Missouri Mortgage Licensing

Mortgage Banker or Broker

Mortgage Broker License

Physical In-State Office Required: Yes
Qualifying Individual: Yes
Minimum Net Worth: $25,000
Surety Bond: $50,000

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$155 – Foreign Entity App
$125 – Registered Agent Fee
$300 – Company License Fee
$500 – MO $50k Surety Bond

RE: In-State Office Requirement
The in-state office requirement is flexible. There must be a Missouri office, open to the public with reasonable business hours, phone lines, etc. We believe the law and regulation regarding staffing indicate, eventually, that the staff will need to include a licensed Missouri Mortgage Loan Originator. As to where closing takes place, there are no requirements. We have companies operating out of executive suites and residential locations (if allowed by local zoning). I’m certain closing often occurs elsewhere. We license Missouri locations only, so documents will need to reflect that location and, eventually again, include the identifier of a Missouri loan officer. Our evaluation of whether compliance with the office requirement is met includes evaluation of complaints received, if any.

Hopefully, I have adequately addressed this issue for you. If not, please do not hesitate to contact me for further clarification. If I am following you correctly, I believe you will have no problem with compliance.

Jerry Janes
Supervisor of Mortgage Licensing
Missouri Division of Finance

Regulated by:

Division of Finance

Harry S Truman State Office Building, Room 630
301 W. High St.
P. O. Box 716
Jefferson City, Missouri 65102
Telephone: 573-751-3242
Fax: 573-751-9192