Missouri Mortgage Loan Originator License

Missouri Mortgage Education

EasyRealEstateSchool.com offers these Missouri mortgage education courses in conjunction with MortgageEducation.com. All the mortgage education courses are NMLS-approved and will satisfy all the required education hours for your state. Should you have any questions please feel free to contact MortgageEducation.com.

Missouri Mortgage Loan Originator License

Who is required to have this license?

Any individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application, or offers or negotiates terms of a residential mortgage loan.

Who does not need this license?

  • Registered mortgage loan originators when employed and acting under subdivision (34) of subsection 1 of Section 443.703 RSMo.
  • Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual.
  • Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual’s residence.
  • A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.

Pre-requisites for license applications?

  • Must be employed and acting under the supervision of a single Missouri licensed residential mortgage loan broker.
  • Shall be covered by the surety bond for the Missouri licensed residential mortgage loan broker supervising the mortgage loan originator and for whom the mortgage loan originator acts as an employee or exclusive agent.
  • Subject to criminal background check at federal and state levels.
  • Must demonstrate financial responsibility as determined by a credit history review.
  • Must pass the National and Missouri MLO Tests before a license is issued. Note: applicants who obtain a license before July 31, 2010, will not be required to pass the Missouri MLO Test until applying for a renewal license for 2011.
  • Must complete 20 hours of NMLS approved education before a license will be issued. Must complete eight hours of continuing education each year thereafter.

For more information about the actual course please visit Mortgage Education Course FAQ’s.

Missouri Mortgage Loan Originator License

 


Missouri State Requirments

SAFE ACT Requirements

  • SAFE MLO Test – All new applicants on or after 07/31/2010 must pass the National and State Components of the SAFE MLO Test.
  • Criminal Background Check – All new applicants must submit fingerprints through NMLS for a national criminal background check.
  • Credit Report – All new applicants will be required to authorize a credit report through NMLS.

Missouri Mortgage Education Requirements

  • SAFE Act Pre-License (Required courses – SAFE CORE 8 hours) –
  • SAFE Act Continuing Education (Required courses – SAFE CORE 7 hours) –

For more information about the actual course please visit Mortgage Education Course FAQ’s.

Missouri Mortgage Loan Originator License