"Indiana-Sos Loan Broker License Form" - Indiana

Indiana-Sos Loan Broker License Form is a legal document that was released by the Indiana Secretary of State - a government authority operating within Indiana.

Form Details:

  • Released on October 3, 2013;
  • The latest edition currently provided by the Indiana Secretary of State;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Indiana Secretary of State.

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IN-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
Page 1 of 2
IN-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
Page 1 of 2
NMLS Unique ID Number:
________________
Applicant Legal Name:
______________________________________
NOT
ATTACHED
ITEM
APPLICABLE
SURETY BOND. Provide an original notarized bond in the appropriate
graduated amount
furnished by a surety company authorized to conduct business
in Indiana. The name of the principal insured on the bond must match exactly the
Full Legal Name of applicant. For applicants applying prior to October 31, the
bond term should extend until the end of the year of application. For applicants
applying after November 1 and before December 31, the bond term should
extend until the end of the next calendar year. Use the surety bond form found
here. The power of attorney for the bond must also be included. Do not
include an expiration date on bond. The original bond and power of
attorney must be sent to the Indiana Secretary of State Securities Division.
SECRETARY OF STATE DOCUMENTATION. A copy of:
The Corporate Charter or Articles of Incorporation (if a corporation), or
The Articles of Organization and Operating Agreement (if a Limited
Liability Company), or
The Partnership Agreement (if a partnership of any form);
ULTIMATE EQUITABLE OWNER(S). $100.00 for each ultimate equitable owner
(UEO). The UEO fee is separate from the NMLS licensing fee. A check and a
cover letter containing the company name and check amount must be sent to
and made payable to the Indiana Secretary of State. UEOs are also required to
obtain an FBI background report through the NMLS. The definition of an UEO
can be found in the Indiana Code
23-2-5-3
(j).
BUSINESS REGISTRATION. The entity’s name and any assumed business
name(s) must be registered with the Indiana SOS, Business Services Division
(BSD). The business name must exactly match the name on the bond. Go to
http://www.in.gov/sos/business/
to start registration and call the main line at 317-
232-6576 for assistance.
CONSENT TO SERVICE OF PROCESS. List the Indiana Secretary of State’s
address and contact information appointing the Secretary of State as the agent to
receive process on the company’s NMLS profile.
FBI BACKGROUND CHECKS For each control person, equitable owner(s),
director(s), manager(s) or officer(s) provide an FBI background check issued by
the Federal Bureau of Investigations (FBI). Reference the Indiana SOS website
at
http://www.in.gov/sos/3388.htm
for more detail.
DISCLOSURE QUESTIONS. Provide complete details of all events or
proceeding for any “Yes” answer to any of the Disclosure questions for the
company or any Control Person and provide a copy of any applicable orders or
documents.
WHO TO CONTACT – Contact Indiana Secretary of State, Securities Division licensing staff by phone
at 317-232-6681 or e-mail
for questions regarding regulation and licensing.
nmusgrave@sos.in.gov
Updated: 10/3/13
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