Loan originators and mortgage brokers in the State of Indiana are required to have 24 hours of continuing education every 2 years. If the mortgage broker is acting as a loan originator, they can use 12 of the hours that are applied to the loan originators license towards their mortgage broker license.

A list of approved loan broker and originator education vendors and courses can be found at http://www.in.gov/sos/securities/public.html.

To obtain a license and register originators, the applicants are required to submit the following items to the Secretary of State's Securities Division:

• Accurate and complete loan broker license application
• Accurate and complete registration form for each originator engaging in origination activities and proof (e.g. a completion certificate) the registrant has completed the educational requirements.
• Required application fee.
• An original signed surety bond payable to the State of Indiana in the amount of $50,000, in the full name of the business with an original power of attorney.
• Proof of proper business filing in Indiana (e.g. a copy of the entity's Certificate of Authority, Certificate of Incorporation, or Certificate of Assumed Business Name).
• Evidence that the applicant, if the applicant is an individual, has completed the education requirements under section 21 of Indiana Code 23-5-5.

The Secretary of State's Securities Division is authorized to conduct a background investigation and examination in connection with any application for a license or registration certificate.

A licensee may not continue engaging in the loan brokerage business unless the licensee's license is renewed biennially. A licensee shall renew its license and the certificates of registration of its registrant employees by filing with the commissioner, at least thirty (30) days before the expiration of the registration, an application containing any information the commissioner may require to indicate any material change from the information contained in the applicant's original application or any previous application.

Application forms can be downloaded at Secretary of State - Securities Division - Application Forms.

For more information, visit the Indiana Secretary of State website.