Effective - 08 Jul 2009, 2 histories
443.891. Charge in support of removal or prohibition notice issued on certain findings of conduct. — 1. Upon making any one or more of the following preliminary findings, the director may issue a notice of charges against a licensee in support of an order imposing a fine, requiring restitution or forfeiture, suspending or revoking a license, or an order of removal and prohibition, which order may remove and prohibit a named person from participating in loan brokering, mortgage brokering or mortgage brokerage service for any loan secured by real estate whether in the affairs of an exempt person or in the affairs of* any licensees under sections 443.701 to 443.893, or in the affairs of any depository** institution under the jurisdiction of the director. An order of removal or of prohibition may be permanent or for a specific term and may impose additional conditions including requiring restitution and imposition of a civil penalty not exceeding twenty-five thousand dollars per occurrence. The findings required by this section may be any one or more of the following:
(1) A finding that the person subject to the order has been convicted of a crime involving material financial loss to a licensee, a depository institution, a government-sponsored enterprise, a Federal Home Loan Bank, a Federal Reserve Bank or any other person;
(2) A finding that the person subject to the order has, in connection with the application for or procurement of a loan secured by real estate, made any material misstatement, misrepresentation, or omission. As used in this section, "material" means important information about which the director or board should be informed and which may influence a licensing or lending decision;
(3) A finding that the person subject to the order has pleaded guilty to, entered a plea of nolo contendere to, or been found guilty of mortgage fraud as defined in section 570.310;
(4) A finding that the person subject to the order has violated any provision of sections 443.701 to 443.893.
2. If a hearing is requested, the director or his or her designee shall conduct a hearing under chapter 536.
3. If the respondent defaults, consents to an order under this section, or if upon the record the director finds the grounds specified supporting an order, the director may issue such an order including conditions for restitution or for a civil penalty not to exceed twenty-five thousand dollars to be effective thirty days after service and to remain in effect and enforceable except to the extent it is stayed, modified, terminated or set aside by action of the director or a reviewing court.
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(L. 1994 S.B. 718 § 33, A.L. 1995 H.B. 63, et al., A.L. 2008 H.B. 2188, A.L. 2009 H.B. 382)
Effective 7-08-09
*Word "of" does not appear in original rolls.
**Word "depositary" appears in original rolls.
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.