Indiana Code 32-29-6-3. “Mortgage servicer”
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Terms Used In Indiana Code 32-29-6-3
- mortgage: means a mortgage or mortgage lien on an interest in real property in Indiana given to secure a loan in the original principal amount of not more than one million dollars ($1,000,000). See Indiana Code 32-29-6-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgagor: means the grantor of a mortgage. See Indiana Code 32-29-6-4
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- payoff statement: means a statement of the amount of:
Indiana Code 32-29-6-5
- person: means an individual, a corporation, or any other legal entity. See Indiana Code 32-29-6-6
Sec. 3. As used in this chapter, “mortgage servicer” means the last person to whom a mortgagor or the mortgagor‘s successor in interest has been instructed by a mortgagee to send payments on a loan secured by a mortgage. A person transmitting a payoff statement is the mortgage servicer for the mortgage described in the payoff statement.
[Pre-2002 Recodification Citation: 32-8-15.5-3.]
As added by P.L.2-2002, SEC.14.