrument may decrease or
increase from time to time, but except as to advances made pursuant to subsection 3 of this section, the total
principal amount of the obligations secured at any given time may not exceed the face amount stated in the
security instrument.
3. (1) Future advances made by a lender or future obligations incurred by a borrower for the reasonable protection
of the lender's security interest are secured by the security instrument and shall have the priority specified in
subsection 5 of this section even though the security instrument does not provide for such future advances or such
future obligations, or even though such future advances or such future obligations cause the total indebtedness to
exceed the face amount stated in the security instrument, or even though a notice of termination has been issued
pursuant to subsection 6 of this section. Such advances or obligations may include, but shall not be limited to, real
property taxes, hazard insurance premiums, assessments or maintenance charges imposed under a condominium
declaration or restrictive covenant, subdivision assessments, reasonable repairs and maintenance, amounts due
under prior mortgages or deeds of trust, leases, or other encumbrances, and reasonable costs and attorneys' fees
incurred in enforcing the security instrument or the indebtedness which it secures.
(2) Future advances made or future obligations incurred under a construction loan are secured by the security
instrument and shall have the priority specified by subsection 5 of this section even though the future advances or
future obligations cause the total indebtedness to exceed the face amount stated in the security instrument, or even
though a notice of termination has been issued pursuant to subsection 6 of this section if the lender complies with
paragraph (d) of subdivision (2) of subsection 9 of this section.
4. The future advances and future obligations which may be secured by a security instrument shall be limited to
those obligations which are contractual in nature and those obligations referred to in subsection 3 of this section.
5. As to any third party who may acquire or claim any rights in or a lien upon the encumbered real property, the
priority of the lien of a security instrument securing future advances or future obligations shall date from the time
the security instrument is recorded, whether or not any third party has actual notice of any such advances or
obligations and whether or not such advances or obligations are optional or obligatory with the lender. If an
amendment to a mortgage, deed of trust, or other real property security instrument securing the repayment of any
obligation has been recorded which causes such instrument to become a security instrument or if an amendment
to a security instrument has been recorded which increases the total amount of the obligations which may be
secured thereby, the priority of advances made or additional obligations incurred thereafter which exceed the
original face amount shall date from the date the amendment was recorded, as to any third parties who may
acquire any rights in or lien upon the encumbered real property, whether or not any third party has actual notice
thereof and whether or not the advances or additional obligations are optional or obligatory with the lender.
6. At any time subsequent to the execution of a security instrument, the owner at that time may give a notice by
sending it certified mail, return receipt requested, or by personal delivery (the affidavit of the party personally
delivering the notice to be prima facie proof of such delivery), to the lender by sending or delivering it to the
lender if such person is an individual, or otherwise by sending or delivering it to the person specified in the
security instrument for such purpose, or by sending or delivering to any person on behalf of the lender, upon
whom personal service of process may be served as provided for in section 506.150, other than the secretary of
state, and the notice shall state therein that the party sending the notice is the present owner of the interest in the
real property encumbered by the security instrument and that the prior owner elects to terminate the operation of
the instrument as security for future advances or future obligations made or incurred after the date the lender
receives the notice. The lender shall be entitled to rely on a statement received from a party purporting to be the
then owner as a statement received from the proper party unless the statement was relied upon in bad faith.
Within fifteen days of the receipt of such a notice, the lender shall at its own cost record where the original
security instrument was recorded, a statement referring to the original security instrument, legally describing the
real property therein, setting forth the fact of the receipt of the notice, stating the date of the receipt of such
notice, and stating the total principal amount as of the date it received the notice of all the then outstanding debts
and obligations secured by the security instrument. Except as otherwise provided in this section:
(1) No advances made by the lender to the borrower or other obligations incurred by the borrower to the lender,
after the date the lender receives the notice contemplated in this subsection, shall be secured by the security
instrument; and
(2) The total debts so secured after receipt of such notice shall be limited in principal amount to the amount stated
by the lender in its recorded notice, by which statement the lender shall be irrevocably bound; and
(3) Should the lender fail to file the statement specified in this subsection within the time period specified, the
then owner may file a similar statement, and the lender shall be irrevocably bound by that party's statement of the
total principal amount of the outstanding debts and obligations secured by the security instrument, so long as the
statement is made in good faith. Except as to the effect of the statement described in subdivision (3) of this
subsection, with regard to the amount specified in the statement, the lender's receipt of such a notice from the
prior owner shall not affect the amount or priority position of advances previously made, or obligations
previously incurred, or interest thereafter accruing on such obligations or advances. Any limitation upon the
operation of a security instrument to secure future advances and future obligations imposed as a result of the
notice given in accordance with this subsection shall not affect the security or priority of subsequent advances
made or subsequent obligations incurred, as described in subdivision (1) or (3) of subsection 3 of this section, or
subdivision (2) of subsection 3 of this section if lender complies with paragraph (d) of subdivision (2) of
subsection 9 of this section, or the right of the lender to seek recourse from the borrower for indebtedness in
excess of the amount secured by the security instrument.
7. A security instrument providing for the securing of future advances or future obligations, as provided in this
section, may secure a guarantee of other obligations. The priority of the lien of the security instrument securing
the guarantee, up to the face amount stated in the security instrument, shall be as provided in this section as if the
obligations guaranteed were future obligations.
8. At any time subsequent to the execution of a security instrument securing a guarantee, the owner at that time
may give a notice, by sending it certified mail, return receipt requested, or by personal delivery (the affidavit of
the party personally delivering the notice to be prima facie proof of such delivery) to* the person guaranteed by
sending or delivering it to such person if such person is an individual, or otherwise by sending or delivering it to
the person specified in the security instrument for such purpose, or by sending or delivering to any person on
behalf of the person guaranteed, upon whom personal service of process may be served as provided in section
506.150, other than the secretary of state, and the notice shall state therein that the party sending the notice is the
present owner of the interest in the real property encumbered by the security instrument and that the owner at that
time elects to terminate the operation of the security instrument as security for the guarantee as to debts and
obligations made or incurred after the date the person guaranteed receives the notice. The person guaranteed shall
be entitled to rely upon a statement received from a party purporting to be the then owner as a statement received
from the proper party, unless the statement was relied upon in bad faith. Within fifteen days of his receipt of such
a notice, the person guaranteed shall, at his own cost, record where the original security instrument was recorded,
a statement referring to the original security instrument, legally describing the real property therein, setting forth
the fact of its receipt of the notice, stating the date of its receipt of such notice, and stating the total principal
amount as of the date it received the notice of all the then outstanding debts and obligations guaranteed by the
guarantee secured by the security instrument. Except as otherwise provided in this section, no guaranteed debts or
guaranteed obligations incurred after the date the person guaranteed receives the notice contemplated in this
subsection shall be secured by the security instrument. Except as otherwise provided in this section, the total
guaranteed debts and guaranteed obligations so secured shall be limited in principal amount to the amount stated
by the person guaranteed in his recorded notice, by which statement the person guaranteed will be irrevocably
bound. Should the person guaranteed fail to record the statement specified in this subsection within the time
period specified, the owner at that time may record a similar statement, and the person guaranteed shall be
irrevocably bound by that party's statement of the total principal amount of the then outstanding guaranteed debts
and guaranteed obligations secured by the security instrument, so long as the statement is made in good faith.
Except as to the effect of the statement described in this subsection which may be recorded by the owner at that
time with regard to the amount specified therein, the receipt of such notice from the guarantor by the person
guaranteed shall not affect the amount or priority position of the security instrument for those debts or obligations
previously incurred, or interest thereafter accruing on such obligations or debts which are guaranteed by the
guarantee secured by the security instrument. Any limitation upon the operation of a security instrument to secure
the guarantee imposed as a result of the notice given in accordance with this subsection shall not affect the
security or priority of subsequent advances made or obligations thereafter incurred by the person guaranteed
pursuant to subdivision (1) or (3) of subsection 3 of this section or subdivision (2) of subsection 3 of this section
if the lender complies with paragraph (d) of subdivision (2) of subsection 9 of this section, the payment of which
is guaranteed by the guarantee secured by the security instrument, or the right of the lender to seek recourse from
the guarantor for guaranteed indebtedness in excess of the amount secured by the security instrument.
9. (1) Notwithstanding the provisions of subsections 6 and 8 of this section, if the conditions of subdivision (2) of
this subsection are fulfilled, the notice of termination shall be ineffective:
(a) To the extent of the liability of the lender obligated under an irrevocable letter of credit and to the extent the
security instrument secures the repayment of obligations to the lender arising therefrom; or
(b) To the extent of the liability of the guarantor to a person guaranteed and to the extent the guarantee is secured
by the security instrument, and was given in a business or agricultural loan transaction; or
(c) To the extent that a security instrument secures the liability of a third party in a business or agricultural loan
transaction; or
(d) As to those future advances made or future obligations incurred and described in subdivision (2) of subsection
3 of this section after receipt by the lender or person guaranteed of a notice of termination and relating to the
construction project existing on the date of receipt of the notice.
(2) For the notice of termination to be ineffective as set forth in subdivision (1) of this subsection, the statement
to be recorded by the lender must contain, in addition to the other information required by subsections 6 and 8 of
this section, the following:
(a) Notice that the security instrument secures the repayment of obligations or advances arising from liability
under an irrevocable letter of credit and the total current amount of such liability, if it secures such a liability; or
(b) Notice that the security instrument secures repayment of obligations or advances arising from a guarantee
given in a business or agricultural loan transaction, if it secures such a liability; or
(c) Notice that the security instrument secures the liability of a third party in a business or agricultural loan
transaction, if it secures such a liability; or
(d) Notice that the security instrument secures a construction loan and the total amount of the loan determined as
if the principal amount committed to be advanced, whether or not the lender is obligated to advance all such
amounts, pursuant to a construction loan was fully funded as of the date of the receipt of the notice, if it secures
such a liability.
(3) Notwithstanding the provisions of subsections 6 and 8 of this section, no notice of termination shall be
effective as to those future advances made or future obligations incurred and described in subdivision (1) or (3) of
subsection 3 of this section.
(4) Once given, the additional information required by subdivision (2) of this subsection in the statement to be
recorded shall be for informational purposes only and shall not constitute a limitation on the amount of future
advances or future obligations secured, or to be secured in the future, under the security instrument.
10. Any mortgage or deed of trust which does not fall within the definition of a security instrument as set forth in
subsection 1 of this section shall be governed as otherwise provided by the laws of this state without reference to
this section.
11. Nothing contained in this section shall invalidate, or adversely affect the priority or validity of, any security
instrument duly recorded prior to September 1, 1992. To the extent that such instrument was in compliance with
the provisions of this section in effect prior to September 1, 1992, it shall continue to be governed by those
provisions as if such provisions had not been repealed unless an amendment is made to such security instrument
clearly indicating that the security instrument is to be governed by the provisions of this section in existence after
September 1, 1992, whereupon the security instrument shall be governed hereby from and after the date the
amendment is recorded. The fact that such security instrument is amended so as to be governed by this section
shall not affect the rights of third parties in the encumbered real property existing on the date of the recordation of
the amendment.
(L. 1981 S.B. 40, A.L. 1982 H.B. 1781, A.L. 1984 H.B. 1409, A.L. 1991 S.B. 31, A.L. 1992 S.B. 688)
*Word "to" does not appear in original rolls.
Acknowledgment of satisfaction and release, how made.
443.060. 1. If any mortgagee, cestui que trust or assignee, or personal representative of the mortgagee, cestui que
trust or assignee, receive full satisfaction of any security instrument, he shall, at the request and cost of the person
making the same, deliver to such person a sufficient deed of release of the security instrument; but it shall not in
any case be necessary for the trustee to join in such deed of release. In the case of security instruments recorded
prior to January 1, 1986, if a full deed of release is offered for record, and except as otherwise provided in
subsection 3 of this section, the note or notes secured shall be produced and canceled in the presence of the
recorder, who shall enter that fact on the deed of release prior to its recordation and attest the same with his
official signature; and except as otherwise provided in subsection 3 of this section, no full deed of release of such
a security instrument shall be admitted to record unless the note or notes are so produced and canceled, and that
fact entered on the deed of release and attested as above provided.
2. If such note or notes are required by subsection 1 of this section to be presented for cancellation and are not
presented for the alleged reason that they have been lost or destroyed, the recorder, before allowing any deed of
release to be placed on the file or record, shall require the mortgagee or cestui que trust named in the security
instrument desired to be released or his legal representative, to make oath, in writing, stating that the note or other
evidences of debt named in the security instrument sought to be released have been paid and delivered to the
maker thereof or his representative. The recorder shall also require the maker of such note or notes, or his legal
representative, to make affidavit, in writing, that the note or notes in question have been paid, and cannot be
produced because lost or destroyed, and that they are not then in the possession of any person having any lawful
claim to the same. If such note or notes shall not have been delivered to the maker or his legal representative, the
affidavit so required of the mortgagee or cestui que trust or his legal representative shall recite that the note or
other evidence of the debt named in the security instrument has been paid and cannot be produced because lost or
destroyed, and that it is* not then in the possession of any person having any lawful claim to the same. The term
"legal representatives" as used in this section shall include assigns. The affidavit of the maker of such note or
notes or his legal representative shall recite that such note or notes have been paid. The affidavits so required
shall be recorded in the same manner as deeds, in a permanent record. Nothing in this chapter shall be so
construed as to require that any interest coupon notes shall be produced and canceled in the presence of the
recorder, but that all such interest coupon notes shall conclusively be taken and be deemed to have been paid in
full, when the principal note described in the security instrument shall have been produced and canceled in the
presence of the recorder as provided for in this chapter.
3. In case any mortgagee, cestui que trust or assignee, or personal representative of the mortgagee, cestui que trust
or assignee shall desire to release the property described in any security instrument recorded prior to January 1,
1986, without receiving full satisfaction of the debt, note or obligation thereby secured, he shall be permitted to
do so by the recorder on presentation to the recorder of the notes or other obligations evidencing the principal of
the debt secured thereby, or accounting for them by affidavits or otherwise as now or hereafter provided by law in
the case of full release, and the recorder shall note the fact of the filing for record of such release on such notes or
obligations in substantially the following form:
"See release dated .................................................................. ............................... Recorder" and of the

presentation of such notes or other obligations, or accounting therefor, on the deed of release prior to its
recordation, but shall not cancel such notes or other obligations. Nothing in this section shall be construed as
making it necessary for any trustee named in the security instrument to join in such deed of release.
(RSMo 1939 § 3465, A.L. 1975 H.B. 226, A.L. 1985 H.B. 210, A.L. 1991 S.B. 364)
Prior revisions: 1929 § 3078; 1919 § 2237; 1909 § 2844
*Words "they are" appear in original rolls.
Affidavit required with deed of release, when--penalty for failure.
443.070. Every person who shall execute a deed of release of a security instrument recorded prior to January 1,
1986, shall at the same time of making and delivering such release deed, make and deliver the affidavit required
by section 443.060 unless such deed of release states that the indebtedness remains unpaid in whole or in part;
and a neglect or refusal to do so shall subject the party or person thus neglecting or refusing to the same penalties
as provided by law in case of refusing to satisfy security instruments when paid. The affidavit named in this
section may be endorsed upon the deed of release and recorded with it.
(RSMo 1939 § 3466, A.L. 1975 H.B. 226, A.L. 1985 H.B. 210)
Prior revisions: 1929 § 3079; 1919 § 2238; 1909 § 2845
Effective 1-1-86
Satisfaction of mortgage, deed of trust or security instrument of railroad or utility, when

entered.
443.080. The trustee, or trustees, in any security instrument given or which may hereafter be given by a railroad
company or other public utility company which is subject to the regulation of the motor carrier and railroad safety
division of the department of economic development, or successors, upon its property or any part thereof, may
enter satisfaction of said security instrument upon the records where the same has been recorded. Where such
security instrument was recorded prior to January 1, 1986, without producing the bonds, notes or coupons secured
by said security instrument, satisfaction shall not be entered unless the trustee, or if said trustee is a corporation,
its president or vice president, and the president or vice president of the railroad company or other public utility
company, or of its successors or assigns, shall make and file with the recorder affidavits stating that all of the
bonds, notes or coupons secured by said security instrument have been paid or that sufficient funds have been
deposited with a bank or trust company to pay all the bonds, notes or coupons still outstanding and unpaid; and
that said money is deposited for the express purpose of paying said bonds, notes or coupons when the same shall
be presented at said bank or trust company for payment.
(RSMo 1939 § 3467, A.L. 1947 V. I p. 229, A.L. 1985 H.B. 210)
Prior revisions: 1929 § 3080; 1919 § 2239; 1909 § 2846
Effective 1-1-86
CROSS REFERENCE:
Division of motor carrier and railroad safety abolished, duties and functions transferred to highways and transportation commission and department of
transportation, 226.008
Part of property may be released, how.
443.090. In case any person desires to release any part of the property described in any security instrument
recorded prior to January 1, 1986, by deed of release, he shall be permitted to do so by the recorder on
presentation to the recorder of the notes or other obligations evidencing the principal of the debt secured thereby,
or accounting for them by affidavits or otherwise as now or hereafter provided by law in the case of full release,
and the recorder shall note the fact of the filing for record of such partial release on such notes or obligations in
substantially the following form:
"See partial release dated .......................................................
....................... Recorder" and of the presentation of such notes or other obligations, or accounting therefor, on the
deed of release prior to its recordation, but shall not cancel such notes or other obligations. Nothing in this section
shall be construed as making it necessary for any trustee named in the security instrument to join in such partial
deed of release.
(RSMo 1939 § 3468, A.L. 1985 H.B. 210, A.L. 1991 S.B. 364)
Prior revisions: 1929 § 3081; 1919 § 2240; 1909 § 2847
Payment of one or more notes, how canceled--memorandum on record--affidavit required,

content, to be presented to recorder.
443.100. In cases where a number of notes are named in any security instrument which was recorded prior to
January 1, 1986, on payment of any one or more of such notes, the maker thereof may make affidavit as to such
payment, which such affidavit shall refer to the security instrument by book and page of record and contain a
description of the land encumbered thereby and shall present the same along with the note or notes to the
recorder, and the recorder shall cancel the notes and make a memorandum of such presentation and cancellation
on the margin of the affidavit, which shall then be filed for record.
(RSMo 1939 § 3469, A.L. 1985 H.B. 210, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3082; 1919 § 2241; 1909 § 2848
Partial release of certain mortgages, deeds of trust or security instruments made how--
conditions--requirements.
443.110. Whenever any security instrument heretofore or hereafter executed, providing for the issue of a series of
notes or bonds aggregating one hundred thousand dollars or more not including interest or interest notes or
coupons secured in whole or in part by property located in this state, by its terms confers authority upon the
trustee or trustees therein named, or either of them, to release the property or any part thereof encumbered by any
such security instrument from the lien thereof, such release may be so made and it shall be the duty of the
recorder of deeds of the county in which the property so released from such security instrument shall be situated
to accept and record in the proper records any deed of release executed and duly acknowledged by such trustee,
pursuant to the authority conferred by such security instrument, releasing the whole or any part of such
mortgaged property; provided, however, that in the case of a security instrument which shall not have been
qualified under the Federal Trust Indenture Act of 1939, as from time to time amended, no such release shall be
made unless such security instrument shall contain a provision requiring that the amount due under the security
instrument or the amount of money or other consideration received from the sale of the property described in such
release or such portion thereof as may be stipulated in such security instrument shall be deposited with some
banking firm or banking corporation or trust company named in such security instrument for the benefit of the
holders of such notes or bonds, or a provision requiring that there shall have been reinvested in property subject
to the lien of such security instrument an amount of money equal to the value of the property so released;
provided, however, if there shall have been such reinvestments as provided by the terms of such security
instrument, which shall not have been qualified under the Federal Trust Indenture Act of 1939, as from time to
time amended, there shall be filed with the recorder of deeds, together with the aforesaid release, a certificate that
at a meeting of the bondholders or noteholders, held at the place named in the security instrument for the payment
of the principal of such bonds or notes, after publication of notice of such meeting for two weeks in some
newspaper regularly published at such place, less than a majority in interest of the bonds or notes represented at
such meeting voted against such release or a certificate that none of the bonds or notes were represented at such
meeting. Such certificate shall be made by the person who shall at such meeting be elected chairman thereof, and
upon the filing thereof the recorder of deeds shall record said release as aforesaid; and provided further, that if the
mortgaged property be subject to several security instruments, and upon the sale of only a part of the property
covered by such security instruments, the amount of money or other consideration received from the sale of the
property described in such release shall have been deposited with the banking firm or banking corporation or trust
company named in the first security instrument for the benefit of the holders of the notes or bonds thereby
secured in the order of their priority, and the excess if any, for the benefit of the holders of notes or bonds secured
by the subsequent security instruments in the order of their priority, and such depositary shall so certify, then the
property so sold may be released by the trustees in each of the security instruments, which confer authority upon
the trustee or trustees therein named to release such property from the lien of such security instruments.
(RSMo 1939 § 3470, A.L. 1947 V. I p. 229, A.L. 1985 H.B. 210)
Prior revisions: 1929 § 3083; 1919 § 2242
Effective 1-1-86
Penalty for making false affidavit.
443.120. Any person who shall swear falsely in making any of the affidavits provided for in sections 443.060,
443.070, 443.090 and 443.100 shall be deemed to be guilty of perjury, and on conviction, shall be punished as
may be provided by law for such offense.
(RSMo 1939 § 3471)
Prior revisions: 1929 § 3084; 1919 § 2243; 1909 § 2849
Liability for failing to satisfy--demand by certified mail required.
443.130. 1. If the secured party, receiving satisfaction for the debt secured pursuant to this chapter, does not,
within forty-five days after request and tender of costs, submit for recording a sufficient deed of release, such
secured party shall be liable to the mortgagor for the lesser of an amount of three hundred dollars a day for each
day, after the forty-fifth day, that the secured party fails to submit for recording a sufficient deed of release or ten
percent of the amount of the security instrument, plus court costs and attorney fees to be recovered in any court of
competent jurisdiction. In the event a document submitted for recording by a secured party is rejected for
recording for any reason, such secured party shall have sixty days following receipt of notice that the document
has been rejected in which to submit a recordable and sufficient deed of release.
2. To qualify under this section, the mortgagor or his or her agent shall provide the request in the form of a
demand letter to the secured party by certified mail, return receipt requested or in another form that provides
evidence of the date of receipt to the mortgagor. The letter shall include good and sufficient evidence that the debt
secured by the deed of trust was satisfied with good funds, and the expense of filing and recording the release was
advanced.
3. In any action against such person who fails to release the lien as provided in subsections 1 and 2 of this section,
the plaintiff, or his or her attorney, shall prove at trial that the plaintiff notified the holder of the note by certified
mail, return receipt requested, or as otherwise permitted by subsection 2 of this section.
(RSMo 1939 § 3472, A.L. 1994 H.B. 1312, A.L. 1996 H.B. 1432, A.L. 2004 H.B. 959)
Prior revisions: 1929 § 3085; 1919 § 2244; 1909 § 2850
Attorney in fact may enter satisfaction.
443.140. Any attorney in fact, to whom the money due on any security instrument is paid, shall have power to
execute a release, as specified in section 443.060. Such deed of release, duly acknowledged and recorded, shall
have the effect to release the security instrument, and bar all actions brought thereon, and revest in the mortgagor,
or person who executed the security instrument, or his legal representatives, all title to the property contained in
such security instrument.
(RSMo 1939 § 3473, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3086; 1919 § 2245; 1909 § 2851
Acknowledgment and satisfaction--how made by a corporation.
443.150. Hereafter any president, vice president, secretary, treasurer or cashier of any corporation may, in the
name and on behalf of such corporation, execute releases of any security instrument by release deed, with the
same force and effect and in like manner as if executed by the president of such corporation.
(RSMo 1939 § 3474, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3087; 1919 § 2246
Personal representative may satisfy and deliver deed or release.
443.160. The personal representative of the holder or owner of any indebtedness secured by any security
instrument, shall, if such indebtedness had been paid to the decedent in such decedent's lifetime, upon request of
the owner or owners of the property conveyed by such security instrument, deliver to such person a sufficient
deed of release of such security instrument.
(RSMo 1939 § 3476, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3089; 1919 § 2248; 1909 § 2853
Penalty for failing to acknowledge satisfaction and deliver deed of release.
443.170. If such personal representative, upon satisfactory proof produced to the personal representative of the
payment of such indebtedness to the decedent, does not, within thirty days after request and tender of expenses,
deliver to the person owning the property a sufficient deed of release, the personal representative shall personally
forfeit to the party aggrieved ten percent of the amount of the security instrument, absolutely, and any other
damages such aggrieved party may be able to prove such party has sustained, to be recovered in any court of
competent jurisdiction.
(RSMo 1939 § 3477, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3090; 1919 § 2249; 1909 § 2854
Sections 443.160 and 443.170 construed.
443.180. Nothing contained in sections 443.160 and 443.170 shall be so construed as to make any executor or
administrator liable to his decedent's estate for any indebtedness by mortgage or deed of trust, released by him in
accordance with this chapter.
(RSMo 1939 § 3478)
Prior revisions: 1929 § 3091; 1919 § 2250; 1909 § 2855
Releases of mortgages or deeds of trust defective--deemed valid, when.
443.185. Any and all releases of mortgages and deeds of trust on lands in this state, securing the payment of any
debt or obligation, which have been recorded in the office of the recorder of deeds in the county in which such
land is located for ten years or more, and which purport to release any such mortgage or deed of trust and the debt
or obligation secured thereby, and which purport to have been executed by the mortgagee or cestui que trust of
such mortgage or deed of trust, or by his agent or attorney, or by any assignee, or his agent or attorney, or by the
executor or administrator of any deceased mortgagee or cestui que trust, or of any deceased assignee, or by any
person acting for a corporation which is either the mortgagee or the cestui que trust, or the assignee, of said
mortgage or deed of trust, shall be deemed to be valid, and the lien of such mortgage or deed of trust shall be
deemed to be canceled and discharged, notwithstanding any defect in the execution, acknowledgment, certificate
of acknowledgment, recording or certificate of recording of the same; except that this section shall not apply to
any mortgage or deed of trust unless the debt or obligation secured thereby has been due and payable for at least
ten years. Any person desiring to assert any right or claim which would be barred by this section may do so by
bringing an appropriate action to establish such right or claim, at any time within two years after the passage of
this section, but not thereafter.
(L. 1951 p. 746)
Petition to foreclose, where filed.
443.190. All mortgagees of real estate or persons holding security interests in personal estate, including leasehold
interests, when the debt or damages secured amount to fifty dollars or more, may file a petition in the office of the
circuit court against the mortgagor or the debtor and the actual tenants or occupiers of the real estate, or persons
in possession of personal property, setting forth the substance of the mortgage deed or security agreement, and
praying that judgment may be rendered for the debt or damages, and that the equity of redemption may be
foreclosed, and the mortgaged property or collateral sold to satisfy the amount due.
(RSMo 1939 § 3447, A.L. 1965 p. 114)
Prior revisions: 1929 § 3060; 1919 § 2219; 1909 § 2828
CROSS REFERENCE:
Right to foreclose barred when note barred, 516.150
Petition, where filed.
443.200. If any part of the property be real estate, the petition may be filed in any county where any part of the
mortgaged premises is situated; if it be exclusively personal estate, it may be filed and proceeded with as in other
civil actions.
(RSMo 1939 § 3452)
Prior revisions: 1929 § 3065; 1919 § 2224; 1909 § 2831
Proceedings to be as in civil actions.
443.210. The issue, service and return of summons and executions, and all proceedings under sections 443.010 to
443.440, shall be subject to and governed by the law regulating proceedings in civil suits, except as otherwise
herein provided.
(RSMo 1939 § 3455)
Prior revisions: 1929 § 3068; 1919 § 2227; 1909 § 2834
Who may be made parties.
443.220. Any person claiming an interest in the mortgaged property or collateral may, on motion, be made
defendant to the proceedings, and may answer in avoidance or bar of the deed, security agreement, or debt or
damages and issue shall be made and tried as in other civil suits.
(RSMo 1939 § 3456, A.L. 1965 p. 114)
Prior revisions: 1929 § 3069; 1919 § 2228; 1909 § 2835
Judgment on constructive notice.
443.230. When the mortgagor or debtor is not summoned, but notified by publication, and has not appeared, the
judgment, if for the plaintiff, shall be that he recover the debt and damages, or damages, found to be due, and
costs, to be levied of the mortgaged property or collateral, describing it as in the mortgage or security agreement.
(RSMo 1939 § 3457, A.L. 1965 p. 114)
Prior revisions: 1929 § 3070; 1919 § 2229; 1909 § 2836
Judgment on personal service.
443.240. When the mortgagor or debtor has been duly summoned, or appears to the action, the judgment, if for
the plaintiff, shall be as in section 443.230 specified, with the addition that if the mortgaged property or collateral
is not sufficient to satisfy the debt and damages, or damages and costs, then the residue is to be levied of other
goods, chattels, lands and tenements of the mortgagor or debtor.
(RSMo 1939 § 3458, A.L. 1965 p. 114)
Prior revisions: 1929 § 3071; 1919 § 2230; 1909 § 2837
Proceedings where mortgagee, secured party, mortgagor or debtor dies.
443.250. In case of the death of the mortgagee or the secured party or his assignee, or of the mortgagor or debtor,
whether before or after action brought, the personal representative of the deceased party shall be made plaintiff or
defendant, as the case may require.
(RSMo 1939 § 3453, A.L. 1965 p. 114)
Prior revisions: 1929 § 3066; 1919 § 2225; 1909 § 2832
Judgment when personal representative is party defendant.
443.260. When the personal representative of the mortgagor or debtor has been duly summoned, or appears to the
action, the judgment, if for the plaintiff, shall be as before directed; and if, in such case, the mortgaged property
or collateral be insufficient to satisfy the debt and damages, or damages and costs, the judgment, as to the residue,
shall have the effect of a judgment against an executor or administrator, as such.
(RSMo 1939 § 3454, A.L. 1965 p. 114)
Prior revisions: 1929 § 3067; 1919 § 2226; 1909 § 2833
Execution to be a special fieri facias.
443.270. The execution to be issued shall be a special fieri facias, in accordance with the judgment, and shall be
executed and returned as executions in ordinary civil suits.
(RSMo 1939 § 3459)
Prior revisions: 1929 § 3072; 1919 § 2231; 1909 § 2838
Title which purchaser acquires.
443.280. A purchaser under a sale by virtue of an execution on a judgment rendered in pursuance of the
provisions of sections 443.010 to 443.440 shall take a title as against the parties to the suit, but he shall not be
permitted to set it up against the subsisting equities of those who are not parties thereto.
(RSMo 1939 § 3460)
Prior revisions: 1929 § 3073; 1919 § 2232; 1909 § 2839
Mortgages and security agreements with power of sale.
443.290. All mortgages of real property or security agreements providing for a security interest in personal
property, or both, with powers of sale in the mortgagee or secured party, and all sales made by such mortgagee,
secured party or his personal representatives, in pursuance of the provisions of the mortgages or security
agreements, shall be valid and binding by the laws of this state upon the mortgagors and debtors, and all persons
claiming under them, and shall forever foreclose all right and equity of redemption of the property so sold.
Nothing herein shall be construed to affect in any way the rights of a tenant to the growing and unharvested crops
on lands foreclosed as aforesaid, to the extent of the interest of the tenant under the terms of contract or lease
between the tenant and the mortgagor or his personal representatives.
(RSMo 1939 § 3462, A.L. 1965 p. 114)
Prior revisions: 1929 § 3075; 1919 § 2234; 1909 § 2841
Death of debtor, foreclosure stayed.
443.300. If any person shall die owning real estate on which there is an outstanding deed of trust or mortgage of
real estate, or having subjected personal property to a security interest with power of sale, shall die, no sale shall
take place under the deed of trust or mortgage conveying real estate within six months after the death of such
person, and no sale shall take place of personal property so subjected to a security interest within four months
after the death of the person.
(RSMo 1939 § 140, A.L. 1965 p. 114, A.L. 1973 S.B. 166)
Prior revisions: 1929 § 141; 1919 § 140; 1909 § 149
Sales, where made--number of days' notice.
443.310. All sales of real estate under a power of sale contained in any mortgage or deed of trust executed after
August 28, 1989, shall be made in the county where the land to be sold is situated, and not less than twenty days'
notice of such sale shall be given, whether so provided in such mortgage or deed of trust or not. Where the
property to be sold is located in more than one county, the property may be sold in any county where a part of the
property is located.
(RSMo 1939 § 3463, A.L. 1989 H.B. 49)
Prior revisions: 1929 § 3076; 1919 § 2235; 1909 § 2842
Notice, contents--how published.
443.320. The notice required by section 443.310 shall set forth the date and book and page of the record of such
mortgages or deeds of trust, the grantors, the time, terms and place of sale, and a description of the property to be
sold, and shall be given by advertisement, inserted for at least twenty times, and continued to the day of the sale,
in some daily newspaper, in counties having cities of fifty thousand inhabitants or more, and in all other counties
such notice shall be given by advertisement in some weekly newspaper published in such county for four
successive issues, the last insertion to be not more than one week prior to the day of sale, or in some daily,
triweekly or semiweekly paper published in such county at least once a week for four successive weeks. Such
notice shall appear on the same day of each week, the last insertion to be not more than one week prior to the day
of sale, and if there be no newspaper published in such county or city, such notice shall be published in the
nearest newspaper thereto in this state. Nothing in this section shall be construed to authorize the giving of any
shorter notice than that required by such mortgage or deed of trust. Where the property to be sold lies wholly or in
part within the corporate limits of any city having or that may hereafter have a population of fifty thousand
inhabitants or more, then the notice provided for in this section shall be published in a daily newspaper in such
city and where the property to be sold lies wholly or in part within the corporate limits of a city extending into
two or more counties, then the notice provided for in this section shall be published in some newspaper published
in the county in which the property lies, in the manner provided in this section for publication in such county,
even though such property may lie in a city having a population of fifty thousand inhabitants or more. Where the
property to be sold is located in more than one county, the notices required in this section shall be published in
each county in which a part of the property is located. Other provisions of this section to the contrary
notwithstanding, in any county of the first class not having a charter form of government and containing a portion
of a city with a population over three hundred fifty thousand and in any county of the second class containing a
portion of a city with a population over three hundred fifty thousand, the notice requirements of section 443.310
and this section may be met by advertisement in some weekly newspaper published in such counties for four
successive issues, the last insertion to be not more than one week prior to the date of the sale.
(RSMo 1939 § 3464, A.L. 1943 p. 402, A. 1949 S.B. 1125, A.L. 1951 p. 748, A.L. 1989 H.B. 49)
Prior revisions: 1929 § 3077; 1919 § 2236; 1909 § 2843
CROSS REFERENCE:
Notice, how published in city of St. Louis, 493.100 to 493.120
Individual notice of foreclosure sale--form of request for--recorder's duty--foreclosing part to

give notice--release of security instrument, effect of--notice deemed given, when.
443.325. 1. Any person desiring notice of sale under any deed of trust or mortgage with power of sale upon real
property may, at any time subsequent to recordation of such deed of trust or mortgage, cause to be filed for record
in the office of the recorder of each county in which any part or parcel of the real property is situated a duly
acknowledged request for such notice of sale. This request shall specify the name and address of the person to
whom the notice is to be mailed and shall identify the deed of trust or mortgage by stating the names of the
parties thereto and the legal description of the land described therein and the book and page where the same is
recorded or the recorder's number and shall be in substantially the following form:
"In accordance with RSMo, 443.325, request is hereby made that notice of sale under the deed of trust (or
mortgage) recorded the .... day of ...., 20.., (as recorder's number .... or in Book ...., Page ....) of the records of ....
County, Missouri, the legal description of the property being .... in County, Missouri, executed by .... as Grantor
(or Mortgagor) in which .... is named as beneficiary (or Mortgagee) and .... as Trustee, be mailed to .... (Name)
at ...., (Address) ...., (City) (State).
................. ...............
(Signature)
................. ...............
(Acknowledgment)" A separate request shall be filed for each person desiring notice of sale.
2. Upon the filing for record of such request, the recorder shall index the request in a separate index so that the
name of the mortgagor or grantor shall be indexed as the grantor, and the name of the requesting party shall be
indexed as the grantee.
3. In the event of foreclosure under a power of sale, the foreclosing mortgagee or trustee shall, not less than
twenty days prior to the scheduled date of the sale, cause to be deposited in the United States mail an envelope
certified or registered, and with postage prepaid, enclosing a notice containing the information required in the
published notice of sale referred to in section 443.320, addressed
(1) To each person whose name and address is set forth in any such request recorded at least forty days prior to
the scheduled date of sale; and
(2) To the person shown by the records in the office of the recorder of deeds to be the owner of the property as of
forty days prior to the scheduled date of foreclosure sale at the foreclosing mortgagee's last known address for
said record owner; and
(3) To the mortgagor or grantor named in the deed of trust or mortgage at the foreclosing mortgagee's last known
address for said mortgagor or grantor.
(4) Actual receipt by the addressee of the envelope referred to above shall not be necessary to establish
compliance with the notice requirements of subsection 3 hereof. Recording of receipt issued by the United States
Post Office for certified or registered mail to evidence that said envelope has been delivered by the sender to the
United States Post Office shall constitute proof of compliance with notice requirements of subsection 3 hereof.
4. The foreclosing mortgagee* or trustee of a deed of trust or mortgage filed subsequent to a deed of trust or
mortgage for which a request has been recorded in accordance with subsection 1 hereof shall give notice to each
person named in each such request so long as the prior deed of trust or mortgage identified in such notice has not
been released of record.
5. The release of a deed of trust or mortgage shall cancel of record all requests for notice which pertain to the
deed of trust or mortgage identified in such request.
(L. 1973 H.B. 164, A.L. 1975 H.B. 226)
Effective 7-14-75
*Word "mortgages" appears in original rolls.
Sale by trustee exercising powers under security instrument--times when sale may be held--
places where sale may be held.
443.327. The trustee exercising a power of sale granted in any security instrument may in the trustee's discretion
set the time for sale at any commercially reasonable time, unless the security instrument specifies an hour at
which the sale is to occur. The time for sale will be deemed to be commercially reasonable if the sale is held
between the hours of 9:00 a.m. and 5:00 p.m. on the date of sale. If no time is stated in the notice of sale, then the
sale shall be held at the time customary for such sales in the county. If the trustee elects to state a specific time for
sale in the notice of sale, then the sale shall be held at the time stated in the notice unless the sale is continued as
may be otherwise provided by law.
(L. 1992 S.B. 688, A.L. 1994 H.B. 1312)
Trustee failing to execute trust, parties interested may proceed, how.
443.330. If any trustee in any deed of trust to secure the payment of a debt or other liability shall die, or has died,
shall become or has become mentally incapacitated, shall remove or has removed out of this state, shall neglect or
refuse or has neglected or refused to act as such trustee, or shall or has become unable, by sickness or other
disability, to perform or execute his trust, any person interested in the debt or other liability secured by such deed
of trust, may present his or their affidavit, stating the facts of the case, specifically, to the circuit court of the
county in which the property or estate conveyed by such deed of trust, or any part thereof, is situated.
(RSMo 1939 § 3525, A. 1949 S.B. 1125, A.L. 1983 S.B. 44 & 45)
Prior revisions: 1929 § 3135; 1919 § 13418; 1909 § 11919
Court to appoint sheriff or other suitable person, when--power and duties of trustee.
443.340. If such court shall be satisfied that the facts stated in such affidavit are true, it shall make an order
appointing the sheriff, or some other suitable person of the county, trustee to execute such deed of trust, in the
place of the original trustees; and thereupon such sheriff, or other suitable person appointed by said court, shall be
possessed of all the rights, powers and authority possessed by the original trustee, under the deed of trust, and
such sheriff or other person shall proceed to sell and convey the property and to pay off the debts and liabilities
according to the directions of the deed of trust, and shall do all other acts the original trustee had power to do, and
with the same force and effect.
(RSMo 1939 § 3527, A. 1949 S.B. 1125)
Prior revisions: 1929 § 3137; 1919 § 13419; 1909 § 11920
Foreign corporation or person not to act as trustee, unless domestic corporation or resident
trustee be named as cotrustee--domestic corporation under no disability because articles do
not contain specific power.
443.350. No foreign corporation or individual shall act as trustee in any security instrument made after August
28, 1994, affecting any property, real or personal, situate or being in this state, unless in such instrument there is
named as cotrustee a corporation organized under the laws of this state, or an individual citizen of the state of
Missouri. If any Missouri corporation is designated trustee in any security instrument or is appointed a successor
trustee, it shall not be considered to be subject to any disability to act as such because it is organized under a
chapter of the Missouri revised statutes other than chapter 362, or because its articles of incorporation do not
contain a specific power to execute trusts or serve as trustee under security instruments.
(RSMo 1939 § 3482, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3095; 1919 § 2254; 1909 § 2859
CROSS REFERENCE:
Trust company's powers under reciprocal corporate fiduciary powers act, 362.600
Continuance of sale by trustee without readvertisement, manner--restrictions.
443.355. 1. A trustee exercising a power of sale granted in any security instrument may, in his discretion,
continue the sale without readvertisement or mailing additional notice by announcing or causing to be announced
on the day and at the time and place of sale the fact of such continuance. The announcement shall contain the
date, time and place to which the sale is continued. No party shall have a cause of action for damages against a
trustee for continuing or refusing to continue a sale as provided in this section.
2. Only one continuance shall be made under the authority granted by this section, which continuance shall be for
a period of not to exceed seven days. The provisions of this section shall not prevent the holder of a security
instrument and the owner of the land encumbered thereby from agreeing to more than one continuance or to
continuances for more than one week. Nothing in this section shall prevent a trustee from abandoning a sale
before its completion and commencing new sale proceedings after compliance with sections 443.310, 443.320
and 443.325.
(L. 1993 H.B. 105 & 480)
Compensation of trustees under trust deeds.
443.360. As a compensation for his services, any person selling property at auction under any writing, instrument
or deed made or executed for securing the payment of any debt shall receive a commission on the amount of sales
not exceeding two percent on the first one thousand dollars, and one percent on all sums over that amount and
under five thousand dollars, and one-half of one percent on all sums over that amount.
(RSMo 1939 § 3479)
Prior revisions: 1929 § 3092; 1919 § 2251; 1909 § 2856
Penalty for overcharging.
443.370. Any person taking a larger compensation for his services, as aforesaid, shall be liable to any party
interested in such writing, instrument or deed, in a sum double the amount taken for such services, recoverable by
a suit in a court of competent jurisdiction.
(RSMo 1939 § 3480)
Prior revisions: 1929 § 3093; 1919 § 2252; 1909 § 2857
Recitals in deed prima facie evidence.
443.380. Whenever any real estate within this state shall have been or shall hereafter be sold by any trustee or
mortgagee, or sheriff or other person acting as trustee, under a power of sale given in any mortgage or deed of
trust, the recitals in the trustee or mortgagee's deed concerning the default, advertisement, sale or receipt of the
purchase money, and all other facts pertinent thereto, shall be received as prima facie evidence in all courts of the
truth thereof.
(RSMo 1939 § 3481)
Prior revisions: 1929 § 3094; 1919 § 2253; 1909 § 2858
Trustee's deed not to be accepted by recorder in certain cities or counties unless unpaid notes
are produced--duties of recorder.
443.390. In all cities in this state which now have or which may hereafter have three hundred fifty thousand
inhabitants or more and in all counties in this state of the first class, no trustee's deed or mortgagee's deed under
power of sale in foreclosure of any security instrument recorded prior to January 1, 1986, shall be accepted by the
recorder of deeds for record unless:
(1) The principal note or notes or other principal obligations which were unpaid when the foreclosure sale
commenced and for the default in payment of which foreclosure is had, are produced to the recorder; or
(2) If such notes are lost then the owner of the principal notes or obligations makes an affidavit that such notes
are lost and produces such affidavit for the recorder. Upon such trustee's or mortgagee's deed being filed for
record, the recorder shall make a notation on the principal note or notes or other principal obligations showing
that such deed in foreclosure has been filed of record, in substantially the following form:
"Deed under foreclosure filed ................, 20....
..................................... ....... Recorder" Except, whenever any trustee's deed or mortgagee's deed under power of
sale in foreclosure of any security instrument recorded prior to January 1, 1986, providing for the issuance of
more than one principal note or bond shall be presented for recording, it shall be accepted by the recorder of
deeds for record upon the presentation to the recorder of the unpaid principal note or notes or bonds required by
such security instrument to permit the trustee to sell the property under foreclosure sale. A foreclosure sale shall
be deemed to have commenced within the meaning of this law upon the first publication of the notice of sale.
(RSMo 1939 § 3484, A.L. 1945 p. 681, A.L. 1985 H.B. 210, A.L. 1994 H.B. 1312)
Redemption before sale.
443.400. 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 certificate shall be recorded in the office in which the security
instrument is recorded, and shall have the same effect as if a deed of release has been filed for record.
(RSMo 1939 § 3475, A.L. 1994 H.B. 1312)
Prior revisions: 1929 § 3088; 1919 § 2247; 1909 § 2852
Foreclosures by trustee's sale--how made--redemption.
443.410. 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 the mortgaged
property sold by the trustee or his successor in the same manner and in all respects as in case of mortgages with
power of sale; and all real estate which may be sold under any such power of sale in a mortgage deed of trust
hereafter made and which at such sale shall be brought in by the holder of such debt or obligation or by any other
person for such holder shall be subject to redemption by the grantor in such mortgage deed of trust or his heirs,
devisees, executors, administrators, grantees or assigns at any time within one year from the date of the sale;
provided, however, that such person so entitled to redeem shall give written notice at the sale or within ten days
before the date advertised for the sale to the person making or who is to make the sale of the purpose to redeem if
the sale and purchase are so made; and provided further, the said grantor, his representatives, grantees or assigns
to make the redemption shall within the year pay the debt and interest or other obligation secured by such deed of
trust and to accrue thereon together with all sums paid out by any holder thereof or purchaser at such sale or
holder of the rights of such purchaser for interest and principal and either of any prior encumbrances, and for
taxes and assessments and all legal charges and costs of the sale.
(RSMo 1939 § 3450, A.L. 1993 H.B. 105 & 480)
Prior revisions: 1929 § 3063; 1919 § 2222; 1909 § 2829
Mortgage may be insured for certain buyers, amount, requirements.
443.415. 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 by a first lien or
charge on such real estate security.
(L. 1994 H.B. 1449 § 1 merged with S.B. 718 § 35, A.L. 1998 H.B. 1794 merged with S.B. 719, A.L. 2000 H.B. 1802 merged with S.B. 896, A.L. 2002 H.B.
1375 merged with S.B. 729)
Notice of redemption--how given, rights.
443.420. 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 the satisfaction of the circuit court of the county in which the land is located for the payment of the
interest on the debt or obligation secured by the mortgage deed of trust under which the sale is made to accrue
within such year after the sale is made, and for the payment in full of the legal charges and costs of the sale, and
for the payment of all interest accrued prior to the sale or thereafter which the purchaser at the sale or his
representatives or assigns may pay on any prior encumbrance on the land, as well as the interest which may
accrue thereon during such year allowed for redemption whether so paid or not and all taxes and assessments and
interest and costs thereon whether general or special accrued or accruing during such year allowed for redemption
and whether paid by the purchaser at the sale or not together with interest at rate of six percent per annum on all
sums so paid by the purchaser or those claiming under him and for damages for all waste committed or suffered
by the party giving such security or those claiming under him during such year unless said property is so
redeemed, and it shall be necessary to pay for such redemption all such sums to which the purchaser or those
claiming under him should be entitled with interest as aforesaid. Said security shall be by bond executed by the
person or persons so entitled to redeem with at least one good surety in a sum amply sufficient to cover the
aggregate of all said sums exclusive of the principal debt or obligation, but including damages and interest, to be
so absolutely paid in event redemption is not made and the aggregate of all such shall be the measure of damages
to be paid in satisfaction of said bond if such redemption is not made.
(RSMo 1939 § 3451)
Prior revisions: 1929 § 3064; 1919 § 2223; 1909 § 2830
Motion for approval of bond for redemption--hearing--receiver--additional bond.
443.430. 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 when the same will be filed and
presented shall be given to the purchaser at such sale if he is a resident of the county and can be found therein,
otherwise it shall be given to the trustee making the sale. If court should not be in session when such bond and
application are so filed the clerk may temporarily approve the same subject to future action of the court thereon
but unless so temporarily approved or presented to the court for consideration within such twenty days the same
shall be taken and deemed as finally rejected and disapproved. The court may continue or adjourn the hearing or
consideration of such bond when so within such twenty-day period temporarily approved by the clerk or
presented to the court but the proceedings thereon shall be speedily and summarily acted upon and settled
including the right or not of the obligor or obligors in the bond to give bond and to make such redemption. The
court at discretion may at such hearing or consideration of such bond or at any time during the redemption period
of one year appoint a receiver to take charge and possession of and preserve the property so sold and to have the
rents and profits thereof subject to the orders of the court, and the net result therefrom shall belong to the owner
of the equity of redemption if redemption be made, otherwise to the purchaser at such sale. And the court may
require additional bond to be given as security at any time during such redemption period on application of the
purchaser with at least five days' notice of such application to the principal on the original bond or his attorney, or
agent, or representative.
(RSMo 1939 § 3451, A.L. 1978 H.B. 1634)
Prior revisions: 1929 § 3064; 1919 § 2223
Effective 1-2-79
Certificate of sale--upon failure to redeem, deed to be executed.
443.440. 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 sale and purchase.
And if redemption is not made within the year as so provided he shall thereupon execute to the purchaser or his
heirs or devisees good and sufficient deed of conveyance upon the presentation of such certificate or showing of
reason for its nonproduction to the satisfaction of the trustee. The rights, interests and estates of any of the parties
may be conveyed by deed as interests in land are conveyed and trustee's deed may be made to the original
purchaser and shall inure to his grantees. If the certificate of sale or any conveyance of the purchaser's interest is
recorded the purchaser and his grantee shall give a sufficient recordable acknowledgment of redemption if the
same be made. Any prematurely executed trustee's deed shall operate as a certificate of sale by the trustee, and if
the trustee dies, becomes incapable or cannot be found the court may summarily and on ex parte application of
the purchaser appoint a successor or commissioner to execute a good and sufficient conveyance in completion of
the trustee's sale if redemption be not made within the year provided. Both the certificate of sale and purchase and
deed and the recitals therein shall each be prima facie evidence of the recitals therein.
(RSMo 1939 § 3451)
Prior revisions: 1929 § 3064; 1919 § 2223
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 to affect instruments
filed prior to effective date of section.
443.451. 1. Notwithstanding other provisions of law to the contrary, every mortgage or deed of trust or any
supplement or amendment thereto, or satisfaction thereof, covering any real or personal property situated in this
state, made to secure the payment of bonds issued, or to be issued thereafter, by any corporation which is an
interstate gas pipeline company, or by a public utility as defined in section 386.020, shall be executed and duly
acknowledged and certified, as other instruments affecting real estate, and may be filed in the office of the
secretary of state, who shall certify that the instrument has been filed in his or her office by endorsing upon the
instrument the word "filed" and the date and hour of filing. This endorsement is the filing date of the instrument
and is conclusive of the date and time of the filing in the absence of actual fraud. In lieu of filing an original of
such instrument, a true copy thereof may be filed with an affidavit by the mortgagor or the mortgagee, or an agent
of either, that it is a true copy. The secretary of state shall thereupon file and index the endorsed instrument.
2. The filing of such instrument in the office of the secretary of state shall be notice to all persons of the contents
thereof and to all subsequent purchasers and encumbrancers, and no other filing or recording of any such
instrument shall be necessary.
3. Such mortgage or deed of trust, and any supplement to or amendment thereof, filed in the office of the
secretary of state in accordance with the provisions of this section, shall be a lien on the mortgaged property from
the time it is filed.
4. Such mortgage or deed of trust, or any supplement to or amendment thereof, heretofore recorded or filed in the
office of the recorder of deeds of any county in this state may be refiled in the office of the secretary of state in
the manner provided in this section, and such refiling shall thereafter as to any property not previously released
from such mortgage or deed of trust and any supplement to or amendment thereof be of the same effect as if the
instrument had been originally filed in the office of the secretary of state.
5. When such mortgage is satisfied, released or canceled, in whole or in part, and evidence thereof shall be filed
in the office of the secretary of state, the secretary of state shall enter the date of such satisfaction, release or
cancellation thereof in an appropriate record in his or her office. The secretary of state shall furnish to the person
filing such mortgage, supplement or amendment thereto or any evidence of satisfaction, release or cancellation of
such mortgage a certificate of the filing.
6. The secretary of state shall charge and collect a fee for each filing or certificate of filing in accordance with the
uniform filing fees as provided in section 400.9-403.
7. Instruments recorded or filed prior to August 28, 1993, shall not be affected by this section.
(L. 1993 S.B. 198 § 1)
Financial institutions to pay property tax, how.
443.453. 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
Federal Regulations, in one annual payment before the first day of January of the year following the year for
which the tax is levied. Escrow accounts established between such financial institutions and borrowers are
contractually binding and may disallow the payment of property taxes more than once a year as such payments
are authorized in section 139.053.
(L. 1999 S.B. 386 § 408.620)
Citation of law.
443.701. 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
Definitions.
443.703. 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 estate;
(2) "Affiliate":
(a) Any person who directly controls or is controlled by a residential mortgage loan broker and any other
company that is directly affecting activities regulated by sections 443.701 to 443.893 that is controlled by the
company that controls the residential mortgage loan broker;
(b) Any person:
a. Who is controlled, directly or indirectly, by a trust or otherwise by or for the benefit of shareholders who
beneficially, or otherwise, controls, directly or indirectly, by trust or otherwise, the residential mortgage loan
broker or any company that controls the residential mortgage loan broker; or
b. A majority of the directors or trustees of which constitute a majority of the persons holding any such office
with the residential mortgage loan broker or any company that controls the residential mortgage loan broker; or
(c) Any company, including a real estate investment trust, that is sponsored and advised on a contractual basis by
the residential mortgage loan broker or any subsidiary or affiliate of the residential mortgage loan broker;
(3) "Board", the residential mortgage board created in section 443.816;
(4) "Borrower", the person or persons who use the services of a licensee to obtain a residential mortgage loan;
(5) "Depository institution", the same meaning as such term is defined in Section 3 of the Federal Deposit
Insurance Act, and includes any credit union;
(6) "Director", the director of the division of finance;
(7) "Division", the division of finance within the department of insurance, financial institutions and professional
registration;
(8) "Dwelling", the same meaning as such term is defined in the federal Truth In Lending Act;
(9) "Escrow agent", a third party or person charged with the fiduciary obligation for holding escrow funds on a
residential mortgage loan pending final payout of such funds in accordance with the terms of the residential
mortgage loan;
(10) "Exempt person", the following persons:
(a) Any person that is a depository institution or first-tier subsidiary or service corporation thereof;
(b) Any person engaged solely in commercial mortgage lending or any person making or acquiring commercial
construction loans with the person's own funds for the person's own investment;
(c) Any person engaged solely in the business of securing existing loans on the secondary market provided such
person does not make decisions about the extension of credit to the borrower;
(d) Any wholesale mortgage lender who purchases existing mortgage loans provided such wholesale lender does
not make decisions about the extension of credit to the borrower;
(11) "Federal banking agencies", the Board of Governors of the Federal Reserve System, the Comptroller of the
Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration, and the
Federal Deposit Insurance Corporation;
(12) "Full-service office", office and staff in Missouri reasonably adequate to handle efficiently communications,
questions, and other matters relating to any application for a new or existing home mortgage loan which the
residential mortgage loan broker is brokering, funding, originating, purchasing, or servicing. The management
and operation of each full-service office shall include observance of good business practices such as adequate,
organized, and accurate books and records, ample phone lines, hours of business, staff training and supervision,
and provision for a mechanism to resolve consumer inquiries, complaints, and problems. The director shall
promulgate rules with regard to the requirements of this subdivision and shall include an evaluation of
compliance with this subdivision in the periodic examination of the residential mortgage loan broker;
(13) "Immediate family member", a spouse, child, sibling, parent, grandparent, or grandchild. Immediate family
member includes stepparents, stepchildren, stepsiblings, and adoptive relationships;
(14) "Individual", a natural person;
(15) "Individual mortgage loan servicer", a person who on behalf of a lender or servicer licensed by this state
collects or receives payments including payments of principal, interest, escrow amounts, and other amounts due
on existing obligations due and owing to the licensed lender or servicer for a residential mortgage loan when the
borrower is in default, or in reasonably foreseeable likelihood of default, working with the borrower and the
licensed lender or servicer, collects data and makes decisions necessary to modify either temporarily or
permanently certain terms of those obligations, or otherwise finalizing collection through the foreclosure process;
(16) "Lender", any person who either lends money for or invests money in residential mortgage loans;
(17) "Licensee", any person licensed under sections 443.701 to 443.893;
(18) "Loan brokering", "mortgage brokering", or "mortgage brokerage service", the act of helping to obtain for an
investor or from an investor for a borrower a residential mortgage loan secured by real estate situated in Missouri
or assisting an investor or a borrower in obtaining a residential mortgage loan secured by real estate situated in
Missouri in return for consideration;
(19) "Loan processor or underwriter", an individual who performs clerical or support duties as an employee at the
direction of and subject to the supervision and instruction of a person licensed or exempt from licensing under
sections 443.701 to 443.893.
(a) For purposes of this definition, clerical or support duties may include activities subsequent to the receipt of a
residential mortgage loan application, including:
a. The receipt, collection, distribution, and analysis or information common for the processing or underwriting of
a residential mortgage loan; and
b. Communicating with a consumer to obtain the information necessary for the processing or underwriting of a
loan, to the extent that such communication does not include offering or negotiating loan rates or terms, or
counseling consumers about residential mortgage loan rates or terms;
(b) For an individual to be considered engaged solely in loan processor or underwriter activities, such individual
shall not represent to the public through advertising or other means of communicating or providing information,
including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that such
individual can or will perform any of the activities of a mortgage loan originator;
(20) "Mortgage loan originator", an individual who for compensation or gain or in the expectation of
compensation or gain takes a residential mortgage loan application, or offers or negotiates terms of a residential
mortgage loan. Mortgage loan originator does not include:
(a) An individual engaged solely as a loan processor or underwriter except as otherwise provided in sections
443.701 to 443.893;
(b) A person that only performs real estate brokerage activities and is licensed or registered in accordance with
Missouri law, unless the person is compensated by a lender, a mortgage broker, or other mortgage loan originator
or by any agent of such lender, mortgage broker, or other mortgage loan originator;
(c) A person solely involved in extensions of credit relating to time-share plans, as the term time-share plans is
defined in Section 101(53D) of Title 11, United States Code;
(d) An individual who is servicing a mortgage loan; and
(e) A person employed by a licensed mortgage broker or loan originator who accepts or receives residential
mortgage loan applications;
(21) "Nationwide Mortgage Licensing System and Registry" or "NMLSR", a mortgage licensing system
developed and maintained by the Conference of State Bank Supervisors and the American Association of
Residential Mortgage Regulators for the licensing and registration of licensed mortgage loan originators or
licensed residential mortgage brokers;
(22) "Nontraditional mortgage product", any mortgage product other than a thirty-year fixed rate mortgage;
(23) "Party to a residential mortgage financing transaction", a borrower, lender, or loan broker in a residential
mortgage financing transaction;
(24) "Payments", payment of all or any part of the following: principal, interest and escrow reserves for taxes,
insurance, and other related reserves and reimbursement for lender advances;
(25) "Person", a natural person, corporation, company, limited liability company, partnership, or association;
(26) "Purchasing", the purchase of conventional or government-insured mortgage loans secured by residential
real estate from either the lender or from the secondary market;
(27) "Real estate brokerage activity", any activity that involves offering or providing real estate brokerage
services to the public, including:
(a) Acting as a real estate agent or real estate broker for a buyer, seller, lessor, or lessee of real property;
(b) Bringing together parties interested in the sale, purchase, lease, rental, or exchange of real property;
(c) Negotiating on behalf of any buyer, seller or lessor any portion of a contract relating to the sale, purchase,
lease, rental, or exchange of real property, but not activity to obtain a residential mortgage loan for a borrower
other than bona fide seller financing;
(d) Engaging in any activity for which a person engaged in the activity is required to be registered or licensed as a
real estate agent or real estate broker under any applicable law; and
(e) Offering to engage in any authorized activity or act in any authorized capacity described in paragraph (a), (b),
(c), or (d) of this subdivision;
(28) "Residential mortgage board", the residential mortgage board created in section 443.816;
(29) "Residential mortgage financing transaction", the negotiation, acquisition, sale, or arrangement for or the
offer to negotiate, acquire, sell, or arrange for a residential mortgage loan or residential mortgage loan
commitment;
(30) "Residential mortgage loan", any loan primarily for personal, family, or household use that is secured by a
mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or residential real estate
upon which is constructed or intended to be constructed a dwelling;
(31) "Residential mortgage loan broker", any person, other than an exempt person, engaged in the business of
brokering, funding, servicing, or purchasing residential mortgage loans;
(32) "Residential mortgage loan brokerage agreement", a written agreement in which a residential mortgage
broker agrees to do either of the following:
(a) Obtain a residential mortgage loan for the borrower or assist the borrower in obtaining a residential mortgage
loan; or
(b) Consider making a residential mortgage loan to the borrower;
(33) "Residential mortgage loan commitment", a written conditional agreement to finance a residential mortgage
loan;
(34) "Registered mortgage loan originator", any individual who:
(a) Meets the definition of mortgage loan originator and is an employee of:
a. A depository institution;
b. A subsidiary or service corporation that is:
(i) Owned and controlled by a depository institution; and
(ii) Regulated by a federal banking agency; or
c. An institution regulated by the Farm Credit Administration; and
(b) Is registered with and maintains a unique identifier through, the NMLSR;
(35) "Residential real estate", any real property located in Missouri upon which is constructed or intended to be
constructed a dwelling;
(36) "Servicing", the collection or remittance for, or the right or obligation to collect or remit for, any lender,
noteowner, noteholder or for a residential mortgage loan broker's own account of payments, interests, principal
and trust items such as hazard insurance and taxes on a residential mortgage loan and includes loan payment
follow-up, delinquency loan follow-up, loan analysis and any notifications to the borrower that are necessary to
enable the borrower to keep the loan current and in good standing;
(37) "Soliciting, processing, placing, or negotiating a residential mortgage loan", for compensation or gain, either
directly or indirectly accepting or offering to accept an application for a residential mortgage loan, assisting or
offering to assist in the processing of an application for a residential mortgage loan on behalf of a borrower, or
negotiating or offering to negotiate the terms or conditions of a residential mortgage loan with a lender on behalf
of a borrower, including but not limited to the submission of credit packages for the approval of lenders, the
preparation of residential mortgage loan closing documents, and including a closing in the name of a broker;
(38) "Ultimate equitable owner", a person who, directly or indirectly, owns or controls an ownership interest in a
corporation, foreign corporation, alien business organization, trust, or any other form of business organization
regardless of whether the person owns or controls the ownership interest through one or more persons or one or
more proxies, powers of attorney, nominees, corporations, associations, partnerships, trusts, joint stock
companies, or other entities or devices, or any combination thereof;
(39) "Unique identifier", a number or other identifier assigned by protocols established by the NMLSR.
2. The director may define by rule any terms used in sections 443.701 to 443.893 for efficient and clear
administration.
(L. 2009 H.B. 382, A.L. 2010 H.B. 2201)
Effective 7-07-10
Licensure required, when--effective date--exemptions.
443.706. *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 a
license under sections 443.701 to 443.893 and obtaining employment and acting under the supervision of a single
Missouri licensed residential mortgage broker. Each licensed mortgage loan originator shall register with and
maintain a valid unique identifier issued by the NMLSR.
2. In order to facilitate an orderly transition to licensing and minimize disruption in the mortgage marketplace, the
effective date for subsection 1 of this section shall be July 31, 2010, or such later date approved by the Secretary
of the U.S. Department of Housing and Urban Development under the authority granted under Public Law 110-
289, Section 1508(a).
3. The following are exempt from sections 443.701 to 443.893:
(1) Registered mortgage loan originators when employed and acting under subdivision (34) of subsection 1 of
section 443.703;
(2) Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an
immediate family member of the individual;
(3) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served
as the individual's residence;
(4) A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an
ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a
mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other
mortgage loan originator.
(L. 2009 H.B. 382)
Effective 7-08-09
*Subsection 1 effective 7-31-10 or contingent effective date, see subsection 2.
Loan processors and underwriters, license required.
443.707. 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 loan
processor or underwriter obtains and maintains a license under section 443.706. Each independent contractor loan
processor or underwriter licensed as a mortgage loan originator shall have and maintain a valid unique identifier
issued by the NMLSR. Each independent contractor loan processor or underwriter shall certify annually under
oath to the director that they shall not engage in the activities of a mortgage loan originator absent full
compliance with section 443.706.
(L. 2009 H.B. 382)
Effective 7-08-09
Rulemaking authority--expedited review and licensing procedures permitted, when.
443.709. 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 applications. The director may
establish expedited review and licensing procedures for individuals previously licensed as a residential mortgage
loan broker in Missouri or for individuals who were previously an ultimate equitable owner of a residential
mortgage loan broker in Missouri.
(L. 2009 H.B. 382)
Effective 7-08-09
Application for licensure, form--records and fees--modification of licensure requirements

permitted, when--use of NMLSR as an agent, when.
443.711. 1. Applicants for a mortgage loan originator license shall apply in a form as prescribed by the director.
Each such form shall contain content as set forth by rule, instruction, or procedure of the director and may be
changed or updated as necessary by the director in order to carry out the purposes of sections 443.701 to 443.893.
2. In order to fulfill the purposes of sections 443.701 to 443.893, the director is authorized to establish
relationships or contracts with the NMLSR or other entities designated by the NMLSR to collect and maintain
records and process transaction fees or other fees related to licensees or other persons subject to sections 443.701
to 443.893.
3. For the purpose of participating in the NMLSR, the director is authorized to modify, in whole or in part, by
rule or order, the requirements of sections 443.701 to 443.893 as necessary to participate in the NMLSR.
4. In connection with an application for licensing as a mortgage loan originator, the applicant shall, at a
minimum, furnish to the NMLSR information concerning the applicant's identity, including:
(1) Fingerprints for submission to the Federal Bureau of Investigation, and any governmental agency or person
authorized to receive such information for a state, national, and international criminal history background check;
and
(2) Personal history and experience in a form prescribed by the NMLSR, including the submission of
authorization for the NMLSR and the director to obtain:
(a) An independent credit report from a consumer reporting agency described in Section 603(p) of the Fair Credit
Reporting Act. No applicant would be denied a license solely on the basis of a credit score; and
(b) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction.
5. For the purposes of this section and in order to reduce the points of contact which the Federal Bureau of
Investigation may have to maintain for purposes of subdivision (1) of subsection 4 of this section and paragraph
(b) of subdivision (2) of subsection 4 of this section, the director may use the NMLSR as an agent for requesting
information from and distributing information to the Department of Justice or any governmental agency.
6. For the purposes of this section and in order to reduce the points of contact which the director may have to
maintain for purposes of paragraphs (a) and (b) of subdivision (2) of subsection 4 of this section, the director may
use the NMLSR as an agent for requesting and distributing information to and from any source so directed by the
director.
(L. 2009 H.B. 382)
Effective 7-08-09
Findings required for licensure.
443.713. 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;
except that, a subsequent formal vacation of such revocation shall not be deemed a revocation;
(2) The applicant has not been convicted of or pled guilty or nolo contendere to a felony in a domestic, foreign, or
military court:
(a) During the seven-year period preceding the date of the application for licensing and registration; or
(b) At any time preceding such date of application, if such felony involved an act of fraud, dishonesty, or a breach
of trust, or money laundering; and
(c) Provided that any pardon of a conviction shall not be a conviction for purposes of this subdivision;
(3) The applicant has demonstrated financial responsibility, character, and general fitness such as to command the
confidence of the community and to warrant a determination that the mortgage loan originator shall operate
honestly, fairly, and efficiently within the purposes of sections 443.701 to 443.893;
(a) For purposes of this subdivision, an individual has shown that he or she is not financially responsible when he
or she has shown a disregard in the management of his or her own financial condition. A determination that an
individual has not shown financial responsibility may include, but not be limited to:
a. Current outstanding judgments, except judgments solely as a result of medical expenses;
b. Current outstanding tax liens or other government liens and filings;
c. Foreclosures within the past three years;
d. A pattern of seriously delinquent accounts within the past three years;
(4) The applicant has completed the prelicensing education requirement described in sections 443.701 to 443.893;
(5) The applicant has passed a written test that meets the requirements described in sections 443.701 to 443.893;
(6) The applicant or the applicant's employer has met the Missouri surety bond requirement under sections
443.701 to 443.893.
(L. 2009 H.B. 382)
Effective 7-08-09
Prelicensing education requirements.
443.717. 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) Three hours of federal law and regulations;
(2) Three hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues;
and
(3) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
2. For purposes of subsection 1 of this section, prelicensing approved education courses include courses reviewed
and approved by the NMLSR based upon reasonable standards. Review and approval of a prelicensing education
course shall include review and approval of the course provider.
3. Nothing in this section shall preclude any prelicensing education course, as approved by the NMLSR, that is
provided by the employer of the applicant or person who is affiliated with the applicant by an agency contract, or
any subsidiary or affiliate of such employer or person.
4. Prelicensing education may be offered in a classroom, online, or by any other means approved by the NMLSR.
5. The prelicensing education requirements approved by the NMLSR in subdivisions (1) to (3) of subsection 1 of
this section for any state shall be accepted as credit towards completion of prelicensing education requirements in
Missouri.
6. A person previously licensed under sections 443.701 to 443.893 applying to be licensed again shall prove that
they have completed all of the continuing education requirements, if any, for the year in which the license was
last held.
(L. 2009 H.B. 382)
Effective 7-08-09
Written test required, test measures--minimum competency requirements.
443.719. 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 test developed by the
NMLSR and administered by a test provider approved by the NMLSR based upon reasonable standards.
2. A written test shall not be treated as a qualified written test for purposes of subsection 1 of this section unless
the test adequately measures the applicant's knowledge and comprehension in appropriate subject areas,
including:
(1) Ethics;
(2) Federal law and regulation pertaining to mortgage origination;
(3) State law and regulation pertaining to mortgage origination;
(4) Federal and state law and regulation on fraud, consumer protection, the nontraditional mortgage marketplace,
and fair lending issues.
3. Nothing in this section shall prohibit a test provider approved by the NMLSR from providing a test at the
location of the employer of the applicant or the location of any subsidiary or affiliate of the employer of the
applicant, or the location of any person with which the applicant holds an exclusive arrangement to conduct the
business of a mortgage loan originator.
4. An applicant for licensure as a mortgage loan originator shall demonstrate minimum competence as follows:
(1) An individual shall not be considered to have passed a qualified written test unless the individual achieves a
test score of not less than seventy-five percent correct answers to questions;
(2) An individual may retake a test two times with each consecutive taking occurring at least thirty days after the
preceding test;
(3) After failing three consecutive tests, an individual shall wait at least six months before taking the test again;
(4) A licensed mortgage loan originator who fails to maintain a valid license for a period of five years or longer
shall retake the test, not taking into account any time during which such individual is a registered mortgage loan
originator.
(L. 2009 H.B. 382)
Effective 7-08-09
Renewal of licensure, minimum standards.
443.721. 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;
(2) The mortgage loan originator has satisfied the annual continuing education requirements under sections
443.701 to 443.893;
(3) The mortgage loan originator has paid all required fees for renewal of the license and any other outstanding
obligations to the division or the NMLSR.
2. The license of a mortgage loan originator failing to satisfy the minimum standards for license renewal shall
expire. The director may adopt procedures for the reinstatement of expired licenses consistent with the standards
established by the NMLSR.
(L. 2009 H.B. 382)
Effective 7-08-09
Continuing education requirements.
443.723. 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 section, which shall include at least:
(1) Three hours of federal law and regulations;
(2) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues;
and
(3) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
2. For purposes of subsection 1 of this section, continuing education courses shall be reviewed, and approved by
the NMLSR based upon reasonable standards. Review and approval of a continuing education course shall
include review and approval of the course provider.
3. Nothing in this section shall preclude any education course, as approved by the NMLSR, that is provided by
the employer of the mortgage loan originator or person who is affiliated with the mortgage loan originator by an
agency contract, or any subsidiary or affiliate of such employer or person.
4. Continuing education may be offered either in a classroom, online, or by any other means approved by the
NMLSR.
5. A licensed mortgage loan originator:
(1) Shall only receive credit for a continuing education course in the year in which the course is taken except in
the case of an expired license and under subsection 9 of this section; and
(2) Shall not take the same approved course in the same or successive years to meet the annual requirements for
continuing education.
6. A licensed mortgage loan originator who is an approved instructor of an approved continuing education course
may receive credit for the licensed mortgage loan originator's own annual continuing education requirement at the
rate of two hours credit for every one hour taught.
7. A person having successfully completed the education requirements approved by the NMLSR in subdivisions
(1) to (3) of subsection 1 of this section for any state shall be accepted as credit towards completion of continuing
education requirements in Missouri.
8. A licensed mortgage loan originator who subsequently becomes unlicensed shall complete the continuing
education requirements for the last year in which the license was held prior to issuance of a new or renewed
license.
9. A person meeting the requirements of subdivisions (1) and (3) of subsection 2 of section 443.719 may make up
any deficiency in continuing education as established by rule of the director.
(L. 2009 H.B. 382)
Effective 7-08-09
Duties of director--rule requirements authorized.
443.725. 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
director is authorized to participate in the NMLSR. For this purpose, the director may establish by rule
requirements as necessary, including but not limited to:
(1) Background checks for:
(a) Criminal history through fingerprint or other databases;
(b) Civil or administrative records;
(c) Credit history; or
(d) Any other information as deemed necessary by the NMLSR;
(2) The payment of fees to apply for or renew licenses through the NMLSR;
(3) The setting or resetting as necessary of renewal or reporting dates; and
(4) Requirements for amending or surrendering a license or any other such activities as the director deems
necessary for participation in the NMLSR.
(L. 2009 H.B. 382)
Effective 7-08-09
Challenge of information in NMLSR.
443.727. 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
Supervision and enforcement--civil penalty.
443.729. 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 sections 443.701 to 443.893,
rules issued under sections 443.701 to 443.893, or order or directive entered under sections 443.701 to 443.893;
(2) Deny, suspend, revoke, condition, or decline to renew a license if an applicant or licensee fails at any time to
meet the requirements of sections 443.701 to 443.893, or withholds information or makes a material misstatement
in an application for a license or renewal of a license;
(3) Order restitution against persons subject to sections 443.701 to 443.893 for violations of sections 443.701 to
443.893;
(4) Impose fines on persons subject to sections 443.701 to 443.893 under subsections 2, 3, and 4 of this section;
(5) Issue orders or directives under sections 443.701 to 443.893 as follows:
(a) Order or direct persons subject to sections 443.701 to 443.893 to cease and desist from conducting business,
including immediate temporary orders to cease and desist;
(b) Order or direct persons subject to sections 443.701 to 443.893 to cease any harmful activities or violations of
sections 443.701 to 443.893, including immediate temporary orders to cease and desist;
(c) Enter immediate temporary orders to cease business under a license or interim license issued under the
authority granted under section 443.706 if the director determines that such license was erroneously granted or
the licensee is currently in violation of any of the provisions of sections 443.701 to 443.893;
(d) Order or direct such other affirmative action as the director deems necessary.
2. Any letter issued by the director and declaring grounds for denying or declining to renew a license may be
appealed to the board under chapter 536. All other matters presenting a contested case involving a licensee may
be heard by the director under chapter 536.
3. The director may impose a civil penalty on a mortgage loan originator or person subject to sections 443.701 to
443.893, if the director finds, on the record after notice and opportunity for hearing, that such mortgage loan
originator or person subject to sections 443.701 to 443.893 has violated or failed to comply with any requirement
of sections 443.701 to 443.893 or any regulation prescribed by the director under sections 443.701 to 443.893 or
order issued under authority of sections 443.701 to 443.893.
4. The maximum amount of penalty for each act or omission described in subsection 3 of this section shall be
twenty-five thousand dollars.
5. Each violation or failure to comply with any directive or order of the director is a separate and distinct
violation or failure.
(L. 2009 H.B. 382)
Effective 7-08-09
Surety bond requirements.
443.731. 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) The surety bond shall be in a form as prescribed by the director and shall provide coverage in an amount as
prescribed in subsection 2 of this section.
(3) The director may promulgate rules with respect to the requirements for such surety bonds as are necessary to
accomplish the purposes of sections 443.701 to 443.893.
2. The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of loans
originated as determined by the director but shall in no case be less than fifty thousand dollars or more than one
million dollars.
3. When an action is commenced on a licensee's bond, the director may require the filing of a new bond.
4. Immediately upon recovery on the bond, the licensee shall file a new bond.
(L. 2009 H.B. 382)
Effective 7-08-09
Supervisory information sharing--confidentiality requirements.
443.733. 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 under any federal law
and sections 361.070 and 361.080, regarding the privacy or confidentiality of any information or material
provided to the director and to the NMLSR by a licensee or by the director, and any privilege arising under
federal or state law, including the rules of any federal or state court with respect to such information or material,
shall continue to apply to such information or material after the information or material has been disclosed to the
NMLSR. Such information and material may be shared with all state and federal regulatory officials with
mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections
provided by federal law or by sections 361.070 and 361.080;
(2) The director is authorized to enter agreements or sharing arrangements with other governmental agencies, the
Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, or other
associations representing governmental agencies as established by rule or order of the director;
(3) Information or material that is subject to a privilege or confidentiality under subdivision (1) of this section
shall not be subject to:
(a) Disclosure under any federal or state law governing the disclosure to the public of information held by an
officer or an agency of the federal government or the respective state; or
(b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process,
unless with respect to any privilege held by the NMLSR with respect to such information or material, the person
to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that
privilege;
(4) Confidential supervisory information obtained under sections 443.701 to 443.893 shall be regarded as closed
records under chapter 610;
(5) This section shall not apply to the information or material relating to the employment history of and publicly
adjudicated disciplinary and enforcement actions against mortgage loan originators or residential mortgage loan
brokers that is included in the NMLSR for access by the public.
(L. 2009 H.B. 382)
Effective 7-08-09
Investigations and examinations, authority of director.
443.735. 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 renewal, license suspension, license conditioning, license revocation
or termination, or general or specific inquiry or investigation to determine compliance with sections 443.701 to
443.893, the director shall have the authority to access, receive, and use any books, accounts, records, files,
documents, information, or evidence, including but not limited to:
(a) Criminal, civil, and administrative history information, including nonconviction data; and
(b) Personal history and experience information including independent credit reports obtained from a consumer
reporting agency described in Section 603(p) of the Fair Credit Reporting Act. No applicant would be denied a
license solely on the basis of a credit score; and
(c) Any other documents, information, or evidence the director deems relevant to the inquiry or investigation
regardless of the location, possession, control, or custody of such documents, information, or evidence;
(2) For the purposes of investigating violations or complaints arising under sections 443.701 to 443.893, or for
the purposes of examination, the director may review, investigate, or examine any licensee, individual, or person
subject to sections 443.701 to 443.893 as often as necessary to carry out the purposes of sections 443.701 to
443.893. The director may direct, subpoena, or order the attendance of and examine under oath all persons whose
testimony may be required about the loans or the business or subject matter of any such examination or
investigation, and may direct, subpoena, or order such person to produce books, accounts, records, files, and any
other documents as the director deems relevant to the inquiry;
(3) Each licensee, individual, or person subject to sections 443.701 to 443.893 shall make available to the
director, upon request, the books and records relating to the operations of such licensee, individual, or person
subject to sections 443.701 to 443.893. The director shall have access to such books and records and may
interview the officers, principals, mortgage loan originators, employees, independent contractors, agents, and
customers of the licensee, individual, or person subject to sections 443.701 to 443.893 concerning their business;
(4) Each licensee, individual, or person subject to sections 443.701 to 443.893 shall make or compile reports or
prepare other information as directed by the director to carry out the purposes of this section, including but not
limited to:
(a) Accounting compilations;
(b) Information lists and data concerning loan transactions in a format prescribed by the director; or
(c) Such other information deemed necessary to carry out the purposes of this section;
(5) In making any examination or investigation authorized by sections 443.701 to 443.893, the director may
control access to any documents and records of the licensee or person under examination or investigation. The
director may take possession of the documents and records or place a person in exclusive charge of the
documents and records in the place where they are usually kept. During the period of control, no individual or
person shall remove or attempt to remove any of the documents and records except under a court order or with
the consent of the director. Unless the director has reasonable grounds to believe the documents or records of the
licensee have been or are at risk of being altered or destroyed for purposes of concealing a violation by the
licensee or owner of the documents and records, the licensee or owner shall have access to the documents or
records as necessary to conduct its ordinary business affairs;
(6) To carry out the purposes of this section, the director may:
(a) Retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators to
conduct or assist in the conduct of examinations or investigations;
(b) Enter into agreements or relationships with other government officials or regulatory associations in order to
improve efficiencies and reduce regulatory burden by sharing resources, standardized or uniform methods or
procedures, and documents, records, information, or evidence obtained under this section;
(c) Use, hire, contract, or employ public or privately available analytical systems, methods, or software to
examine or investigate the licensee, individual, or person subject to sections 443.701 to 443.893;
(d) Accept and rely on examination or investigation reports made by other government officials within or without
this state; or
(e) Accept audit reports made by an independent certified public accountant for the licensee, individual, or person
subject to sections 443.701 to 443.893 in the course of that part of the examination covering the same general
subject matter as the audit and may incorporate the audit report in the report of the examination, report of
investigation, or other writing of the director;
(7) The authority of this section shall remain in effect whether such a licensee, individual, or person subject to
sections 443.701 to 443.893 acts or claims to act under any licensing or registration law of this state or claims to
act without such authority;
(8) No licensee, individual, or person subject to investigation or examination under this section may knowingly
withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other
information.
(L. 2009 H.B. 382)
Effective 7-08-09
Violations.
443.737. 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) Engage in any unfair or deceptive practice toward any person;
(3) Obtain property by fraud or misrepresentation;
(4) Solicit or enter into a contract with a borrower that provides in substance that the person or individual subject
to sections 443.701 to 443.893 may earn a fee or commission through best efforts to obtain a loan even though no
loan is actually obtained for the borrower;
(5) Solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the
terms are actually available at the time of soliciting, advertising, or contracting;
(6) Conduct any business covered by sections 443.701 to 443.893 without holding a valid license and
employment as required under sections 443.701 to 443.893, or assist or aide and abet any person in the conduct of
business under sections 443.701 to 443.893 without a valid license as required under sections 443.701 to 443.893;
(7) Fail to make disclosures as required by sections 443.701 to 443.893 and any other applicable state or federal
law;
(8) Fail to comply with sections 443.701 to 443.893 or rules promulgated under sections 443.701 to 443.893, or
fail to comply with any other state or federal law, including the rules applicable to any business authorized or
conducted under sections 443.701 to 443.893;
(9) Make, in any manner, any false or deceptive statement or representation, including with regard to the rates,
points, or other financing terms or conditions for a residential mortgage loan, or engage in bait and switch
advertising;
(10) Negligently make any false statement or knowingly and willfully make any omission of material fact in
connection with any information or reports filed with a governmental agency or the NMLSR or in connection
with any investigation conducted by the director or another governmental agency;
(11) Make any payment, threat, or promise, directly or indirectly, to any person for the purposes of influencing
the independent judgment of the person in connection with a residential mortgage loan or make any payment
threat or promise, directly or indirectly, to any appraiser of a property for the purposes of influencing the
independent judgment of the appraiser with respect to the value of the property;
(12) Collect, charge, attempt to collect or charge, or use or propose any agreement purporting to collect or charge
any fee prohibited by sections 443.701 to 443.893;
(13) Cause or require a borrower to obtain property insurance coverage in an amount that exceeds the
replacement cost of the improvements as established by the property insurer;
(14) Fail to truthfully account for moneys belonging to a party to a residential mortgage loan transaction.
(L. 2009 H.B. 382)
Effective 7-08-09
Reports of condition required.
443.739. 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.
(L. 2009 H.B. 382)
Effective 7-08-09
Violations, director required to report.
443.741. 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. 2009 H.B. 382)
Effective 7-08-09
Nonfederally insured credit unions, registration of employed loan originators required.
443.743. 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 furnishing the information
concerning the employees' identity set forth in Section 1507(a)(2) of Public Law 110-289, Title V.
(L. 2009 H.B. 382)
Effective 7-08-09
Unique identifier to be shown on applications, solicitations, or advertisements.
443.745. 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 corresponding unique identifier of the
mortgage loan broker shall be clearly shown on all residential mortgage loan application forms, solicitations, or
advertisements, including business cards or web sites, and any other documents as established by rule or order of
the director.
(L. 2009 H.B. 382)
Effective 7-08-09
Severability clause--rulemaking authority.
443.747. 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
circumstances is not affected. If the United States Department of Housing and Urban Development disapproves*
in writing to the director of any provision of sections 443.701 to 443.893 under authority granted to it under
Section 1508 of Public Law 110-289, Title V, the S.A.F.E. Act, the director may, in accordance with the
director's rulemaking authority under sections 443.701 to 443.893 and chapter 536, adopt rules as necessary to
participate or continue participation in the NMLSR.
(L. 2009 H.B. 382)
Effective 7-08-09
*Word "disapprove" appears in original rolls.
License required to broker residential mortgage, exceptions.
443.805. 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
to sections 443.701 to 443.893 and the regulations promulgated thereunder. The licensing provisions of sections
443.805 to 443.812 shall not apply to any person engaged solely in commercial mortgage lending or to any
person exempt as provided in section 443.703 or pursuant to regulations promulgated as provided in sections
443.701 to 443.893.
2. No person except a licensee or exempt person shall do any business under any name or title or circulate or use
any advertising or make any representation or give any information to any person which indicates or reasonably
implies activity within the scope of the provisions of sections 443.701 to 443.893.
3. Any exempt entity as defined by section 443.803* on July 7, 2009, shall be exempt from the licensing
requirements of this section until June 1, 2010. Any such exempt entities already licensed between July 8, 2009,
and June 1, 2010, shall not be eligible for any refund of licensure fees.
(L. 1994 S.B. 718 § 2 subsecs. 1, 2, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382, A.L. 2010 H.B. 2201)
Effective 7-07-10
*Section 443.803 was repealed by H.B. 382, 2009, effective July 8, 2009.
Director, power to request injunction, when.
443.807. 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
443.701 to 443.893.
(L. 1994 S.B. 718 § 2 subsec. 3, A.L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)
Effective 7-08-09
Examination, powers of director to inspect records of licensed persons.
443.809. 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 443.701 to 443.893.
The director shall have the right to examine under oath all persons whose testimony may be required relative to
the business of any person being examined or investigated under sections 443.701 to 443.893. The director shall
have free and immediate access to any licensed person's places of business and to all books and records related to
the licensed business.
(L. 1994 S.B. 718 § 2 subsec. 4, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2008 H.B. 2188, A.L. 2009 H.B. 382)
Effective 7-08-09
Penalty for violations.
443.810. Any person who violates any provision of sections 443.805 to 443.812 shall be deemed guilty of a class
C 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 violation for any violation of any of the provisions of sections 443.701 to
443.893.
(L. 1994 S.B. 718 § 2 subsec. 5, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2008 H.B. 2188, A.L. 2009 H.B. 382)
Effective 7-08-09
One license issued to each broker--record required of locations where any business is
conducted--supervision requirements--waiver of licensure, when.
443.812. 1. Only one license shall be issued to each person conducting the activities of a residential mortgage
broker. A residential mortgage broker shall register with the director each office, place of business or location in
Missouri where the residential mortgage loan broker conducts any part of the residential mortgage loan broker's
business pursuant to section 443.839.
2. Residential mortgage loan brokers may only solicit, broker, fund, originate, serve and purchase residential
mortgage loans in conformance with sections 443.701 to 443.893 and such rules as may be promulgated by the
director.
3. No residential mortgage loan broker shall permit an unlicensed individual to engage in the activities of a
mortgage loan originator and no residential mortgage loan broker shall permit a mortgage loan originator to
engage in the activities of a mortgage loan originator under the supervision of the residential mortgage loan
broker until that mortgage loan originator is shown to be employed by the residential mortgage loan broker as
provided in this section.
4. Each residential mortgage loan broker shall report and file a listing with the director showing each mortgage
loan originator licensed in Missouri and employed under the supervision of the residential mortgage loan broker.
The listing shall show the name and unique identifier of each mortgage loan originator. The listing shall be
updated with changes and filed no later than the next business day. The director may authorize a system of
reporting that shows mortgage loan originators employed by Missouri residential mortgage loan brokers via the
NMLSR in substitution for the report and filing requirement under this subsection.
5. The director may grant waivers of residential mortgage loan broker licensing requirements for persons engaged
primarily in servicing residential mortgage loans where such waiver shall benefit borrowers including in
particular the requirement to maintain a full-service office in Missouri.
(L. 1994 S.B. 718 § 2 subsecs. 6, 7, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Residential mortgage board created--members, appointment, qualification, terms, vacancies,

compensation, duties.
443.816. 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 upon it by law. The board shall consist of five members who
shall be appointed by the governor. The members of the board shall be residents of this state, and one of the
members shall be a member of the Missouri Bar in good standing. Three members of the board shall be
experienced in mortgage brokering and the remaining members of the board shall have no financial interest in
any mortgage brokering business. Not more than three members of the board shall be members of the same
political party. The term of office of each member shall be three years. Members shall serve until their successors
are duly appointed and have qualified. Each member shall serve for the remainder of the term for which the
member was appointed. The board shall select one of the members as chairman and one of the members as
secretary. Vacancies on the board shall be filled for the unexpired term in the same manner as in the case of an
original appointment. The members of the board shall receive as compensation the sum of one hundred dollars
per day while discharging their duties, and they shall be reimbursed for their actual and necessary expenses
incurred in the performance of their duties. A majority of the members of the board shall constitute a quorum and
the decision of a majority of a quorum shall be the decision of the board. The board shall meet upon call of the
chairman, or of the director, or of any two members of the board, and may meet at any place in this state. The
board shall:
(1) Approve or disapprove each regulation proposed by the director pertaining to mortgage brokering; and
(2) Hear and determine any appeal from a denial of an application for or renewal of a license issued under
sections 443.701 to 443.893. The board may employ, contract, or appoint hearing officers to hear appeals from
applicants who have been denied a license or a license renewal by the director.
(L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)
Effective 7-08-09
Board members to file business transactions with ethics commission--rules authorized to avoid
conflict of interest.
443.817. Each member of the residential mortgage board shall file annually, no later than February first, with the
Missouri ethics commission a statement of the member's current business transactions or other affiliations with
any residential mortgage loan broker under the provisions of sections 443.701 to 443.893 or such report as the
Missouri ethics commission otherwise directs. The board may adopt any rules or regulations regarding the
conduct of board members to avoid conflicts of interest on the part of the members of the residential mortgage
board in connection with their positions on the board.
(L. 1994 S.B. 718 § 4 subsec. 2, A.L. 2009 H.B. 382)
Effective 7-08-09
Brokerage business to be operated under actual names of persons or corporations, violation,

penalties.
443.819. 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 persons conducting such business, a corporate name
adopted pursuant to law, or a fictitious name registered with the secretary of state's office.
2. Any person who knowingly violates this section shall be deemed guilty of a class A misdemeanor. A person
who is convicted of a second or subsequent violation of this section shall be deemed guilty* of a class C felony.
(L. 1994 S.B. 718 § 5, A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
*Apparent typographical error.
License to be issued on completion of requirements--notice of denial of license to contain

reasons--appeal procedure.
443.821. The director shall issue a residential mortgage loan broker license upon completion of the following:
(1) The filing of an application;
(2) The filing with the director of a listing of judgments entered against, and bankruptcy petitions by, the
applicant for the preceding seven years;
(3) The payment of investigation and application fees to be established by administrative rule; and
(4) An investigation of the averments required by section 443.827, which investigation must allow the director to
issue positive findings stating that the financial responsibility, experience, character and general fitness of the
applicant, and of the members thereof, if the applicant is a partnership or association, and of the officers and
directors thereof if the applicant is a corporation, are such as to command the confidence of the community and to
warrant belief that the business will be operated honestly, fairly and efficiently within the scope of sections
443.701 to 443.893. If the director does not find the applicant's business and personal conduct warrants the
issuance of a license, the director shall notify the applicant of the denial with the reasons stated for such denial.
An applicant may appeal such denial to the board.
(L. 1994 S.B. 718 § 6 subsec. 1, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Licenses to be issued in duplicate, effective when.
443.823. 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 mortgage loan broker may engage in a business regulated by sections 443.701 to 443.893. Such
license shall remain in full force and effect until it expires without renewal, is surrendered by the residential
mortgage loan broker or is revoked or suspended as provided in sections 443.701 to 443.893.
Effective 7-08-09
Application content, oath and form.
443.825. 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
director.
2. The director may, by rule, revise and conform the residential mortgage loan broker license application and
renewal process, and the licensing dates and periods under sections 443.701 to 443.893 to a system of licensing
residential mortgage loan brokers administered in cooperation with the NMLSR.
3. The application shall contain the name and complete business and residential address or addresses of the
applicant. If the applicant is a form of business organization, the application shall contain the names and complete
business and residential addresses of each member, director and principal officer of such person. Such application
shall also include a description of the activities of the applicant, in such detail and for such periods as the director
may require, including all of the following:
(1) An affirmation of financial solvency noting such capitalization requirements as may be required by the
director, and access to such credit as may be required by the director;
(2) An affirmation that the applicant or the applicant's members, directors or principals, as may be appropriate,
are at least eighteen years of age;
(3) Information that would support findings under subdivision (4) of section 443.821 as to the character, fitness,
financial and business responsibility, background, experience and criminal records of any:
(a) Person or ultimate equitable owner that owns or controls, directly or indirectly, ten percent or more of any
class of stock of the applicant;
(b) Person or ultimate equitable owner that is not a depository institution that lends, provides or infuses, directly
or indirectly, in any way, funds to or into an applicant, in an amount equal to, or more than, ten percent of the
applicant's net worth;
(c) Person or ultimate equitable owner that controls, directly or indirectly, the election of twenty-five percent or
more of the members of the board of directors of the applicant; and
(d) Person or ultimate equitable owner that the director finds influences management of the applicant.
(L. 1994 S.B. 718 § 7, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382, A.L. 2009 H.B. 382)
Effective 7-08-09
Applicant for license must agree to maintain certain requirements as to methods of conducting
business.
443.827. 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 office within the state of Missouri as provided in section 443.857;
(2) Will maintain staff reasonably adequate to meet the requirements of section 443.857;
(3) Will keep for thirty-six months the same written records as required by the federal Equal Credit Opportunity
Act, 15 U.S.C. 1691, et seq., and any other information required by rules of the director;
(4) Will timely file any report required pursuant to sections 443.701 to 443.893;
(5) Will not engage, whether as principal or agent, in the practice of rejecting residential mortgage applications or
varying terms or application procedures without reasonable cause, on real estate within any specific geographic
area from the terms or procedures generally provided by the residential mortgage loan broker within other
geographic areas of the state;
(6) Will not engage in fraudulent home mortgage underwriting practices;
(7) Will not make payments for the purpose of improperly influencing the independent judgment of an appraiser;
(8) Has filed state and federal tax returns for the past three years or filed a statement with the director as to why
no return was filed;
(9) Will not engage in any activities prohibited by section 443.863;
(10) Will not knowingly misrepresent, circumvent or conceal any material particulars regarding a transaction to
which the applicant is a party;
(11) Will disburse funds in accordance with the applicant's agreements through a licensed and bonded disbursing
agent or licensed real estate broker;
(12) Has not committed any crime against the laws of this state, or any other state or of the United States,
involving moral turpitude, fraudulent or dishonest dealings and that no final judgment has been entered against
the applicant in a civil action on grounds of fraud, misrepresentation or deceit which has not been previously
reported to the director;
(13) Will account for and deliver to any person any property as agreed or required by law, or, upon demand of the
person entitled to such accounting and delivery;
(14) Has not engaged in any conduct which would be cause for denial of a license;
(15) Has not become insolvent;
(16) Has not submitted an application which contains a material misstatement;
(17) Has not demonstrated negligence or incompetence in the performance of any activity required to hold a
license under sections 443.701 to 443.893;
(18) Will advise the director in writing of any changes to the information submitted on the most recent
application for license within forty-five days of such change. The written notice must be signed in the same form
as the application for the license being amended;
(19) Will comply with the provisions of sections 443.701 to 443.893, or with any lawful order or rule made
thereunder;
(20) Will submit to periodic examinations by the director as required by sections 443.701 to 443.893;
(21) Will advise the director in writing of any judgments entered against, and bankruptcy petitions by, the license
applicant within five days of the occurrence of the judgment or petition; and
(22) Will implement appropriate systems of supervision, management, and control to assure that each employee
engaged in the activities of a mortgage loan originator does so in compliance with sections 443.701 to 443.893,
and will promptly report any detected violations or apparent violations to the director within thirty days of
detection.
(L. 1994 S.B. 718 § 8, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
License refused--grounds.
443.830. 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 and any violator of any provision of sections 443.701 to
443.893; or
(3) The director cannot make the findings specified in section 443.821.
(L. 1994 S.B. 718 § 9, A.L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)
Effective 7-08-09
Renewal of license, date, procedure, fee--failure to renew, license becomes inactive,

reactivation--expires, when.
443.833. 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 otherwise determined by the director to implement a system of
licensing compatible with the NMLSR. Renewal application forms and fees shall be submitted to the director at
least sixty days before the renewal date.
2. The director shall send notice at least ninety days before the residential mortgage loan broker's renewal date,
but failure to send or receive such notice is no defense for failure to timely renew, except when an extension for
good cause is granted by the director. If the director does not grant an extension and the residential mortgage loan
broker fails to submit a completed renewal application form and the proper fees in a timely manner, the director
may assess additional fees as follows:
(1) A fee of five hundred dollars shall be assessed the residential mortgage loan broker thirty days after the proper
renewal date, and one thousand dollars each month thereafter, until the license is either renewed or expires
pursuant to subsections 3 and 4 of this section;
(2) Such fee shall be assessed without prior notice to the residential mortgage loan broker, but shall be assessed
only in cases where the director possesses documentation of the residential mortgage loan broker's continuing
activity for which the unrenewed license was issued.
3. A license which is not renewed by the date required in this section shall automatically become inactive. No
activity regulated by sections 443.701 to 443.893 shall be conducted by the residential mortgage loan broker
when a license becomes inactive. An inactive license may be reactivated by filing a completed reactivation
application with the director, payment of the renewal fee, and payment of a reactivation fee equal to the renewal
fee.
4. A license which is not renewed within one year of becoming inactive shall expire.
(L. 1994 S.B. 718 § 10 subsecs. 1 to 4, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Broker ceasing activity and not desiring to be licensed, procedure--director to cancel license.
443.835. 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 director in writing and, at the same time, return
the license and all other symbols or indicia of licensure to the director. The residential mortgage loan broker shall
include a plan for the withdrawal from a business regulated by sections 443.701 to 443.893, including a timetable
for the disposition of the business. Upon receipt of such written notice, the director shall issue a certified
statement canceling the license.
Effective 7-08-09
Application by broker to open additional full-service offices, fee--certificate to be issued and
posted.
443.839. 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 residential mortgage loan broker's intention in such form as prescribed
by the director; and
(2) Paying a fee to be established by the director.
2. On receipt of the notice and fee, the director shall issue a certificate for the additional office. The certificate
shall be conspicuously displayed in the respective office.
Effective 7-08-09
License to be displayed.
443.841. 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 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Fees to be established by director--rules authorized for assessment and collection.
443.843. 1. The expenses of administering sections 443.701 to 443.893, including investigations and
examinations, shall be borne by and assessed against persons regulated by sections 443.701 to 443.893. The
director shall establish fees by regulation or rule in at least the following categories:
(1) Application fees;
(2) Investigation of license applicant fees;
(3) Examination fees;
(4) Contingent fees;
(5) Fees collected by the NMLSR or paid by a licensee to the NMLSR; and
(6) Such other categories as may be required to administer sections 443.701 to 443.893.
2. In addition to any fees collected pursuant to sections 443.701 to 443.893, the director shall establish schedules
of fees. Any fees established pursuant to the authority of sections 443.701 to 443.893 shall produce revenue that
does not substantially exceed the cost of administering sections 443.701 to 443.893.
(L. 1994 S.B. 718 § 14 subsecs. 1, 2, A.L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)
Effective 7-08-09
Residential mortgage licensing fund created--purpose--fees to be deposited in interest-bearing

account to credit of fund--amount in fund subject to lapse into general revenue.
443.845. 1. There is hereby created in the state treasury the "Residential Mortgage Licensing Fund" which shall
be used, upon appropriation by the general assembly, for all costs incurred by the director in administering the
provisions of sections 443.701 to 443.893. The director shall transmit all fees received by the director pursuant to
sections 443.701 to 443.893 to the director of revenue for deposit in an interest-bearing account in the state
treasury to the credit of the residential mortgage licensing fund. Any interest earned on the money in this fund
shall be credited to the residential mortgage licensing fund.
2. Notwithstanding the provisions of section 33.080 to the contrary, money in this fund shall not be transferred
and placed to the credit of general revenue until the amount in the fund at the end of the biennium exceeds three
times the amount of the appropriations from the residential mortgage licensing fund for the preceding fiscal year.
The amount, if any, in the fund which shall lapse is that amount in the fund which exceeds the appropriate
multiple of the appropriations from the residential mortgage licensing fund for the preceding fiscal years.
(L. 1994 S.B. 718 § 14 subsecs. 3, 4, A.L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)
Effective 7-08-09
Bonding requirements.
443.849. 1. Residential mortgage loan brokers shall deliver a surety bond to the director prior to the issuance or
renewal of a license:
(1) The surety bond shall provide coverage in an amount as prescribed in subsection 2 of this section;
(2) The surety bond shall be in a form as prescribed by the director;
(3) Such bond shall be issued by a bonding or insurance company authorized to do business in Missouri and shall
secure the faithful performance of the applicant, its employees or agents, including mortgage loan originators, in
connection with the activities of originating, servicing, or acquiring mortgage loans;
(4) The director may promulgate rules with respect to the requirements for such surety bonds as are necessary to
accomplish the purposes of sections 443.701 to 443.893.
2. The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of loans
originated by the residential mortgage loan broker as determined by the director but in no case shall be less than
fifty thousand dollars or more than one million dollars.
3. When an action is commenced on a licensee's bond, the director may require the filing of a new bond.
4. Immediately upon any recovery on the bond, the licensee shall file a new bond.
5. The surety bond is for the protection of borrowers and the director may make a claim on the bond on behalf of
any borrower sustaining injury as the result of the actions of a licensee not in compliance with or in violation of
any of the provisions of sections 443.701 to 443.893.
6. In lieu of presenting a claim directly, the director may release the bond to a borrower or the borrower's attorney
to present a claim.
7. The surety may cancel or withdraw the bond under such terms as the director may prescribe but the bond shall
cover any actions that occurred while the bond was in place for the applicable period of limitations under statute
and so long as the bond is not exhausted by valid claims of borrowers.
Effective 7-08-09
Advertising policies may be established by director--standards required.
443.855. The director may prescribe rules governing the advertising of mortgage loans, including, without
limitation, the following requirements:
(1) Advertising pursuant to sections 443.701 to 443.893 may not be false, misleading or deceptive. No person
whose activities are regulated pursuant to the provisions of sections 443.701 to 443.893 may advertise in any
manner so as to indicate or imply that the person's interest rates or charges for loans are in any way
recommended, approved, set or established by the state or federal government or by the provisions of sections
443.701 to 443.893;
(2) All advertisements by a licensee shall contain the name and an office address of such person, which shall
conform to a name and address on record with the director.
Effective 7-08-09
Licensee shall maintain at least one full-service office with staff, duties to handle matters
relating to mortgage--waiver, when.
443.857. Each residential mortgage loan broker shall maintain, in the state of Missouri, at least one full-service
office with staff reasonably adequate to efficiently handle all matters relating to any proposed or existing home
mortgage with respect to which such residential mortgage loan broker is performing services; except that this
provision may be waived by the director for persons providing mortgage loan servicing under section 443.812.
(L. 1994 S.B. 718 § 19, A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Transfer or sale of residential mortgage, notice to be given to mortgagor, contents.
443.861. Whenever the servicing of a residential mortgage is transferred or sold by a residential mortgage loan
broker, notice shall be given to the mortgagor simultaneously with such transfer and shall include, at the
minimum, where and to whom to address the mortgagor's questions relating to the residential mortgage, the exact
name, address and telephone number to whom at least the next three months' payments are to be submitted and
the total amount required of the mortgagor by the servicer for each of the months referred to in the notice.
(L. 1994 S.B. 718 § 21, A.L. 2009 H.B. 382)
Effective 7-08-09
Unlawful discrimination for refusal to loan or vary terms of the loan.
443.863. It is unlawful discrimination to refuse loans or to vary the terms of loans or the application procedures
for loans because of:
(1) The borrower's race, color, religion, national origin, age, gender or marital status; or
(2) The location of the proposed security.

(L. 1994 S.B. 718 § 22, A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Escrow accounts, placement by brokers--authority for rules.
443.865. The director may promulgate rules with respect to placement in escrow accounts by any residential
mortgage loan broker of any money, funds, deposits, checks or drafts entrusted to the residential mortgage loan
broker.
Effective 7-08-09
Disclosure statement required of brokers, content--fee--compensation.
443.867. 1. Each residential mortgage loan broker shall disclose, within a loan brokerage disclosure statement
and fee agreement with each borrower:
(1) Whether the licensee makes loans; and
(2) Whether the funds may be provided by another person which may affect availability of funds.
2. The mortgage loan brokerage disclosure statement and fee agreement shall disclose the amount and sources of
the residential mortgage loan broker's fees and all other compensation related to obtaining a residential mortgage
loan on behalf of the borrower.
3. The loan origination fee or other compensation of a residential mortgage loan broker shall not be limited under
state law so long as the mortgage loan brokerage disclosure statement and fee agreement is fully compliant with
this section and federal law.
4. A mortgage loan originator shall be compensated exclusively by the residential mortgage loan broker
employing the mortgage loan originator. A mortgage loan originator shall not obtain compensation directly from
any lender or borrower or any other person providing real estate settlement services.
5. In the event the mortgage loan brokerage disclosure statement and fee agreement is not fully compliant with
this section or in the event the mortgage loan broker obtains fees and compensation in excess of the amount
disclosed, the mortgage loan broker shall forfeit double the amount of fees and compensation obtained to the
borrower.
(L. 1994 S.B. 718 § 24, A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)
Effective 7-08-09
Powers and duties of director--rulemaking authority.
443.869. 1. The functions, powers and duties of the director shall include the following:
(1) To issue or refuse to issue any license as provided in sections 443.701 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant to sections 443.701 to 443.893;
(3) To keep records of all licenses issued pursuant to sections 443.701 to 443.893;
(4) To receive, consider, investigate and act upon complaints made by any person in connection with any
residential mortgage loan broker or mortgage loan originator in this state;
(5) To consider and act upon any recommendations from the residential mortgage board;
(6) To prescribe the forms for and receive:
(a) Applications for licenses; and
(b) All reports and all books and records required to be made by any residential mortgage loan broker pursuant to
the provisions of sections 443.701 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration of sections 443.701 to 443.893;
(8) To subpoena documents and witnesses and compel their attendance and production, to administer oaths and to
require the production of any books, papers or other material relevant to any inquiry authorized by sections
443.701 to 443.893;
(9) To require information with regard to any applicant as the director may deem desirable, with due regard to the
paramount interests of the public, about the experience, background, honesty, truthfulness, integrity and
competency of the applicant concerning financial transactions involving primary or subordinate mortgage
financing and where the applicant is a person other than an individual, as to the honesty, truthfulness, integrity
and competency of any officer or director of the corporation, association or other person or the members of a
partnership;
(10) To examine the books and records of every residential mortgage loan broker at intervals as provided by
sections 443.701 to 443.893 and the rules promulgated thereunder;
(11) To enforce the provisions of sections 443.701 to 443.893;
(12) To levy fees and charges for services performed in administering the provisions of sections 443.701 to
443.893. The aggregate of all fees collected by the director shall be deposited promptly after receipt and
accompanied by a detailed statement of such receipts in the residential mortgage licensing fund; provided that
fees may also be collected under the requirements of the NMLSR;
(13) To appoint a staff which may include an executive director, examiners, supervisors, experts, special
assistants and any necessary support staff as needed to effectively and efficiently administer the provisions of
sections 443.701 to 443.893;
(14) To conduct hearings for such purposes as the director deems appropriate; and
(15) To enter into agreements or contracts with authorized representatives of the NMLSR as appropriate to
implement the NMLSR in Missouri.
2. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority
delegated in this section shall become effective only if it complies with and is subject to all of the provisions of
chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the
powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date or to
disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and
any rule proposed or adopted after August 28, 2001, shall be invalid and void.
Effective 7-08-09
Director may issue subpoenas and subpoenas duces tecum--authority to administer oaths.
443.871. The director may issue and serve subpoenas and subpoenas duces tecum to compel the attendance of
witnesses and the production of all books, accounts, records and other documents and materials relevant to an
examination or investigation. The director or the director's duly authorized representative may administer oaths
and affirmations to any person.
(L. 1994 S.B. 718 § 26 subsec. 1, A.L. 1995 H.B. 63, et al.)
Effective 6-13-95
Failure to comply with subpoenas, director may petition circuit court for compliance order,
injunctive relief and other remedies authorized.
443.873. If any person does not comply with a subpoena or subpoena duces tecum issued or caused to be issued
by the director, the director may petition the circuit court of the county in which the person subpoenaed resides or
has the person's principal place of business for an order requiring the subpoenaed person to appear and testify and
to produce such books, accounts, records and other documents as are specified in the subpoena duces tecum. The
court may grant injunctive relief restraining the person from advertising, promoting, soliciting, entering into,
offering to enter into, continuing, or completing any residential mortgage financing transaction or residential
mortgage servicing transaction. The court may grant such other relief, including, but not limited to, the restraint,
by injunction or appointment of a receiver, of any transfer, pledge, assignment or other disposition of the person's
assets or any concealment, alteration, destruction or other disposition of books, accounts, records or other
documents and materials as the court deems appropriate, until the person has fully complied with the subpoena or
subpoena duces tecum and the director has completed an investigation or examination.
Effective 6-13-95
Bond may be required, conditioned on compliance with subpoena, when.
443.875. When it appears to the director that the compliance with a subpoena or subpoena duces tecum issued or
caused to be issued by the director pursuant to sections 443.871 to 443.877 is essential to an investigation or
examination, the director, in addition to the other remedies provided for in sections 443.871 to 443.877, may
apply for relief to the circuit court of the county in which the subpoenaed person resides or has the person's
principal place of business. The court shall thereupon direct the issuance of an order against the subpoenaed
person requiring sufficient bond conditioned on compliance with the subpoena or subpoena duces tecum. The
court shall cause to be endorsed on the order a suitable amount of bond or payment pursuant to which the person
named in the order shall be freed, having a due regard to the nature of the case.
Effective 6-13-95
Writ of attachment authorized on failure to comply with subpoena.
443.877. In addition to the other provisions of sections 443.871 to 443.877, the director may seek a writ of
attachment or an equivalent order from the circuit court having jurisdiction over the person who has refused to
obey a subpoena, who has refused to give testimony or who has refused to produce the material described in the
subpoena duces tecum.
Effective 6-13-95
Reports required, failure to comply, penalty.
443.879. 1. In addition to any reports required pursuant to sections 443.701 to 443.893, every licensee shall file
such other reports as the director shall request.
2. Any residential mortgage loan broker or any officer, director, employee or agent of any residential mortgage
loan broker who fails to file any reports required by sections 443.701 to 443.893 or who shall deliberately,
willfully or knowingly make, subscribe to or cause to be made any false entry with intent to deceive the director
or the director's appointees or who shall purposely cause delay in filing such reports shall be deemed guilty of a
class A misdemeanor.
Effective 7-08-09
Suspension or revocation of license, grounds--procedure, penalties.
443.881. 1. Upon written notice to a licensee, the director may suspend or revoke any license issued pursuant to
sections 443.701 to 443.893 if the director makes a finding of one or more of the following in the notice that:
(1) Through separate acts or an act or a course of conduct, the licensee has violated any provision of sections
443.701 to 443.893, any rule promulgated by the director or any other law or rule of this state or the United
States;
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license
would have warranted the director in refusing originally to issue such license;
(3) If a licensee is other than an individual, any ultimate equitable owner, officer, director or member of the
licensed partnership, association, corporation or other person has so acted or failed to act as would be cause for
suspending or revoking a license to that party as an individual.
2. No license shall be suspended or revoked, except as provided in this section, nor shall any licensee be subject
to any other disciplinary proceeding without notice of the licensee's right to a hearing as provided in sections
443.701 to 443.893.
3. The director, on good cause shown that an emergency exists, may suspend any license for a period not to
exceed thirty days, pending an investigation.
4. The provisions of section 443.835 shall not affect a licensee's civil or criminal liability for acts committed
before such licensee surrenders the license.
5. No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting
lawful contract between the licensee and any person.
6. Every license issued pursuant to sections 443.701 to 443.893 shall remain in force and effect until the license
has expired without renewal, has been surrendered, revoked or suspended in accordance with the provisions of
sections 443.701 to 443.893, except that, the director may reinstate a suspended license or issue a new license to a
licensee whose license has been revoked if no fact or condition exists which would have warranted the director to
refuse originally to issue such license pursuant to sections 443.701 to 443.893.
7. Whenever the director revokes or suspends a license issued pursuant to sections 443.701 to 443.893, the
director shall post public notice of such order and shall serve a copy of such order upon the licensee. Such order
may be reviewed by the board.
8. When the director finds any person in violation of the grounds provided in subsection 9 of this section, the
director may enter an order imposing one or more of the following disciplinary actions:
(1) Revocation of the license;
(2) Suspension of the license subject to reinstatement upon satisfying all reasonable conditions the director may
specify;
(3) Placement of the licensee on probation for a period of time and subject to any reasonable conditions as the
director may specify;
(4) Issuance of a reprimand; and
(5) Denial of a license.
9. The following acts shall constitute grounds for which the disciplinary actions specified in subsection 8 of this
section may be taken:
(1) Being convicted or found guilty, regardless of pendency of an appeal, of a crime in any jurisdiction which
involves fraud, dishonest dealings, or any other act involving moral turpitude;
(2) Fraud, misrepresentation, deceit or negligence in any mortgage financing transaction;
(3) A material or intentional misstatement of fact on an initial or renewal application;
(4) Failure to follow the director's rules with respect to placement of funds in escrow accounts;
(5) Insolvency or filing under any provision of the United States Bankruptcy Code as a debtor;
(6) Failure to account or deliver to any person any property upon demand of the person entitled to such
accounting and delivery;
(7) Failure to disburse funds in accordance with agreements;
(8) Any misuse, misapplication or misappropriation of trust funds or escrow funds;
(9) Having a license, or the equivalent, to practice any profession or occupation revoked, suspended or otherwise
acted against, including the denial of licensure by a licensing authority of this state or another state, territory or
country for fraud, dishonest dealings or any other act involving moral turpitude;
(10) Failure to issue a satisfaction of mortgage when the mortgage has been executed and proceeds were not
disbursed to the benefit of the mortgagor and when the mortgagor has fully paid the licensee's costs and
commission;
(11) Failure to comply with any order of the director or rule made or issued pursuant to the provisions of sections
443.701 to 443.893;
(12) Engaging in activities regulated by sections 443.701 to 443.893 without a current, active license unless
specifically exempted by the provisions of sections 443.701 to 443.893;
(13) Failure to pay timely any fee or charge due under the provisions of sections 443.701 to 443.893;
(14) Failure to maintain, preserve and keep available for examination, all books, accounts or other documents
required by the provisions of sections 443.701 to 443.893 and the rules of the director;
(15) Refusal to permit an investigation or examination of the licensee's or the licensee's affiliates' books and
records or refusal to comply with the director's subpoena or subpoena duces tecum;
(16) A pattern of substantially underestimating closing costs;
(17) Failure to comply with, or any violation of, any provision of sections 443.701 to 443.893.
10. A licensee shall be subject to the disciplinary actions specified in sections 443.701 to 443.893 for a violation
of subsection 9 of this section by any officer, director, member, shareholder, joint venture, partner, ultimate
equitable owner or employee of the licensee.
11. Such licensee shall be subject to suspension or revocation for employee actions only if there is a pattern of
repeated violations by an employee or employees or the licensee has knowledge of the violation.
12. The procedures for the surrender, suspension, or revocation of a license shall be:
(1) The director may, after ten days' notice by certified mail to the licensee at the address set forth on the license,
or in the case of a mortgage loan originator, the principal office of the residential mortgage loan broker
employing or last employing the originator, stating the contemplated action and, in general, the grounds for such
action and the date, time and place of a hearing on the action, and after providing the licensee with a reasonable
opportunity to be heard prior to such action, revoke or suspend any license issued pursuant to sections 443.701 to
443.893 if the director finds that:
(a) The licensee has failed to comply with any provision of sections 443.701 to 443.893 or any order, decision,
finding, rule or direction of the director lawfully made pursuant to the authority of sections 443.701 to 443.893;
or
(b) Any fact or condition exists which, if it had existed at the time of the original application for the license,
clearly would have warranted the director to refuse to issue the license;
(2) Any licensee may surrender a license by delivering to the director written notice that the licensee thereby
surrenders such license, but surrender shall not affect the licensee's civil or criminal liability for acts committed
prior to surrender or entitle the licensee to a return of any part of the license fee.
Effective 7-08-09
Director to maintain a staff capable of investigations--licensees to open record for

investigators.
443.883. The director shall at all times maintain staff and facilities adequate to receive, record and investigate
complaints and inquiries made by any person concerning sections 443.701 to 443.893 and any licensees licensed
pursuant to the provisions of sections 443.701 to 443.893. Each licensee shall open the licensee's books, records,
documents and offices wherever situated to the director or the director's appointees as needed to facilitate such
investigations.
Effective 7-08-09
Report to be filed with director annually, contents.
443.885. On or before March first of each year, each residential mortgage loan broker, except exempt persons
shall file a report with the director which shall disclose the following information with respect to the immediately
preceding calendar year:
(1) A list of home mortgages granted, issued, originated or closed during the report period, with respect to which
such licensee has had any connection. The list shall show for each census tract, in regions where such census
tracts have been established and by zip code in all other regions, the number and aggregate dollar amount of
applications for and the number granted and aggregate dollar amount of:
(a) Conventional mortgage loans;
(b) Mortgage loans insured under the National Housing Act, 12 U.S.C. 1701, et seq.; and
(c) Mortgage loans guaranteed under the provisions of the Federal Veterans' Benefits Act, 38 U.S.C. 3710, et
seq.;
(2) List by zip code in those areas having no census tract:
(a) The total number of home mortgages on real estate situated in this state with respect to which the licensee has
had any connection and which are in default on the last day of the reporting period; and
(b) The total number of claims paid during the reporting period on home mortgages with respect to which the
licensee has had any connection, including the date of the first default thereon and the date each such foreclosure
proceeding was instituted;
(3) If the director finds that another report that the licensee is required to compile is equivalent to the annual
report of mortgage activity, then the director may accept such report as fulfilling the reporting requirements of
this section;
(4) The director may also require by rule that licensees report such additional information as is necessary to
assure compliance with the provisions of sections 443.701 to 443.893.
Effective 7-08-09
General rulemaking powers of director.
443.887. 1. In addition to such other powers as may be prescribed by sections 443.701 to 443.893, the director
may promulgate rules consistent with the purpose of sections 443.701 to 443.893, including, but not limited to:
(1) Such rules in connection with the activities of licensees as may be necessary and appropriate for the protection
of consumers in this state;
(2) Such rules as may be necessary and appropriate to define improper or fraudulent business practices in
connection with the activities of licensees;
(3) Such rules as may define the terms used in sections 443.701 to 443.893 and as may be necessary and
appropriate to interpret and implement the provisions of sections 443.701 to 443.893; and
(4) Such rules as may be necessary for the enforcement of sections 443.701 to 443.893.
2. The director may make such specific ruling, demands and findings as the director may deem necessary for the
proper conduct of the mortgage lending industry.
Effective 7-08-09
Court action to recover compensation for services, proof that services performed by valid
licensee required, exception.
443.889. Unless exempt from licensure pursuant to the provisions of sections 443.701 to 443.893, no person
engaged in, or offering to engage in, any act or service for which a license is required pursuant to the provisions
of sections 443.701 to 443.893 may bring or maintain any action in any court of this state to collect compensation
for the performance of the licensable services without alleging and proving that the person was the holder of a
valid residential mortgage license issued pursuant to the provisions of sections 443.701 to 443.893 at all times
during the performance of such services.
(L. 1994 S.B. 718 § 32, A.L. 2009 H.B. 382)
Effective 7-08-09
Charge in support of removal or prohibition notice issued on certain findings of conduct.
443.891. 1. Upon making any one or more of the following preliminary findings, the director may issue a notice
of charges against a licensee in support of an order imposing a fine, requiring restitution or forfeiture, suspending
or revoking a license, or an order of removal and prohibition, which order may remove and prohibit a named
person from participating in loan brokering, mortgage brokering or mortgage brokerage service for any loan
secured by real estate whether in the affairs of an exempt person or in the affairs of* any licensees under sections
443.701 to 443.893, or in the affairs of any depository** institution under the jurisdiction of the director. An
order of removal or of prohibition may be permanent or for a specific term and may impose additional conditions
including requiring restitution and imposition of a civil penalty not exceeding twenty-five thousand dollars per
occurrence. The findings required by this section may be any one or more of the following:
(1) A finding that the person subject to the order has been convicted of a crime involving material financial loss
to a licensee, a depository institution, a government- sponsored enterprise, a Federal Home Loan Bank, a Federal
Reserve Bank or any other person;
(2) A finding that the person subject to the order has, in connection with the application for or procurement of a
loan secured by real estate, made any material misstatement, misrepresentation, or omission. As used in this
section, "material" means important information about which the director or board should be informed and which
may influence a licensing or lending decision;
(3) A finding that the person subject to the order has pleaded guilty to, entered a plea of nolo contendere to, or
been found guilty of mortgage fraud as defined in section 570.310;
(4) A finding that the person subject to the order has violated any provision of sections 443.701 to 443.893.
2. If a hearing is requested, the director or his or her designee shall conduct a hearing under chapter 536.
3. If the respondent defaults, consents to an order under this section, or if upon the record the director finds the
grounds specified supporting an order, the director may issue such an order including conditions for restitution or
for a civil penalty not to exceed twenty-five thousand dollars to be effective thirty days after service and to
remain in effect and enforceable except to the extent it is stayed, modified, terminated or set aside by action of the
director or a reviewing court.
(L. 1994 S.B. 718 § 33, A.L. 1995 H.B. 63, et al., A.L. 2008 H.B. 2188, A.L. 2009 H.B. 382)
Effective 7-08-09
*Word "of" omitted from original rolls.
**Word "depositary" appears in original rolls.
Receiver or conservator to be appointed by court, when--attorney general's duty.
443.893. When the director makes a finding that a receivership or conservatorship is necessary to protect
consumers of a licensee from the consequences of the licensee's failure to comply with the provisions of sections
443.701 to 443.893 or other unsafe and unsound practice, the director shall request the attorney general of this
state to petition the circuit court of Cole County or of the county in which the licensee is located to appoint a
receiver or conservator for purposes of protecting consumers and resolving the affairs of the licensee.
Effective 7-08-09
Reverse mortgage act--definitions.
443.901. 1. Sections 443.901 to 443.912 shall be known and be cited as the "Missouri Reverse Mortgage Act".
2. For the purposes of sections 443.901 to 443.912 the following terms mean:
(1) "Authorized lender" or "lender", a lender authorized to engage in business as a bank, savings institution or
credit union under the laws of the United States or this state, residential mortgage licensee who is licensed
pursuant to sections 443.800 to 443.893 or entity that is an exempt entity pursuant to sections 443.800 to
443.893;
(2) "Brokered", the act of helping to obtain for an investor or other entity, or from an investor or other entity, for
a borrower, a residential mortgage loan, including a reverse mortgage loan;
(3) "Originated", advertised, solicited, processed, for which a loan application is taken, or which is closed,
committed for, or funded;
(4) "Principal" as it relates to reverse mortgages, the total of the net amount paid to, receivable by, contracted for,
or paid, or payable, for the account of the borrower, and to the extent payment is deferred, additional charges
permitted by sections 443.901 to 443.912;
(5) "Reverse mortgage loan", a loan originated, made or brokered by an authorized lender which:
(a) Is secured by residential real estate property;
(b) Provides cash advances to the borrower based upon the equity in the borrower's owner-occupied principal
residence;
(c) Requires no payment of principal or interest until the entire loan becomes due and payable; and
(d) Otherwise complies with the terms of sections 443.901 to 443.912.

(L. 1995 H.B. 63, et al. § 1)
Reverse mortgage regulations.
443.903. Notwithstanding any other provisions of law to the contrary, reverse mortgage loans shall be governed
by the following:
(1) Payment in whole or in part is permitted without penalty at any time during the period of the loan;
(2) An advance made under a reverse mortgage and interest on the advances have priority over a lien filed after
the closing of a reverse mortgage loan;
(3) A reverse mortgage loan may provide for an interest rate which is fixed or adjustable and may also provide for
interest that is contingent on appreciation in the value of the property;
(4) If a reverse mortgage loan provides for periodic advances to a borrower, the advances may not be reduced in
amount or number based on an adjustment in the interest rate;
(5) Lenders failing to make loan advances as required in the loan agreement and failing to cure the default as
required in the loan agreement shall forfeit an amount equal to the greater of two hundred dollars or one percent
of the amount of the loan advance the lender failed to make;
(6) The repayment requirement is also expressly subject to the following additional conditions:
(a) Temporary absences from the home not to exceed sixty consecutive days do not cause the mortgage to
become due and payable;
(b) Temporary absences from the home exceeding sixty consecutive days, but less than six months, do not cause
the mortgage to become due and payable so long as the borrower has taken prior action which secures the home
in a satisfactory manner;
(c) The lender's right to collect reverse mortgage loan proceeds is subject to the applicable statute of limitations
for loan contracts. Notwithstanding the applicable statute of limitations for loan contracts, the statute of
limitations commences on the date that the mortgage becomes due and payable;
(d) The lender must prominently disclose any interest or other fees to be charged during the period that
commences on the date that the mortgage becomes due and payable and ends when repayment in full is made;
(7) The following fees and charges may be charged to the borrower, and financed by the lender, in connection
with a reverse mortgage loan, except for loans insured or guaranteed by agencies of the federal government in
which case federal law or regulation shall apply:
(a) A nonrefundable origination fee not to exceed two percent of the principal;
(b) Fees and charges prescribed by law actually and necessarily paid to public officials for perfecting, releasing or
satisfying a security interest related to the reverse mortgage loan;
(c) Recording taxes to perfect documents;
(d) Bona fide closing costs paid to third parties, which shall include:
a. Fees or premiums for title examination, title insurance or similar purposes, including surveys;
b. Fees for preparation of a deed, settlement statement or other documents;
c. Fees for notarizing deeds and other documents;
d. Appraisal fees; and
e. Fees for credit reports;
(e) A charge for insurance against loss of, or damage to, property where no such coverage already exists;
(f) Fixed monthly servicing fees, repair administration fees and payment plan change fees;
(8) As a convenience to the borrower, reverse mortgage loan applications may be taken by the lender over the
telephone or at the borrower's home and reverse mortgage loans may be closed by mail or at a title company's
office.
(L. 1995 H.B. 63, et al. § 2, A.L. 1997 H.B. 633)
Effective 6-4-97
Reverse mortgage may be made regardless of certain other transactions.
443.906. Reverse mortgage loans may be made or acquired without regard to the following provisions for other
types of mortgage transactions:
(1) Limitations on the purpose and use of future advances or any other mortgage proceeds;
(2) Limitations on future advances to a term of years, or limitations on the term of credit line advances;
(3) Limitations on the term during which future advances take priority over intervening advances;
(4) Requirements that a maximum mortgage amount be stated in the mortgage;
(5) Prohibitions on balloon payments;
(6) Prohibitions on compound interest;
(7) Interest rate limits under the usury statutes;
(8) Requirements that a percentage of the loan proceeds must be advanced prior to loan assignment.
(L. 1995 H.B. 63, et al. § 3)
Treatment of payments for certain purposes.
443.909. Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as
income for the purpose of determining eligibility and benefits under means-tested programs of aid to individuals:
(1) Undisbursed funds shall be treated as equity in a borrower's home and not as proceeds from a loan for the
purpose of determining eligibility and benefits under means-tested programs of aid to individuals;
(2) This section applies to any law relating to payments, allowances, benefits or services provided on a means-
tested basis by this state, including, but not limited to, supplemental security income, low-income energy
assistance, property tax relief, medical assistance and general assistance.
(L. 1995 H.B. 63, et al. § 4)
Statement regarding counseling services on reverse mortgages.
443.912. No reverse mortgage loan commitment may be made by a lender unless the loan applicant attests in
writing that the applicant received from the lender at the time of initial inquiry a statement regarding the
advisability and availability of independent information and counseling services on reverse mortgages. Such
statement may be in a form developed by the lender or the division of finance.
(L. 1995 H.B. 63, et al. § 5)
Prohibited acts--constitutes mortgage fraud--no private right of action created.
443.930. 1. It is unlawful for a person, in connection with the application for or procurement of a loan secured by
real estate to:
(1) Employ a device, scheme, or artifice to defraud;
(2) Make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the
statement made, in the light of the circumstances under which it is made, not misleading;
(3) Receive any portion of the purchase, sale, or loan proceeds, or any other consideration paid or generated in
connection with a real estate closing that such person knew involved a violation of this section; or
(4) Influence, through extortion or bribery, the development, reporting, result, or review of a real estate appraisal,
except that this subsection does not prohibit a mortgage lender, mortgage broker, mortgage banker, real estate
licensee, or other person from asking the appraiser to do one or more of the following:
(a) Consider additional property information;
(b) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or
(c) Correct errors in the appraisal report in compliance with the Uniform Standards of Professional Appraisal
Practice.
2. Such acts shall be deemed to constitute mortgage fraud.
3. This section shall not be construed to create a private right of action.

(L. 2008 H.B. 2188)
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Missouri - Revised Statutes, Chapter 443, Mortgages, Deeds of Trust and Mortgage Brokers

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Missouri - Revised Statutes, Chapter 443, Mortgages, Deeds of Trust and Mortgage Brokers

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CHAPTER 443 Page 1 of 62

Missouri Revised Statutes

Security instrument defined.

Prior revisions: 1929 § 3061; 1919 § 2220

Claim of such extension barred, when.

Prior revisions: 1929 § 3062; 1919 § 2221

Prior acknowledgment of deed of trust deemed valid.

Prior revision: 1929 § 3022

Recording of instrument required--failure to record, effect on persons subsequently obtaining

Future advances may be secured, how--definitions--requirements--limitations--priorities--

443.055. 1. As used in this section, the following terms mean:

(3) "Construction loan", a loan:

(a) Which is secured by a security instrument; and

(9) "Person", a natural person, firm, partnership, association, or corporation;

*Word "to" does not appear in original rolls.

Acknowledgment of satisfaction and release, how made.

"See release dated .................................................................. ............................... Recorder" and of the

Prior revisions: 1929 § 3078; 1919 § 2237; 1909 § 2844

*Words "they are" appear in original rolls.

Affidavit required with deed of release, when--penalty for failure.

Prior revisions: 1929 § 3079; 1919 § 2238; 1909 § 2845

Satisfaction of mortgage, deed of trust or security instrument of railroad or utility, when

Prior revisions: 1929 § 3080; 1919 § 2239; 1909 § 2846

Part of property may be released, how.

"See partial release dated .......................................................

Prior revisions: 1929 § 3081; 1919 § 2240; 1909 § 2847

Payment of one or more notes, how canceled--memorandum on record--affidavit required,

Prior revisions: 1929 § 3082; 1919 § 2241; 1909 § 2848

Prior revisions: 1929 § 3083; 1919 § 2242

Penalty for making false affidavit.

Prior revisions: 1929 § 3084; 1919 § 2243; 1909 § 2849

Liability for failing to satisfy--demand by certified mail required.

Prior revisions: 1929 § 3085; 1919 § 2244; 1909 § 2850

Attorney in fact may enter satisfaction.

Prior revisions: 1929 § 3086; 1919 § 2245; 1909 § 2851

Acknowledgment and satisfaction--how made by a corporation.

Prior revisions: 1929 § 3087; 1919 § 2246

Personal representative may satisfy and deliver deed or release.

Prior revisions: 1929 § 3089; 1919 § 2248; 1909 § 2853

Penalty for failing to acknowledge satisfaction and deliver deed of release.

Prior revisions: 1929 § 3090; 1919 § 2249; 1909 § 2854

Sections 443.160 and 443.170 construed.

(RSMo 1939 § 3478)

Prior revisions: 1929 § 3091; 1919 § 2250; 1909 § 2855

Releases of mortgages or deeds of trust defective--deemed valid, when.

Petition to foreclose, where filed.

Prior revisions: 1929 § 3060; 1919 § 2219; 1909 § 2828

Right to foreclose barred when note barred, 516.150

Petition, where filed.

Prior revisions: 1929 § 3065; 1919 § 2224; 1909 § 2831

Proceedings to be as in civil actions.

Prior revisions: 1929 § 3068; 1919 § 2227; 1909 § 2834

Who may be made parties.

Prior revisions: 1929 § 3069; 1919 § 2228; 1909 § 2835

Judgment on constructive notice.

Prior revisions: 1929 § 3070; 1919 § 2229; 1909 § 2836

Judgment on personal service.

Prior revisions: 1929 § 3071; 1919 § 2230; 1909 § 2837

Proceedings where mortgagee, secured party, mortgagor or debtor dies.

Prior revisions: 1929 § 3066; 1919 § 2225; 1909 § 2832

Judgment when personal representative is party defendant.

Prior revisions: 1929 § 3067; 1919 § 2226; 1909 § 2833

Execution to be a special fieri facias.