Indiana Code Title 24. Trade Regulation § 24-4.4-2-401

Sec. 401. (1) Unless a person subject to this article has first obtained a mortgage license from the department and annually maintains the license, the person shall not engage in Indiana as a creditor in first lien mortgage transactions.  A separate mortgage license is required for each legal entity that engages in Indiana as a creditor in first lien mortgage transactions.  However, a separate mortgage license is not required for each branch of a legal entity licensed by the department.

(2) Each:

shall register with and maintain a valid unique identifier issued by the NMLSR.  Each licensed mortgage loan originator must be employed by, or sponsored as permitted by IC 24-4.4-1-202(b)(8) or by 750 IAC 9, and associated with, a licensed creditor (or a person exempt from licensing) that is registered with the NMLSR.

(3) An individual engaging solely in loan processor or underwriter activities shall not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.  An individual who:

is subject to the prohibition set forth in this subsection with respect to the individual's engagement under the sponsorship.

(4) Applicants for a mortgage license must apply for the license in the form prescribed by the director.  Each form:

(5) To fulfill the purposes of this article, the director may establish relationships or contracts with the NMLSR or other entities designated by the NMLSR to:

(6) For the purpose of participating in the NMLSR, the director or the department may: