Missouri § 408.585 Limitation on requirements of sections 408.570 to 408.600.

Missouri Statutes

§ 408.585 — Limitation on requirements of sections 408.570 to 408.600.

Missouri § 408.585

Title XXVITRADE AND COMMERCE

Ch. 408Legal Tender and Interest

This text of Missouri § 408.585 (Limitation on requirements of sections 408.570 to 408.600.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 408.585 (2026).

Text

1. No provision of sections 408.570 to 408.600 shall be construed to require any financial institution to make any residential real estate loan contrary to sound underwriting practices which shall include but not be limited to the following:

(1)The credit worthiness of the applicant; and

(2)The market value of the residential real estate proposed as security for the loans. 2. A financial institution may employ different loan application procedures for loans to purchase or construct new dwellings as opposed to the purchase of previously occupied dwellings.

Free access — add to your briefcase to read the full text and ask questions with AI

1. No provision of sections 408.570 to 408.600 shall be construed to require any financial institution to make any residential real estate loan contrary to sound underwriting practices which shall include but not be limited to the following:

(1) The credit worthiness of the applicant; and

(2) The market value of the residential real estate proposed as security for the loans.

2. A financial institution may employ different loan application procedures for loans to purchase or construct new dwellings as opposed to the purchase of previously occupied dwellings.