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Missouri Mortgage Broker License: Step-by-Step Guide

In the state of Missouri, companies engaged in residential mortgage loan brokering and servicing are required to obtain a license at the state level. All mortgage licenses are regulated and issued by the Missouri Division of Finance.

The application process is handled by the Nationwide Mortgage Licensing System (NMLS). NMLS allows mortgage companies and individuals to apply, update, or renew a license online.

Types of Mortgage Licenses in Missouri

In Missouri, there are three major state license types: Company, Branch, and Individual. Each license type depends on the work you are going to perform. There are two separate mortgage loan broker licenses, depending on the location of your company’s headquarters.

In this guide, we’ll cover the most common licenses only. You can review the full list on the NMLS website.

Most Common Company Licenses

  • Residential Mortgage Loan Broker License (Company License) - allows entities and sole proprietorships to purchase, service, funds and broker residential mortgage loans. Note that this license is required of companies whose headquarters are located within the state or are primarily engaged in the residential loan servicing business in Missouri.
  • Residential Mortgage Loan Broker Registration (Company Registration) - allows companies and sole proprietorships, whose headquarters are located outside of MO, to service, fund, purchase, and broker residential mortgage loans.

Missouri State Requirements

All license applications need to be submitted online via NMLS. Note, that some agency-specific requirements, such as the original bond, must mailed directly to the MO Division of Finance. Please mail your documents to one of the following addresses:

  • For U.S. Postal Service: Missouri Division of Finance, Mortgage Licensing Section, PO Box 716, Jefferson City, Missouri 65102-07-16.
  • For overnight delivery: Missouri Division of Finance, Mortgage Licensing Section, 301 W High Street, Room 630, Jefferson City, Missouri 65101.

For assistance with the license requirements, you may contact the Division at (573) 751-4243 or by email at [email protected] or [email protected].

For NMLS-related questions, you may contact their call center at (855) 665-7123.

Education and Exams

Passing an exam is obligatory for some, but not all licenses. To obtain a Missouri Mortgage Loan Broker license or registration, you are not required to complete a course or pass a test.

MO Mortgage Broker Bonds

Bonds for Company Licenses

  • Residential Mortgage Loan Broker License - Loan Broker license applicants are required to mail an original $50,000 surety bond to the MO Division of Finance . After the first year, the bond amount may change depending on the applicant’s previous year activity. The amount is determined by the volume of loans brokered, or serviced and funded, and can range between $50,000 and $500,000. For further information on how the bond amount is calculated you may visit the Division’s website.
  • Residential Mortgage Loan Broker Registration - All registration applicants must mail an original surety bond in the amount of $50,000 to the MO Division of Finance.

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Licensing Fees

All fees are non-refundable must be submitted via NMLS.

Fees for Company Licenses

  • Residential Mortgage Loan Broker License
    • $600 license fee.
    • $300 MO investigation fee.
    • $100 NMLS processing fee.
    • $15 credit report fee (if required).
    • $36.26 background check fee.
  • Residential Mortgage Loan Broker Registration
    • $600 license fee.
    • $300 MO investigation fee.
    • $100 NMLS processing fee.
    • $15 credit report fee (if required).
    • $36.26 background check fee.

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