Ind. Code ch. 23-2.5-9

in effect

Ind. Code § 23-2.5-9-1 Loan broker agreement; licensee information

Sec. 1. A loan broker agreement that is delivered or required to be delivered by a licensee to a borrower or prospective borrower must contain the license number of: (1) the loan broker; and (2) each mortgage loan originator; who had contact with the file. As added by P.L.175-2019, SEC.2. Amended by P.L.89-2024, SEC.27.

Ind. Code § 23-2.5-9-2 Loan processing company records

Sec. 2. (a) A loan processing company shall maintain records of all residential mortgage loan transactions conducted by the loan processing company as follows: (1) The records required to be maintained under this section are the records pertaining to the part of each transaction the loan processing company conducts. (2) The records must be maintained for at least two (2) years in the office of the loan processing company. (3) The records must be readily identifiable or separate from the records of any other business conducted by the loan processing company. (b) If the office in which records are maintained under this section is not located in Indiana, the records must be: (1) made available to the securities division at a location that is: (A) located in Indiana; and (B) accessible to the securities division; or (2) maintained electronically and made available to the securities division not later than ten (10) business days after a request by the securities division to inspect or examine the records. As added by P.L.175-2019, SEC.2.

Ind. Code § 23-2.5-9-3 Loan processing company breach; disclosure

Sec. 3. If a breach occurs of the security of records that: (1) are maintained by a loan processing company under this chapter; and (2) contain the unencrypted, unredacted personal information of one (1) or more borrowers or prospective borrowers; the loan processing company is subject to the disclosure requirements under IC 24-4.9-3. However, this section does not apply if the loan processor is exempt from the disclosure requirements under IC 24-4.9-3-4. As added by P.L.175-2019, SEC.2.

Ind. Code § 23-2.5-9-4 Loan processing company records disposal

Sec. 4. A loan processing company may not dispose of the unencrypted, unredacted personal information of one (1) or more borrowers or prospective borrowers without first shredding, incinerating, mutilating, erasing, or otherwise rendering the information illegible or unusable. As added by P.L.175-2019, SEC.2.

Ind. Code § 23-2.5-9-5 Loan processing company records; commissioner examination

Sec. 5. The commissioner may examine the books and records of a loan processing company as often as the commissioner considers necessary to verify that the loan processing company is compliant with this article. As added by P.L.175-2019, SEC.2.

Ind. Code § 23-2.5-9-6 Loan processor; federal law compliance

Sec. 6. A loan processor shall comply with all of the following: (1) The federal Truth in Lending Act (15 U.S.C. 1601 et seq.). (2) The federal Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.). (3) The federal Equal Credit Opportunity Act (15 U.S.C. 1691 et seq.). (4) Any other federal law concerning residential mortgage lending. As added by P.L.175-2019, SEC.2.

Ind. Code § 23-2.5-9-7 Loan processor; loan processor company; violations

Sec. 7. The following are subject to disciplinary proceedings under IC 23-2.5-11 for a violation of this article: (1) A loan processor. (2) A loan processing company. As added by P.L.175-2019, SEC.2.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026