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23-2.5-1-37. "State licensed mortgage loan originator"

IN Code § 23-2.5-1-37 (2019) (N/A)
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Sec. 37. "State licensed mortgage loan originator" means an individual who:

(1) is a mortgage loan originator;

(2) is not an employee of:

(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.

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