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2021 Indiana Code
Title 23. Business and Other Associations
Article 2.5. Loan Brokers
Chapter 1. Definitions
23-2.5-1-22. "Mortgage Loan Originator"
Universal Citation:
IN Code § 23-2.5-1-22 (2021)
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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)).
As added by P.L.175-2019, SEC.2.
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