24-5-23.5-6. “Real Estate Transaction”
Sec. 6. As used in this chapter, “real estate transaction” means a transaction that involves one (1) or both of the following: (1) The sale or lease of any legal or equitable interest in real estate located in Indiana. (2) The making, refinancing, or consolidation of a mortgage loan. As added by P.L.52-2009, SEC.2.
24-5-23.6-4. “Dwelling”
Sec. 4. As used in this chapter, “dwelling” means a residential structure that is located in Indiana and that contains one (1) to four (4) units, regardless of whether the structure is permanently attached to real property. The term includes an individual: (1) condominium unit; (2) cooperative unit; (3) mobile home; or (4) trailer; that […]
24-5-23.5-7. Prohibition Against Corrupting or Improperly Influencing a Real Estate Appraiser or an Appraisal
Sec. 7. A person shall not corrupt or improperly influence, or attempt to corrupt or improperly influence: (1) the independent judgment of a real estate appraiser with respect to the value of the real estate that is the subject of a real estate transaction; or (2) the development, reporting, result, or review of an appraisal […]
24-5-23.6-5. “Five Star Mortgage Lender”
Sec. 5. As used in this chapter, “five star mortgage lender” means a creditor that: (1) offers at least one (1) mortgage product that qualifies as a five star mortgage under the program; and (2) has a current and accurate certification on file with the department, as described in section 9(a)(3) of this chapter. As […]
24-5-23.5-8. Creditor’s Duty to Provide Notice Concerning Homeowner Protection Unit’s Contact Information and Borrower’s Right to Inspect Settlement Statement Before Closing; Unit to Prescribe Form of Notice; Promotion of Unit’s Contact Information; Information Sharing; Exemption From Liability for Disclosing Suspected Violation; Report to Legislative Council of Complaints Received
Sec. 8. (a) This subsection applies with respect to a completed application for a mortgage loan that is received by a creditor after December 31, 2009. A creditor shall, not later than three (3) business days after receiving a completed written application for a mortgage loan from a borrower or prospective borrower, provide to the […]
24-5-23.6-6. “Indiana Customer”
Sec. 6. As used in this chapter, “Indiana customer”, with respect to a mortgage offered by a creditor, means an individual who: (1) is an Indiana resident at the time the mortgage is offered by the creditor; or (2) would become an Indiana resident after purchasing and occupying the dwelling that is the subject of […]
24-5-23.5-9. Violation a Class a Misdemeanor and a Deceptive Act; Action for Injunctive Relief by Attorney General; Civil Penalty; Cumulative Enforcement Procedures
Sec. 9. (a) A person that knowingly or intentionally violates section 7 of this chapter commits: (1) a Class A misdemeanor; and (2) an act that is: (A) actionable by the attorney general under IC 24-5-0.5; and (B) subject to the penalties listed in IC 24-5-0.5. (b) The attorney general may maintain an action in […]
24-5-23.6-7. “Mortgage”
Sec. 7. (a) As used in this chapter, “mortgage” means a sale or loan, or the refinancing or consolidation of a sale or loan, in which a first mortgage deed of (or another equivalent consensual security interest) that constitutes a first lien, is created or retained against land that is located in Indiana and upon […]
24-5-23.6-8. “Program”
Sec. 8. As used in this chapter, “program” refers to the five star mortgage program established by section 9 of this chapter. As added by P.L.115-2010, SEC.20.
24-5-23.5-1. “Appraisal”
Sec. 1. (a) As used in this chapter, “appraisal” means an estimation that: (1) represents the final opinion of the value of real property that is the subject of a real estate transaction; and (2) serves as the basis for the extension of credit, in the case of a real estate transaction involving the making, […]