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Indiana Code Title 23. Business and Other Associations § 23-2.5-1-18

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 18. (a) “Loan processing activities” means clerical or support duties performed on behalf of a loan broker with respect to residential mortgage loan origination activities performed by the loan broker.

(b) The term “loan processing activities” includes the following:

(1) The receipt, collection, distribution, and analysis of information commonly used in the processing of a residential mortgage loan.

(2) Communicating with a borrower or potential borrower to obtain the information necessary for the processing of a residential mortgage loan, to the extent that the communication does not include:

(A) offering or negotiating loan rates or terms;  or

(B) counseling borrowers or potential borrowers about residential mortgage loan rates or terms.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2.5-1-18 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-5-1-18/

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