443.713. Findings required for licensure.
Findings required for licensure.
443.713. The director shall not issue a mortgage loan originatorlicense unless the director makes, at a minimum, the following findings:
(1) The applicant has never had a mortgage loan originator licenserevoked in any governmental jurisdiction; except that, a subsequent formalvacation of such revocation shall not be deemed a revocation;
(2) The applicant has not been convicted of or pled guilty or nolocontendere to a felony in a domestic, foreign, or military court:
(a) During the seven-year period preceding the date of theapplication for licensing and registration; or
(b) At any time preceding such date of application, if such felonyinvolved an act of fraud, dishonesty, or a breach of trust, or moneylaundering; and
(c) Provided that any pardon of a conviction shall not be aconviction for purposes of this subdivision;
(3) The applicant has demonstrated financial responsibility,character, and general fitness such as to command the confidence of thecommunity and to warrant a determination that the mortgage loan originatorshall operate honestly, fairly, and efficiently within the purposes ofsections 443.701 to 443.893;
(a) For purposes of this subdivision, an individual has shown that heor she is not financially responsible when he or she has shown a disregardin the management of his or her own financial condition. A determinationthat an individual has not shown financial responsibility may include, butnot be limited to:
a. Current outstanding judgments, except judgments solely as a resultof medical expenses;
b. Current outstanding tax liens or other government liens andfilings;
c. Foreclosures within the past three years;
d. A pattern of seriously delinquent accounts within the past threeyears;
(4) The applicant has completed the prelicensing educationrequirement described in sections 443.701 to 443.893;
(5) The applicant has passed a written test that meets therequirements described in sections 443.701 to 443.893;
(6) The applicant or the applicant's employer has met the Missourisurety bond requirement under sections 443.701 to 443.893.
(L. 2009 H.B. 382)Effective 7-08-09