Mortgage Loan Originators (Individuals)

House Bill 382 (SAFE Act), signed by Gov. Jay Nixon in 2009, required mortgage loan originators to be licensed by July 31, 2010. All originators, except originators with depository institutions, shall be licensed with the Division of Finance. Applications for mortgage originator licensing must be submitted through the Nationwide Mortgage Licensing System.

Veterans reimbursement for licensing exams

Veterans taking a state licensing examination required by the department can be reimbursed for the cost of the exam. Click here to learn more about exam reimbursement for veterans.

Residential Mortgage Loan Brokers (Companies)

HB 382 changed licensing company requirements considerably. Links to new and renewal license application forms are at the bottom. Please contact us at 573-751-4243 with questions. Requirements for company licensure:

  • In-state, full-service, staffed Missouri office that is open to the general public
  • Minimum $50,000 Missouri Residential Mortgage Loan Broker Bond (Subject to change – section 443.849.2 requires a bond to be maintained in an amount of no less than $50,000 and no more than $1,000,000 based on volume of activity as determined by the director. See the surety bond schedule.)
  • Must have mortgage broker or lender experience
  • Background criminal and credit investigations are required on all directors, members, owners, partners, proprietors and anyone else who influences the management of the company
  • Pay one-time application/investigation fee of $300 upon submission of application
  • Upon license approval, pay annual license fee – presently the license fee is $600

Residential Mortgage Loan Brokers - License Exemptions

In the past, exemption letters were issued for residential mortgage loan brokers supervised by agencies of the federal government. The 2009 legislation eliminated those exemptions. Now, all residential mortgage loan brokers, even if previously exempt, need to be licensed to do business in Missouri. Exemptions from licensing are now limited to residential mortgage loan brokers engaged solely in commercial mortgage lending, and depository institutions or a subsidiary or service corporation thereof (must be regulated by a federal banking regulator). An application for licensure should be submitted to this office immediately.

Forms