Indiana-Sos Loan Broker License (Jurisdiction-Specific Requirements)
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2IN-SOS
New Application Checklist
Jurisdiction-Specific Requirements
INDIANA-SOS LOAN BROKER LICENSE
Instructions
1.
Each branch location wherever located, desiring to conduct business in Indiana must be
separately licensed and will require a filing of Form MU3 through NMLS.
2.
Each individual originating mortgages needs to be separately licensed and will require a filing of
Form MU4 through NMLS. After the MU4 is submitted, the company must submit a sponsorship
request to the regulator before the individual MU4 license will be approved. A quick guide
entitled “Create a Company Sponsorship” at the following link will help walk you through this
process:
NMLS Quick
Guides.
3.
An actively licensed Principal Manager (PM) is required for all locations conducting loan
origination activities (including branches). An individual or company is licensed in any variation
of the “Approved” NMLS status (i.e. Approved-Inactive), however, an actively licensed status is
only the “Approved” NMLS status and no other variation. This individual may be referred to as
the Branch Manager or Principal Manager and must be listed as the “Qualifying Individual” on
Form MU1. The Administrative Order for Principal Manager Applicants can be found here.
NOTE: A Principal Manager applicant and a Loan Broker applicant can be simultaneously
approved once all requirements are met and a sponsorship is requested.
4.
Registered Agent: Every applicant for licensure shall appoint the SOS to be the applicant's agent
to receive service of any lawful process. (This does not apply to the Corporation filings; see the
INSOS Business Services Division
website for Corporation filing information).
5.
Total License costs: $300.00, which includes the NMLS processing fee. Additional charges for
Ultimate Equitable Owners (UEO) are payable outside the NMLS.
6.
All fees are collected through the NMLS except the Ultimate Equitable Owner (UEO) fees and
ARE NOT REFUNDABLE.
7.
The regulator will review the filing and all required documents and communicate with you through
the NMLS. To review your status in the NMLS, click the Tasks tab and click Work List.
8.
Jurisdiction-specific requirements as identified on the following checklist must be completed
within 5 business days of the electronic submission of your application.
9.
The paper documents required to be sent in to the Indiana SOS, Securities Division are:
a. The original bond along with the original power of attorney
b. The UEO check along with UEO cover letter
c. Any additional documentation requested by an Indiana SOS agent
(This instruction does not include any document required by the Indiana SOS, Business Services
Division (BSD) during the business registration process.)
For U.S. Postal Service and Overnight Delivery:
Indiana Secretary of State
Securities Division
302 W. Washington St.
Room E-111
Indianapolis, IN 46204
Updated: 10/3/13
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