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Missouri Revised Statutes Title XXIX. Ownership and Conveyance of Property § 443.930. Prohibited acts--constitutes mortgage fraud--no private right of action created

Current as of January 01, 2025 | Updated by Findlaw Staff

1. It is unlawful for a person, in connection with the application for or procurement of a loan secured by real estate to:

(1) Employ a device, scheme, or artifice to defraud;

(2) Make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading;

(3) Receive any portion of the purchase, sale, or loan proceeds, or any other consideration paid or generated in connection with a real estate closing that such person knew involved a violation of this section; or

(4) Influence, through extortion or bribery, the development, reporting, result, or review of a real estate appraisal, except that this subsection does not prohibit a mortgage lender, mortgage broker, mortgage banker, real estate licensee, or other person from asking the appraiser to do one or more of the following:

(a) Consider additional property information;

(b) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or

(c) Correct errors in the appraisal report in compliance with the Uniform Standards of Professional Appraisal Practice.

2. Such acts shall be deemed to constitute mortgage fraud.

3. This section shall not be construed to create a private right of action.

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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIX. Ownership and Conveyance of Property § 443.930. Prohibited acts--constitutes mortgage fraud--no private right of action created - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxix-ownership-and-conveyance-of-property/mo-rev-st-443-930/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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