Missouri Laws 443.865 – Escrow accounts, placement by brokers — authority for rules
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 443.865
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
The director may promulgate rules with respect to placement in escrow accounts by any residential mortgage loan broker of any money, funds, deposits, checks or drafts entrusted to the residential mortgage loan broker.