SOURCE: Page 6, line 37; (10)MO120601.6. -->
Page 6, line 37, delete "means a person:" and insert "
means:
(1) a person:
(A) that engages in Indiana in the extension of mortgages
that are subject to a credit service charge or loan finance
charge, as applicable, or are payable by written agreement
in more than four (4) installments (not including a down
payment); and
(B) to whom the obligation arising from a mortgage is
initially payable, either on the face of the note or contract,
or by agreement if there is not a note or contract; or
(2) a person who brokers a mortgage, including a person who:
(A) directly or indirectly solicits, processes, places, or
negotiates mortgages for others;
(B) offers to solicit, process, place, or negotiate mortgages
for others; or
(C) closes mortgages that may be in the person's own name
with funds provided by others and that are thereafter
assigned to the person providing funding for the
mortgages.
(b) The term does not include a person described in
IC 24-9-2-6(b).".
Page 6, delete lines 38 through 42.
Page 7, delete lines 1 through 8.
(Reference is to HB 1206 as printed January 29, 2010.)
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MO120601/DI 101 2010