The director shall not issue a mortgage loan originator license unless the director makes, at a minimum, the following findings:
(1)The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction; except that, a subsequent formal vacation of such revocation shall not be deemed a revocation;
(2)The applicant has not been convicted of or pled guilty or nolo contendere to a felony in a domestic, foreign, or military court:
(a)During the seven-year period preceding the date of the application for licensing and registration; or
(b)At any time preceding such date of application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering; and
(c)Provided that any pardon of a conviction shall not be a convic
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The director shall not issue a mortgage loan originator license unless the director makes, at a minimum, the following findings:
(1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction; except that, a subsequent formal vacation of such revocation shall not be deemed a revocation;
(2) The applicant has not been convicted of or pled guilty or nolo contendere to a felony in a domestic, foreign, or military court:
(a) During the seven-year period preceding the date of the application for licensing and registration; or
(b) At any time preceding such date of application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering; and
(c) Provided that any pardon of a conviction shall not be a conviction for purposes of this subdivision;
(3) The applicant has demonstrated financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator shall operate honestly, fairly, and efficiently within the purposes of sections 443.701 to 443.893 ;
(a) For purposes of this subdivision, an individual has shown that he or she is not financially responsible when he or she has shown a disregard in the management of his or her own financial condition. A determination that an individual has not shown financial responsibility may include, but not be limited to:
a. Current outstanding judgments, except judgments solely as a result of medical expenses;
b. Current outstanding tax liens or other government liens and filings;
c. Foreclosures within the past three years;
d. A pattern of seriously delinquent accounts within the past three years;
(4) The applicant has completed the prelicensing education requirement described in sections 443.701 to 443.893 ;
(5) The applicant has passed a written test that meets the requirements described in sections 443.701 to 443.893 ;
(6) The applicant or the applicant's employer has met the Missouri surety bond requirement under sections 443.701 to 443.893 .