Missouri Revised Statutes Title XXIX. Ownership and Conveyance of Property § 443.901. Reverse mortgage act--definitions

(1)“Authorized lender” or “lender”, a lender authorized to engage in business as a bank, savings institution or credit union under the laws of the United States or this state, residential mortgage licensee who is licensed pursuant to sections 443.800 to 443.893 or entity that is an exempt entity pursuant to sections 443.800 to 443.893;

(2)“Brokered”, the act of helping to obtain for an investor or other entity, or from an investor or other entity, for a borrower, a residential mortgage loan, including a reverse mortgage loan;

(3)“Originated”, advertised, solicited, processed, for which a loan application is taken, or which is closed, committed for, or funded;

(4)“Principal” as it relates to reverse mortgages, the total of the net amount paid to, receivable by, contracted for, or paid, or payable, for the account of the borrower, and to the extent payment is deferred, additional charges permitted by sections 443.901 to 443.912;

(5)“Reverse mortgage loan”, a loan originated, made or brokered by an authorized lender which: