Residential Mortgage Board

PO Box 716
Jefferson City, MO 65102

Phone: (573)-751-3242
Fax: (573)-751-9192

Email: Connie.Street@dof.mo.gov
Website: http://finance.mo.gov/

Details on Board or Commission

Authority: RSMo 443.816

Department: Insurance, Financial Institutions and Professional Registration

Mission:

Function: The Residential Mortgage Board approves or disapproves regulations proposed by the Commissioner of Finance with respect to mortgage brokering and hear and determine any appeal from a denial or revocation of a mortgage broker license or decision of the Commissioner pertaining to mortgage brokering.

SubCommittees: none

Details on Meetings

Number of meetings: as needed

Location of meetings: Jefferson City. Pursuant to Section 443.816, the Board may meet at any place in this state.

Duration of meetings: as needed

Preparation time for meetings:

Total time commitment: less than five hours

Details on Members

Total members: 5

Appointed members: 5

Term length: 3 years

Compensation: Members receive a per diem not to exceed $100 for each day devoted to the affairs of the board.

Member Requirements: One member must be an attorney and a member of the Missouri Bar in good standing. Three members must be experienced in mortgage brokering and one must have no financial interest in any mortgage brokering business.

Political Requirements: yes, not more than three members may be members of the same political party

Geographic Requirements: no

Senate Consent Required: No