Mortgage insurers may insure a mortgage in an amount not exceeding one hundred three percent of the fair market value of the authorized real estate security at the time that the loan is made if secured by a first lien or charge on such real estate security.
Mo. Rev. Stat. § 443.415
Mortgage may be insured for certain buyers, amount, requirements
Known as the Missouri Secure and Fair Enforcement for Mortgage Licensing Act
The act spans §§ 443–443 (128 sections).
Effective: 28 Aug 2002, 2 histories; (L. 1994 H.B. 1449 § 1 merged with S.B. 718 § 35, A.L. 1998 H.B. 1794 merged with S.B. 719, A.L. 2000 H.B. 1802 merged with S.B. 896, A.L. 2…
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.