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Effective
06/11/2008
Indiana
Department
of Financial Institutions
30 South Meridian Street, Suite 300
Indianapolis, Indiana 46204
Ph: (317) 232-3955
Secretary of State,
Securities Division
302 Washington Street,
Room E-111
Indianapolis, Indiana 46204
Telephone: (800) 223-8791
Requirements
Important News - Most
Licensing Exemptions removed effective 1/1/2009 - Announced 5/1/2008.
Loan originator for non-exempt
entity is required to be licensed. Effective 7/1/2007, pre-licensing
process is 24 hours of
state approved education prior AND test administered by Community
Colleges.
No Remote (Out of State) testing sites
available yet.
State requires 12 credit hours of continuing
education every 2 years thereafter.
Download Free State Highlight Study Sheet
Notice any errors -
report them here
Links
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12 Hour
Continuing Education Course
(Every 2 Years) |
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Indiana Test Preparation
Prepare for the new Indiana
Pre-Licensing Exam |
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24 Hour Pre-Licensing Course
Must be
Instructor Led
12 Hours of Compliance
12 Hours of Electives
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Click for Schedule and to Register |
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Indiana State Lending Blog |
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05/01/2008 lender
exemptions removed - The following entities are no longer exempt
from licensing under the Indiana loan broker act: Fannie Mae and
Freddie Mac approved sellers, Ginnie Mae sellers, FHA lenders
and brokers regardless of quantity, VA lenders, correspondent
lenders, real estate brokers. These entities must be licensed by
January 1, 2009 . Other amendments include stringent
privacy protections and disposal of personal information, and
accepting any funds in conjunction with an act known to be
fraudulent or misrepresented. |
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1/16/08 - Indiana Lawmakers Active
Eric
Bradner, Evansville Courier & Press
The Indiana Senate Committee on
Corrections, Criminal and Civil Matters this week
signed off on a bill aimed at curbing home foreclosures
by getting tougher on predatory mortgage lenders.
Senate Bill 89 would not only require thorough
national background checks on all
appraisers and mortgage brokers, it
would oblige lenders to provide borrowers with a summary
of how their adjustable-rate mortgages will reset
to higher interest rates in a few years. Additionally, the
proposal seeks to ramp up regulation of mortgage-only
offices and implement stiffer criminal and civil
penalties for mortgage fraud. The bill will now
go to the full state Senate for consideration. |
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