MO HB1309

Exempts mortgage brokers making loans on manufactured or modular homes from the one-percent origination fee cap, allowing them to charge additional points and fees beyond what is permitted for standard residential real estate loans.

Modifies residential mortgage loan broker licensing requirements to allow brokers making loans on manufactured or modular homes to operate without maintaining a full-service office in Missouri, provided they obtain state licensure and a certificate of authority to transact business.

Requires brokers operating without a Missouri office to file irrevocable consent to venue in Missouri courts for any lawsuits or actions against them.

Authorizes the director to assess reasonable investigation costs and other expenses incurred by the division against brokers not maintaining a full-service office in Missouri.

Retains existing requirements for brokers to register all office locations, report licensed mortgage loan originators employed under their supervision, and comply with residential mortgage loan regulations.