Indiana § 24-4.4-2-403 License renewal; revocation or suspension of license not renewed;
reinstatement or appeal; correcting amendments

Indiana Statutes

§ 24-4.4-2-403 — License renewal; revocation or suspension of license not renewed; reinstatement or appeal; correcting amendments

Indiana·Art. 4.4 FIRST LIEN MORTGAGE LENDING·Ch. 2 Miscellaneous

(1)A mortgage license issued by the department must be renewed through the NMLSR not later than December 31 of each calendar year. The minimum standards for license renewal for a creditor include the following:

(a)The creditor has continued to meet the surety bond requirement under section 402.3 of this chapter.

(b)The creditor has filed the creditor's call report in a manner that satisfies section 405(4) of this chapter.

(c)The creditor has paid all required fees for renewal of the license.

(d)The creditor and individuals described in section 402(2) of this chapter have certified to the department that they continue to meet all the standards for licensing contained in section 402 of this chapter.

(e)The creditor has provided in the creditor's renewal application:

(i)any information

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A mortgage license issued by the
department must be renewed through the NMLSR not later than
December 31 of each calendar year. The minimum standards for
license renewal for a creditor include the following:
(a) The creditor has continued to meet the surety bond
requirement under section 402.3 of this chapter.
(b) The creditor has filed the creditor's call report in a manner that
satisfies section 405(4) of this chapter.
(c) The creditor has paid all required fees for renewal of the
license.
(d) The creditor and individuals described in section 402(2) of
this chapter have certified to the department that they continue to
meet all the standards for licensing contained in section 402 of
this chapter.
(e) The creditor has provided in the creditor's renewal application:
(i) any information describing material changes in the
information contained in the creditor's original application for
licensure, or in any previous application, including any
previous renewal application; and
(ii) any other information the director requires in order to
evaluate the renewal of the license.
(2) A license issued by the department authorizing a person to
engage in first lien mortgage transactions as a creditor under this article
may be revoked or suspended by the department if the person fails to:
(a) file any renewal form required by the department; or
(b) pay any license renewal fee described under section 402 of
this chapter;
not later than sixty (60) days after the due date.
(3) A person whose license is revoked or suspended under this
section may do either of the following:
(a) Pay all delinquent fees and apply for reinstatement of the
license.
(b) Appeal the revocation or suspension to the department for an
administrative review under IC 4-21.5-3. Pending the decision
resulting from the hearing under IC 4-21.5-3 concerning the
license revocation or suspension, the license remains in force.
(4) If, at any time, the information or record contained in:
(a) an original application for licensure filed under section 402 of
this chapter; or
(b) a renewal application filed under this section;
is or becomes inaccurate or incomplete in a material respect, the
applicant shall promptly file a correcting amendment with the
department.

Indiana § 24-4.4-2-403 (License renewal; revocation or suspension of license not renewed; reinstatement or appeal; correcting amendments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.