Indiana Code 23-2.5-6-6. Mortgage loan originator activities license or registration lapse or expiration; written examination for licensure or registration
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Sec. 6. If an individual who has been issued a principal manager license or mortgage loan originator license under this article, or a license or registration issued by another state or jurisdiction allowing the individual to perform mortgage loan origination activities:
(2) otherwise has not been a registered mortgage loan originator, issued a mortgage loan originator license, issued a principal manager license, or otherwise maintained a license or registration to perform mortgage loan origination activities;
(1) allows the individual’s license or registration to lapse; or
Terms Used In Indiana Code 23-2.5-6-6
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
for a period of at least five (5) years, the individual must pass the written examination required by this chapter as a condition of relicensure or reregistration.
As added by P.L.175-2019, SEC.2.