Article Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of Missouri or anyone looking to become a mortgage broker in Missouri.
The Missouri Division of Finance,
www.missouri-finance.org, handles the licensing and examinations for residential Mortgage Brokers and regulates all companies and various providers of consumer credit which pertain to residential mortgages, including Mortgage Brokers. The same license covers both first and second mortgages.
Applicants who would like to
become a Mortgage Broker in Missouri pay a non-refundable investigation fee of $300 and provide a Surety Bond in the amount of $20,000. Upon approval of the application, a $300 license fee is paid.
Financial statements and full disclosure of any judgments, bankruptcies or criminal activity within the last ten years accompany the application. The Division of Finance then conducts a financial and business responsibility background check.
Mortgage Brokers in Missouri are required to have a physical office within the state.
The Missouri Association of Mortgage Brokers (
MAMB) is an affiliate of the National Association of Mortgage Brokers (NAMB), www.namb.org. These associations are an excellent resource system for those who are
looking to become a Mortgage Broker in Missouri.
We also offer information and resources for Missouri Commercial Mortgage