Effective - 08 Jul 2009
443.735. Investigations and examinations, authority of director. — 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.
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(L. 2009 H.B. 382)
Effective 7-08-09
Structure Missouri Revised Statutes
Title XXIX - Ownership and Conveyance of Property
Chapter 443 - Mortgages, Deeds of Trust and Mortgage Brokers
Section 443.005 - Security instrument defined.
Section 443.020 - Claim of such extension barred, when.
Section 443.030 - Prior acknowledgment of deed of trust deemed valid.
Section 443.060 - Acknowledgment of satisfaction and release, how made.
Section 443.070 - Affidavit required with deed of release, when — penalty for failure.
Section 443.090 - Part of property may be released, how.
Section 443.120 - Penalty for making false affidavit.
Section 443.130 - Liability for failing to satisfy — demand by certified mail required.
Section 443.140 - Attorney in fact may enter satisfaction.
Section 443.150 - Acknowledgment and satisfaction — how made by a corporation.
Section 443.160 - Personal representative may satisfy and deliver deed or release.
Section 443.170 - Penalty for failing to acknowledge satisfaction and deliver deed of release.
Section 443.180 - Sections 443.160 and 443.170 construed.
Section 443.185 - Releases of mortgages or deeds of trust defective — deemed valid, when.
Section 443.190 - Petition to foreclose, where filed.
Section 443.200 - Petition, where filed.
Section 443.210 - Proceedings to be as in civil actions.
Section 443.220 - Who may be made parties.
Section 443.230 - Judgment on constructive notice.
Section 443.240 - Judgment on personal service.
Section 443.250 - Proceedings where mortgagee, secured party, mortgagor or debtor dies.
Section 443.260 - Judgment when personal representative is party defendant.
Section 443.270 - Execution to be a special fieri facias.
Section 443.280 - Title which purchaser acquires.
Section 443.290 - Mortgages and security agreements with power of sale.
Section 443.300 - Death of debtor, foreclosure stayed.
Section 443.310 - Sales, where made — number of days' notice.
Section 443.320 - Notice, contents — how published.
Section 443.330 - Trustee failing to execute trust, parties interested may proceed, how.
Section 443.355 - Continuance of sale by trustee without readvertisement, manner — restrictions.
Section 443.360 - Compensation of trustees under trust deeds.
Section 443.370 - Penalty for overcharging.
Section 443.380 - Recitals in deed prima facie evidence.
Section 443.400 - Redemption before sale.
Section 443.410 - Foreclosures by trustee's sale — how made — redemption.
Section 443.415 - Mortgage may be insured for certain buyers, amount, requirements.
Section 443.420 - Notice of redemption — how given, rights.
Section 443.430 - Motion for approval of bond for redemption — hearing — receiver — additional bond.
Section 443.440 - Certificate of sale — upon failure to redeem, deed to be executed.
Section 443.453 - Financial institutions to pay property tax, how.
Section 443.454 - Enforcement and servicing of real estate loans, federal and state law preemption.
Section 443.701 - Citation of law.
Section 443.703 - Definitions.
Section 443.706 - Licensure required, when — effective date — exemptions.
Section 443.707 - Loan processors and underwriters, license required.
Section 443.709 - Rulemaking authority — expedited review and licensing procedures permitted, when.
Section 443.713 - Findings required for licensure.
Section 443.717 - Prelicensing education requirements.
Section 443.719 - Written test required, test measures — minimum competency requirements.
Section 443.721 - Renewal of licensure, minimum standards.
Section 443.723 - Continuing education requirements.
Section 443.725 - Duties of director — rule requirements authorized.
Section 443.727 - Challenge of information in NMLSR.
Section 443.729 - Supervision and enforcement — civil penalty.
Section 443.731 - Surety bond requirements.
Section 443.733 - Supervisory information sharing — confidentiality requirements.
Section 443.735 - Investigations and examinations, authority of director.
Section 443.739 - Reports of condition required.
Section 443.741 - Violations, director required to report.
Section 443.745 - Unique identifier to be shown on applications, solicitations, or advertisements.
Section 443.747 - Severability clause — rulemaking authority.
Section 443.805 - License required to broker residential mortgage.
Section 443.807 - Director, power to request injunction, when.
Section 443.809 - Examination, powers of director to inspect records of licensed persons.
Section 443.810 - Penalty for violations.
Section 443.823 - Licenses to be issued in duplicate, effective when.
Section 443.825 - Application content, oath and form — fingerprinting, when.
Section 443.830 - License refused — grounds.
Section 443.841 - License to be displayed.
Section 443.849 - Bonding requirements.
Section 443.855 - Advertising of mortgage loans, rulemaking authority.
Section 443.863 - Unlawful discrimination for refusal to loan or vary terms of the loan.
Section 443.865 - Escrow accounts, placement by brokers — authority for rules.
Section 443.867 - Disclosure statement required of brokers, content — fee — compensation.
Section 443.869 - Powers and duties of director — rulemaking authority.
Section 443.875 - Bond may be required, conditioned on compliance with subpoena, when.
Section 443.877 - Writ of attachment authorized on failure to comply with subpoena.
Section 443.879 - Reports required, failure to comply, penalty.
Section 443.881 - Suspension or revocation of license, grounds — procedure, penalties.
Section 443.885 - Report to be filed with director annually, contents.
Section 443.887 - General rulemaking powers of director.
Section 443.893 - Receiver or conservator to be appointed by court, when — attorney general's duty.
Section 443.901 - Reverse mortgage act — definitions.
Section 443.903 - Reverse mortgage regulations.
Section 443.906 - Reverse mortgage may be made regardless of certain other transactions.
Section 443.909 - Treatment of payments for certain purposes.
Section 443.912 - Statement regarding counseling services on reverse mortgages.
Section 443.930 - Prohibited acts — constitutes mortgage fraud — no private right of action created.
Section 443.1001 - Citation of law.
Section 443.1003 - Definitions.
Section 443.1006 - Annual reporting, forms — rulemaking authority.
Section 443.1007 - Financial institutions, actions not responsible or liable for.