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Indiana Code Title 23. Business and Other Associations § 23-2.5-1-22

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

Sec. 22. (a) “Mortgage loan originator” means an individual engaged in mortgage loan origination activities.

(b) The term “mortgage loan originator” does not include a person who:

(1) performs purely administrative or clerical tasks on behalf of a mortgage loan originator or acts as a loan processor;

(2) performs only real estate brokerage activities and is licensed in accordance with IC 25-34.1 or the applicable laws of another state, unless the person is compensated by a creditor, a loan broker, a mortgage loan originator, or an agent of a creditor, a loan broker, or a mortgage loan originator;  or

(3) is involved only in extensions of credit relating to time share plans (as defined in 11 U.S.C. 101(53D)).

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2.5-1-22 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-5-1-22/

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