Indiana Mortgage Licensing
Mortgage Broker Licensing
Loan Broker License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $ None
Surety Bond: $50,000
State Initial Fee: $400 + $200 per Owner
Loan Officer Licensing: Yes
Branch Licensing: No
Education/Experience: 24 hours of education
Exemption: HUD Exemption eliminated
1st Mortgage Banker
1st Mortgage Lender License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $100,000 and liquid assets of $50,000
State Initial Fee: $1,000
State Renewal Fee: $1,000 to $12 per $100,000 volume
Loan Officer Licensing: No
Branch Licensing: Yes (Branches located in Indiana only)
Experience/Education: 2 years of experience
2nd Mortgage Banker
2nd Loan License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $100,000 and liquid assets of $50,000
State Initial Fee: $1,000
State Renewal Fee: $1,000 to $12 per $100,000 volume
Loan Officer Licensing: No
Branch Licensing: Yes (Branches located in Indiana only)
Experience/Education: 2 years of experience
Regulated by:
Indiana Secretary of State
Securities Division
201 Statehouse
Indianapolis, IN 46204
Telephone: (317) 232-6531
http://www.in.gov/sos/securities/
andDepartment of Financial Institutions
30 S. Meridian Street, Suite 300
Indianapolis, IN 46204
Local (317) 232-3955
Toll Free (800) 382-4880
http://www.in.gov/dfi/