24-4.4-2-101. Short Title
Sec. 101. This chapter shall be known and may be cited as the First Lien Mortgage Lending Act – Miscellaneous. As added by P.L.145-2008, SEC.20.
24-4.4-2-101. Short Title
Sec. 101. This chapter shall be known and may be cited as the First Lien Mortgage Lending Act – Miscellaneous. As added by P.L.145-2008, SEC.20.
24-4.4-2-201. Duty to Provide Payoff Amount; Liability for Failure to Provide; Prepayment Penalty Prohibited for Adjustable Rate Mortgages; Short Sales; Foreclosed Property; No Protection From Deficiency Judgment
Sec. 201. (1) A creditor or mortgage servicer shall provide, in writing, an accurate payoff amount for a first lien mortgage transaction to the debtor not later than seven (7) business days (excluding legal public holidays, Saturdays, and Sundays) after the creditor or mortgage servicer receives the debtor’s written request for the accurate payoff amount. […]
24-4.4-2-201. Duty to Provide Payoff Amount; Liability for Failure to Provide; Prepayment Penalty Prohibited for Adjustable Rate Mortgages; Short Sales; Foreclosed Property; No Protection From Deficiency Judgment
Sec. 201. (1) A creditor or mortgage servicer shall provide, in writing, an accurate payoff amount for a first lien mortgage transaction to the debtor not later than seven (7) business days (excluding legal public holidays, Saturdays, and Sundays) after the creditor or mortgage servicer receives the debtor’s written request for the accurate payoff amount. […]
24-4.4-2-202. Federal Disclosure Requirements; Creditor’s Duty to Comply; Exempt Transactions
Sec. 202. (1) The creditor shall comply with disclosure requirements applicable to first lien mortgage transactions in the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). (2) For purposes of subsection (1), disclosures are not required if the transaction is exempt from the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). As added […]
24-4.4-2-202. Federal Disclosure Requirements; Creditor’s Duty to Comply; Exempt Transactions
Sec. 202. (1) The creditor shall comply with disclosure requirements applicable to first lien mortgage transactions in the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). (2) For purposes of subsection (1), disclosures are not required if the transaction is exempt from the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). As added […]
24-4.4-2-301. Violation of State or Federal Law, Regulation, or Rule; Enforcement
Sec. 301. (1) A violation of a state or federal law, regulation, or rule applicable to first lien mortgage transactions is a violation of this article. (2) The department may enforce penalty provisions set forth in 15 U.S.C. 1640 for violations of disclosure requirements applicable to first lien mortgage transactions. As added by P.L.145-2008, SEC.20.
24-4.4-2-301. Violation of State or Federal Law, Regulation, or Rule; Enforcement
Sec. 301. (1) A violation of a state or federal law, regulation, or rule applicable to first lien mortgage transactions is a violation of this article. (2) The department may enforce penalty provisions set forth in 15 U.S.C. 1640 for violations of disclosure requirements applicable to first lien mortgage transactions. As added by P.L.145-2008, SEC.20.
24-4.4-2-401. License Required; Registration With Nmlsr; Licensed Mortgage Loan Originators; Loan Processor or Underwriting Activities; Applications for Licensure; Director’s Authority to Contract With Nmlsr
Sec. 401. (1) Unless a person subject to this article has first obtained a mortgage license from the department and annually maintains the license, the person shall not engage in Indiana as a creditor in first lien mortgage transactions. A separate mortgage license is required for each legal entity that engages in Indiana as a […]
24-4.4-2-401. License Required; Registration With Nmlsr; Licensed Mortgage Loan Originators; Loan Processor or Underwriting Activities; Applications for Licensure; Director’s Authority to Contract With Nmlsr
Sec. 401. (1) Unless a person subject to this article has first obtained a mortgage license from the department and annually maintains the license, the person shall not engage in Indiana as a creditor in first lien mortgage transactions. A separate mortgage license is required for each legal entity that engages in Indiana as a […]
24-4.4-2-402. Applications for Licenses; Issuance; Evidence of Compliance; Use of Nmlsr; Denial of Application; Right to Hearing; Fees; License Not Assignable or Transferable; Tax Warrant List
Sec. 402. (1) The department shall receive and act on all applications for licenses to engage in first lien mortgage transactions. Applications must be made as prescribed by the director. If, at any time, the information or record contained in: (a) an application filed under this section; or (b) a renewal application filed under section […]
24-4.4-2-402. Applications for Licenses; Issuance; Evidence of Compliance; Use of Nmlsr; Denial of Application; Right to Hearing; Fees; License Not Assignable or Transferable; Tax Warrant List
Sec. 402. (1) The department shall receive and act on all applications for licenses to engage in first lien mortgage transactions. Applications must be made as prescribed by the director. If, at any time, the information or record contained in: (a) an application filed under this section; or (b) a renewal application filed under section […]
24-4.4-2-402.1. National Criminal History Background Check; Fingerprints; Payment of Fees or Costs; Use of Nmlsr
Sec. 402.1. (1) When the director requests a national criminal history background check under section 402(4)(a) of this chapter for an individual described in section 402(2) of this chapter, the director shall require the individual to submit fingerprints to the department, state police department, or NMLSR, as directed, at the time evidence of compliance is […]
24-4.4-2-402.1. National Criminal History Background Check; Fingerprints; Payment of Fees or Costs; Use of Nmlsr
Sec. 402.1. (1) When the director requests a national criminal history background check under section 402(4)(a) of this chapter for an individual described in section 402(2) of this chapter, the director shall require the individual to submit fingerprints to the department, state police department, or NMLSR, as directed, at the time evidence of compliance is […]
24-4.4-2-402.2. Credit Reports; Payment of Fees or Costs; Demonstrated Financial Responsibility; Considerations
Sec. 402.2. (1) If the director requests a credit report for an individual described in section 402(2) of this chapter, the individual to whom the request is made shall pay any fees or costs associated with procuring the report. (2) The individual must submit personal history and experience information in a form prescribed by the […]
24-4.4-2-402.2. Credit Reports; Payment of Fees or Costs; Demonstrated Financial Responsibility; Considerations
Sec. 402.2. (1) If the director requests a credit report for an individual described in section 402(2) of this chapter, the individual to whom the request is made shall pay any fees or costs associated with procuring the report. (2) The individual must submit personal history and experience information in a form prescribed by the […]
24-4.4-2-402.3. Surety Bond; Requirements; Amount; Termination; Liability; Notices
Sec. 402.3. (1) Each: (a) creditor; and (b) person that is exempt (either under this article or under IC 24-4.5) from licensing to engage in mortgage loans and that: (i) employs a licensed mortgage loan originator; or (ii) sponsors under an exclusive written agreement, as permitted by IC 24-4.4-1-202(b)(6)(a), a licensed mortgage loan originator as […]
24-4.4-2-402.3. Surety Bond; Requirements; Amount; Termination; Liability; Notices
Sec. 402.3. (1) Each: (a) creditor; and (b) person that is exempt (either under this article or under IC 24-4.5) from licensing to engage in mortgage loans and that: (i) employs a licensed mortgage loan originator; or (ii) sponsors under an exclusive written agreement, as permitted by IC 24-4.4-1-202(b)(6)(a), a licensed mortgage loan originator as […]
24-4.4-2-402.4. Use of Nmlsr in Department’s Licensing System; Reporting of Information to Nmlsr; Confidentiality; Director’s Authority to Enter Agreements; Waiver of Privilege; Processing Fee; Electronic Records
Sec. 402.4. (1) Subject to subsection (6), the director shall designate the NMLSR to serve as the sole entity responsible for: (a) processing applications and renewals for mortgage licenses; (b) issuing unique identifiers for licensees and entities exempt from licensing that employ a licensed mortgage loan originator under this article; and (c) performing other services […]
24-4.4-2-402.4. Use of Nmlsr in Department’s Licensing System; Reporting of Information to Nmlsr; Confidentiality; Director’s Authority to Enter Agreements; Waiver of Privilege; Processing Fee; Electronic Records
Sec. 402.4. (1) Subject to subsection (6), the director shall designate the NMLSR to serve as the sole entity responsible for: (a) processing applications and renewals for mortgage licenses; (b) issuing unique identifiers for licensees and entities exempt from licensing that employ a licensed mortgage loan originator under this article; and (c) performing other services […]