PURPOSE: This rule establishes guidelines for the licensing of mortgage brokers.

1. (1) Application for Missouri Residential Mortgage Brokers License.

   1. (A) Applications for a license shall be in a form prescribed by the commissioner and shall include a nonrefundable license investigation fee which shall be set by the commissioner from time-to-time, not to exceed five hundred dollars ($500).
   2. (B) Failure to meet a request for additional information within ten (10) business days may result in denial of the application. A denial under such circumstances shall not affect subsequent applications filed with the appropriate investigation fee.

2. (2) Initial and Renewal Missouri Residential Mortgage Brokers Licenses.

   1. (A) Upon approval of an initial brokers license, the commissioner shall collect a nonrefundable license fee, which shall be set by the commissioner from time-to-time, not to exceed one thousand dollars ($1,000).
   2. (B) Applications for renewal of a license shall be in a form prescribed by the commissioner. Such completed renewal application shall be received by the commissioner at least sixty (60) days prior to such licensee’s biennial renewal date. Upon approval of a biennial renewal of a brokers license, the com- 20 CSR 1140-30

missioner shall collect a nonrefundable renewal license fee, which shall be set from time-to-time by the commissioner, not to exceed two thousand dollars ($2,000), half upon issuance of the license, and the balance one (1) year thereafter.

1. (3) Amended License Fees—Corporate Changes. The commissioner shall collect an amended license fee not to exceed five hundred dollars ($500) for each amended license required by 4 CSR 140-30.040 and for each notice of change of officers or directors or change of name or address, a fee of fifty dollars ($50).
2. (4) Duplicate Original License Fees. The commissioner shall collect a duplicate original license fee of fifty dollars ($50) for each duplicate original license issued.
3. (5) Additional Full Service Office. Each licensee which intends to operate and maintain an additional full service office, shall file a Notice of Intent to Establish an Additional Full Service Office, on a form prescribed by the commissioner, thirty (30) days prior to the proposed operation; the commissioner shall collect a fee of ten dollars ($10) at the time the notice is filed.
4. (6) Waiver of License Fee. Applicants which intend to request a waiver of fees per section 443.837, RSMo shall file such request at least sixty (60) days prior to the licensing or renewal date.

AUTHORITY: sections 443.847, 443.869(7) and 443.887, RSMo Supp. 1996.* This rule originally filed as 4 CSR 140-30.030. Emergency rule filed Nov. 25, 1996, effective Dec. 5, 1996, expired June 2, 1997. Original rule filed Nov. 25, 1996, effective May 30, 1997. Moved to 20 CSR 1140- 30.030, effective Aug. 28, 2006. *Original authority: 443.847, RSMo 1994, amended 1995; 443.869(7), RSMo 1994, amended 1995; and 443.887, RSMo 1994, amended 1995. FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance