According to DFI at http://www.in.gov/dfi/2673.htm
Legislation passed in the 2008 session of the Indiana General Assembly, IC 24-4.4, First Lien Mortgage Lending, is effective January 1, 2009, and contains regulatory provisions for first lien mortgage lending. The new statute is contained in House Enrolled Act 1359, Section 20.
License applications will be available by November 1, 2008.
Application for the License and the annual renewal will be handled via the Nationwide Mortgage Licensing System.
Click Here for Additional Information on First Lien Mortgages
There is a new bond requirement of $100,000 for the license and has been deemed acceptable by the SFAA and many sureties.
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