Indiana Code 23-2.5-1-37. “State licensed mortgage loan originator”
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Sec. 37. “State licensed mortgage loan originator” means an individual who:
(2) is not an employee of:
(1) is a mortgage loan originator;
Terms Used In Indiana Code 23-2.5-1-37
- 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
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(A) a depository institution;
(B) a subsidiary that is:
(i) owned and controlled by a depository institution; and
(ii) regulated by the federal financial institutions regulatory agencies (as defined in 12 U.S.C. § 3350(6)); or
(C) an institution regulated by the Farm Credit Administration;
(3) is licensed by:
(A) a state; or
(B) the Secretary of the United States Department of Housing and Urban Development under Section 1508 of the S.A.F.E. Mortgage Licensing Act of 2008 (Title V of P.L.110-289); and
(4) is registered as a mortgage loan originator with, and maintains a unique identifier through, the Nationwide Multistate Licensing System.
As added by P.L.175-2019, SEC.2. Amended by P.L.211-2019, SEC.30.