Missouri is one of the 14 states using a "deed of trust" (or "trust deed") as a mortgage under which title is technically given to a 'trustee' to hold for the lender (called a 'beneficiary').

The mortgages in Missouri are regulated by Missouri Revised Statutes, Chapter 443. The federal statutory law contained in Title 11 of the United States Code is primarily concerned with bankruptcy in Missouri. The law provides for the setting up of a bankruptcy plan permitting a debtor to resolve the debts through the division of the assets possessed by the debtor among the debtor's creditors.

In the state both judicial and non-judicial foreclosures are available. The foreclosures in the state can take place both in-court and out-of-court. However, court foreclosures are less common. Out-of-court foreclosures may get completed in even two months. Borrowers have right of redemption but deficiency judgments are not allowed. The right to redemption is applicable only in case the buyer at the sale was the lender and not if the buyer was anyone else.

Mortgage Broker Licensing in Missouri State is regulated by the Missouri State Division of Finance. The complaints regarding mortgage bankers, debt collection, credit bureaus, premium finance companies and state chartered banks are handled by the Missouri Division of Finance.

Sections 443.800 to 443.893 of the Missouri Revised Statutes lay down that no person (except those entities exempted by law) shall engage in the business of brokering, funding, originating, servicing or purchasing of residential mortgage loans without prior obtaining of a license from the director.