Section 443.885

Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY

Chapter 443

Effective - 08 Jul 2009, see footnote   

  443.885.  Report to be filed with director annually, contents. — On or before March first of each year, each residential mortgage loan broker, except exempt persons shall file a report with the director which shall disclose the following information with respect to the immediately preceding calendar year:

  (1)  A list of home mortgages granted, issued, originated or closed during the report period, with respect to which such licensee has had any connection.  The list shall show for each census tract, in regions where such census tracts have been established and by zip code in all other regions, the number and aggregate dollar amount of applications for and the number granted and aggregate dollar amount of:

  (a)  Conventional mortgage loans;

  (b)  Mortgage loans insured under the National Housing Act, 12 U.S.C. 1701, et seq.; and

  (c)  Mortgage loans guaranteed under the provisions of the Federal Veterans' Benefits Act, 38 U.S.C. 3710, et seq.;

  (2)  List by zip code in those areas having no census tract:

  (a)  The total number of home mortgages on real estate situated in this state with respect to which the licensee has had any connection and which are in default on the last day of the reporting period; and

  (b)  The total number of claims paid during the reporting period on home mortgages with respect to which the licensee has had any connection, including the date of the first default thereon and the date each such foreclosure proceeding was instituted;

  (3)  If the director finds that another report that the licensee is required to compile is equivalent to the annual report of mortgage activity, then the director may accept such report as fulfilling the reporting requirements of this section;

  (4)  The director may also require by rule that licensees report such additional information as is necessary to assure compliance with the provisions of sections 443.701 to 443.893.

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(L. 1994 S.B. 718 § 30, A.L. 1995 H.B. 63, et al., A.L. 2009 H.B. 382)

Effective 7-08-09