Indiana Mortgage Licensing | Indiana Secretary of State Securities Division

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Mortgage Broker Licensing | Loan Broker License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, must show 3 years of experience as a loan originator (Copy of LO License for 3 years or copies of w-2s/1099s for mortgage company in a state that didn’t require LO Licensing). Also must complete or have completed 16 hours of Continuing Education.
  
• Minimum Net Worth: $ None
  
• Surety Bond: $50,000 to $75,000
  
• Loan Originator Licensing: Yes
  
• Branch Licensing: Yes
  
• Education/Experience: 24 hours of education
  
• Exemption: HUD Exemption eliminated

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$90 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 – Surety Bond Fee
$300 – Company License Fee
$100 – Owner Background Check per Ultimate Equitable Owner
$69 – IN NMLS Test for Principal Manager 

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1st Mortgage Banker Licensing | First Lien Mortgage Lending License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, 2 years of verifiable experience in the business of making or underwriting of residential mortgage loans or similar lending and credit evaluation experience and be actively engaged in the operations of the lender.
  
• Minimum Net Worth: $100,000 and liquid assets of $50,000 (Audited or Reviewed)
  
• Surety Bond: $100,000
  
• Loan Originator Licensing: Yes
  
• Branch Licensing: Yes (Branches located in Indiana only)
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$90 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,000 – Surety Bond Fee
$1,100 – Company License Fee

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2nd Mortgage Banker Licensing | Subordinate Lien Mortgage Lending License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, 2 years of verifiable experience in the business of making or underwriting of residential mortgage loans or similar lending and credit evaluation experience and be actively engaged in the operations of the lender
  
• Minimum Net Worth: $100,000 and liquid assets of $50,000 (Audited or Reviewed)
  
• Loan Officer Licensing: Yes
  
• Branch Licensing: Yes (Branches located in Indiana only)
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$90 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,000 – Surety Bond Fee
$1,100 – Company License Fee 

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Regulated by:
Indiana Secretary of State
Securities Division
302 W. Washington St. Room E-111
Indianapolis, IN 46204
Telephone: (317) 232-6531
Telephone: (317) 232-6681
Application Reviewer: Nick Jones
http://www.in.gov/sos/securities/

and

Indiana Department of Financial Institutions
30 S. Meridian Street, Suite 300
Indianapolis, IN 46204
Local (317) 232-3955
Toll Free (800) 382-4880
Aaron Sweet - [email protected]
http://www.in.gov/dfi/