Applicant for license must agree to maintain certain requirements asto methods of conducting business.
443.827. Each application for a residential mortgage loan brokerlicense shall be accompanied by an averment that the applicant:
(1) Will maintain at least one full-service office within the stateof Missouri as provided in section 443.857;
(2) Will maintain staff reasonably adequate to meet the requirementsof section 443.857;
(3) Will keep for thirty-six months the same written records asrequired by the federal Equal Credit Opportunity Act, 15 U.S.C. 1691, etseq., and any other information required by rules of the director;
(4) Will timely file any report required pursuant to sections 443.701to 443.893;
(5) Will not engage, whether as principal or agent, in the practiceof rejecting residential mortgage applications or varying terms orapplication procedures without reasonable cause, on real estate within anyspecific geographic area from the terms or procedures generally provided bythe residential mortgage loan broker within other geographic areas of thestate;
(6) Will not engage in fraudulent home mortgage underwritingpractices;
(7) Will not make payments for the purpose of improperly influencingthe independent judgment of an appraiser;
(8) Has filed state and federal tax returns for the past three yearsor 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 anymaterial particulars regarding a transaction to which the applicant is aparty;
(11) Will disburse funds in accordance with the applicant'sagreements through a licensed and bonded disbursing agent or licensed realestate broker;
(12) Has not committed any crime against the laws of this state, orany other state or of the United States, involving moral turpitude,fraudulent or dishonest dealings and that no final judgment has beenentered against the applicant in a civil action on grounds of fraud,misrepresentation or deceit which has not been previously reported to thedirector;
(13) Will account for and deliver to any person any property asagreed or required by law, or, upon demand of the person entitled to suchaccounting and delivery;
(14) Has not engaged in any conduct which would be cause for denialof a license;
(15) Has not become insolvent;
(16) Has not submitted an application which contains a materialmisstatement;
(17) Has not demonstrated negligence or incompetence in theperformance of any activity required to hold a license under sections443.701 to 443.893;
(18) Will advise the director in writing of any changes to theinformation submitted on the most recent application for license withinforty-five days of such change. The written notice must be signed in thesame 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 requiredby sections 443.701 to 443.893;
(21) Will advise the director in writing of any judgments enteredagainst, and bankruptcy petitions by, the license applicant within fivedays 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 amortgage loan originator does so in compliance with sections 443.701 to443.893, and will promptly report any detected violations or apparentviolations to the director within thirty days of detection.
Applicant for license must agree to maintain certain requirements asto methods of conducting business.
443.827. Each application for a residential mortgage loan brokerlicense shall be accompanied by an averment that the applicant:
(1) Will maintain at least one full-service office within the stateof Missouri as provided in section 443.857;
(2) Will maintain staff reasonably adequate to meet the requirementsof section 443.857;
(3) Will keep for thirty-six months the same written records asrequired by the federal Equal Credit Opportunity Act, 15 U.S.C. 1691, etseq., and any other information required by rules of the director;
(4) Will timely file any report required pursuant to sections 443.701to 443.893;
(5) Will not engage, whether as principal or agent, in the practiceof rejecting residential mortgage applications or varying terms orapplication procedures without reasonable cause, on real estate within anyspecific geographic area from the terms or procedures generally provided bythe residential mortgage loan broker within other geographic areas of thestate;
(6) Will not engage in fraudulent home mortgage underwritingpractices;
(7) Will not make payments for the purpose of improperly influencingthe independent judgment of an appraiser;
(8) Has filed state and federal tax returns for the past three yearsor 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 anymaterial particulars regarding a transaction to which the applicant is aparty;
(11) Will disburse funds in accordance with the applicant'sagreements through a licensed and bonded disbursing agent or licensed realestate broker;
(12) Has not committed any crime against the laws of this state, orany other state or of the United States, involving moral turpitude,fraudulent or dishonest dealings and that no final judgment has beenentered against the applicant in a civil action on grounds of fraud,misrepresentation or deceit which has not been previously reported to thedirector;
(13) Will account for and deliver to any person any property asagreed or required by law, or, upon demand of the person entitled to suchaccounting and delivery;
(14) Has not engaged in any conduct which would be cause for denialof a license;
(15) Has not become insolvent;
(16) Has not submitted an application which contains a materialmisstatement;
(17) Has not demonstrated negligence or incompetence in theperformance of any activity required to hold a license under sections443.701 to 443.893;
(18) Will advise the director in writing of any changes to theinformation submitted on the most recent application for license withinforty-five days of such change. The written notice must be signed in thesame 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 requiredby sections 443.701 to 443.893;
(21) Will advise the director in writing of any judgments enteredagainst, and bankruptcy petitions by, the license applicant within fivedays 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 amortgage loan originator does so in compliance with sections 443.701 to443.893, and will promptly report any detected violations or apparentviolations to the director within thirty days of detection.
Applicant for license must agree to maintain certain requirements asto methods of conducting business.
443.827. Each application for a residential mortgage loan brokerlicense shall be accompanied by an averment that the applicant:
(1) Will maintain at least one full-service office within the stateof Missouri as provided in section 443.857;
(2) Will maintain staff reasonably adequate to meet the requirementsof section 443.857;
(3) Will keep for thirty-six months the same written records asrequired by the federal Equal Credit Opportunity Act, 15 U.S.C. 1691, etseq., and any other information required by rules of the director;
(4) Will timely file any report required pursuant to sections 443.701to 443.893;
(5) Will not engage, whether as principal or agent, in the practiceof rejecting residential mortgage applications or varying terms orapplication procedures without reasonable cause, on real estate within anyspecific geographic area from the terms or procedures generally provided bythe residential mortgage loan broker within other geographic areas of thestate;
(6) Will not engage in fraudulent home mortgage underwritingpractices;
(7) Will not make payments for the purpose of improperly influencingthe independent judgment of an appraiser;
(8) Has filed state and federal tax returns for the past three yearsor 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 anymaterial particulars regarding a transaction to which the applicant is aparty;
(11) Will disburse funds in accordance with the applicant'sagreements through a licensed and bonded disbursing agent or licensed realestate broker;
(12) Has not committed any crime against the laws of this state, orany other state or of the United States, involving moral turpitude,fraudulent or dishonest dealings and that no final judgment has beenentered against the applicant in a civil action on grounds of fraud,misrepresentation or deceit which has not been previously reported to thedirector;
(13) Will account for and deliver to any person any property asagreed or required by law, or, upon demand of the person entitled to suchaccounting and delivery;
(14) Has not engaged in any conduct which would be cause for denialof a license;
(15) Has not become insolvent;
(16) Has not submitted an application which contains a materialmisstatement;
(17) Has not demonstrated negligence or incompetence in theperformance of any activity required to hold a license under sections443.701 to 443.893;
(18) Will advise the director in writing of any changes to theinformation submitted on the most recent application for license withinforty-five days of such change. The written notice must be signed in thesame 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 requiredby sections 443.701 to 443.893;
(21) Will advise the director in writing of any judgments enteredagainst, and bankruptcy petitions by, the license applicant within fivedays 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 amortgage loan originator does so in compliance with sections 443.701 to443.893, and will promptly report any detected violations or apparentviolations to the director within thirty days of detection.
