LOAN BROKERS | APPLYING AS A LOAN BROKER | LOAN BROKER EXAMINATIONS | APPLYING  AS A PRINCIPAL MANAGER/LOAN ORIGINATOR

NOTIFICATIONS & UPDATES

• 2018 LOAN BROKER CONFERENCE

         Executive Summary

• Approved Indiana Loan Broker Agreement

A recent review revealed an error under Section 3. Our Compensation. IC § 23-2-5-19(b) was repealed. The referenced Indiana Code has been updated to reflect IC § 23-2-5-20(a)(4). Please update your loan origination systems with the updated version of the approved Indiana Loan Broker Agreement. An updated version will also be available online on the Secretary of State Securities Division webpage. The new version must be used immediately.

• ONLINE PAYMENT OF ULTIMATE EQUITABLE OWNER (“UEO”) FEE

The Division has transitioned the receipt of the UEO Fee online. Licensees no longer need to mail those payments. Firms will receive an invoice through NMLS.

• MORTGAGE CALL REPORT (“MCR”) FILINGS

The Division will begin monitoring the MCR Filings in NMLS for accuracy. Please see the due dates below:

• RMLA – Due quarterly, within 45 days of the calendar quarter.
  • Q1 data – (January 1 – March 31) is due May 15
  • Q2 data – (April 1 – June 30) is due August 14
  • Q3 data – (July 1 – September 30) is due November 14
  • Q4 data – (October 1 – December 31) is due February 14
• FC – Due annually within 90 days of your company’s Fiscal Year End as reported on the Company (MU1) form.

Completing the Standard MCR

CONSUMER RESOURCES

• Securities Division - File a complaint
• Consumer Financial Protection Bureau (CFPB)
• Search for Licensed Loan Brokers-NMLS Consumer Access
• Search for HUD –Approved Loan Brokers- US Department of Housing and Urban Development (HUD)

CONTACT INFORMATION

Loan Broker – Licensing/Compliance
Ariel Smock 
Compliance Officer
317-232-6684
ArSmock@sos.in.gov

Loan Broker - Examinations
Jim Easton
Loan Broker Examiner
317-234-9673
JEaston1@sos.in.gov

ATTENTION LENDING INSTITUTIONS: Lending Institutions are regulated by the Indiana Department of Financial Institutions. Any questions regarding the licensing of lending institutions should be directed to the Department of Financial Institutions. You may contact the Department of Financial Institutions at 317.232.3955. The Indiana Secretary of State, Securities Division regulates loan brokers.