§ 443.713

Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY Chapter 443 • Effective - 08 Jul 2009, see footnote 443.713. Findings required for licensure. — The director shall not issue a mortgage loan originator license unless the director makes, at a minimum, the following findings: (1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction; 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

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

he 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