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SB 422 - Under this act, any residential mortgage loan broker licensed in this state, who primarily makes in loans on manufactured or modular homes, is not required to maintain a full-service office in this state. Such brokers are required to file an irrevocable consent which provides that for suits and actions commenced against the broker, the venue shall lie in Missouri. Reasonable costs may be assessed for any investigation incurred by the Division of Finance outside the scope of annual or special investigations as a result of the broker not maintaining a full-service office in Missouri. This act is substantially similar to HB 746 (2017). SCOTT SVAGERA
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