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2021 Indiana Code
Title 23. Business and Other Associations
Article 2.5. Loan Brokers
Chapter 1. Definitions
23-2.5-1-18. "Loan Processing Activities"

Universal Citation:
IN Code § 23-2.5-1-18 (2021)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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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.

As added by P.L.175-2019, SEC.2.

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