This Course Includes:
- OIL – 2 Hour Online IN-SOS SAFE PE – Indiana State License Law and Regulations (1696)
This course covers Indiana Law relevant to Mortgage Loan Originators (MLOs) and is structured to reflect the outline of the Indiana State License Exam. During this 2-hour pre-licensing course covering Indiana Mortgage law, we will cover several laws for Indiana Department of Financial Institutions and Indiana Secretary of State, including: First Lien Mortgage Lending, Uniform Consumer Credit Code, Loan Broker Act, Indiana Good Funds Law, High Cost Home Loan regulations.
Online Instructor Led (“OIL”). This education is delivered in the Online Instructor Led format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important NMLS specifications include:
• Defined start and end dates (See Course Calendar at top of page).
• Interaction with the instructor and students through forum activities
• Progression as a cohort. At times you will wait for instructor feedback before continuing.
(Note: This is not an “Self-Study” course and does not allow for study at any pace or without instructor/classmate interaction)
The course is divided into four sections:
Section 1: Regulatory Agency and Definitions – Covers the Regulatory authority of the SOSand the commissioner, summarizesthe Uniform consumer Credit Code, the Loan broker Act and the Indiana GoodFunds Law and associated definitions.
Section 2: License Law and Regulation – Covers Persons required to be licensed, licensee qualifications & the application process, the grounds for denyinga license and license maintenance.
Section 3: Compliance – Details prohibited and required conduct for SOS licensed MLOs.
Section 4: Disciplinary Action – Discusses notifications, hearings andappeals, then suspension, revocation and rescission of licenses, then finally, penalties/fines and civil and criminal liability