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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Consumer Loan License This license application is for an entity seeking to engage in consumer loan transactions under the Indiana Uniform Consumer Credit Code (IUCCC, Ind. Code § 24-4.5) generally, and more specifically under Ind. Code § 24-4.5-3. Entities that engage in taking assignment of consumer loans or undertaking direct collection of consumer loan payments may also be required to obtain a license. Please review Ind. Code § 24-4.5-3-502 for additional information regarding entities required to obtain this license. The following is a partial list of loan types not covered by this license. • Small loans, also known as payday loans (Small Loan License, Ind. Code § 24-4.5-7). • Mortgage loans (Mortgage Lending License, Ind. Code § 24-4.4 and -4.5). Please note that entities engaging in consumer loan transactions as well as credit sales are only required to maintain a Consumer Loan License and are not required to separately file a Notice of Intent form for the non-lender registration. However, if an entity only engages in credit sales and does not engage in any consumer loan transaction activity, then the Notice of Intent form must be filed to obtain the non-lender registration instead of obtaining the Consumer Loan License. Indiana DFI will begin accepting applications for this license on 4/1/2021!
Debt Management License This license is required for any person doing business as a budget counseling, credit counseling, debt management, or debt pooling service or holding the person out, by words of similar import, as providing services to debtors in the management of their debts, and having a written agreement with the debtor to disburse money or anything of value. (More Details)
Exempt Company Registration This registration is available for any company that employs state-licensed mortgage loan originators but is not required to be licensed under the laws of Indiana. This registration is optional and is intended for companies that wish to manage their mortgage loan originator in NMLS. Please consult the state regulator before applying for this registration. (More Details)
Money Transmitter License This license is required for any person engaging in the business of sending or receiving payment instruments primarily for personal, family or household purposes. Money transmission performed from an office or place of business, or internet, wherever located (inside or outside the United States) by any means, including but not limited to a payment instrument, wire, facsimile, or electronic transfer.
Mortgage Lending License This license is required of any lender that is regularly engaged in originating consumer purpose mortgage loans subject to Ind. Code § 24-4.4 et seq. or Ind. Code § 24-4.5 et seq. Also, any company that employs individuals engaged in mortgage loan origination activity is required to be licensed as a pre-requisite to sponsor individually licensed mortgage loan originators.
Branch Licenses Description Requirements Checklist
No branch licenses Indiana DFI does not have licenses of this classification available in NMLS at this time.
    Individual Licenses Description Requirements Checklist
    Mortgage Loan Originator License This license is required for all mortgage loan originators employed by DFI licensed mortgage lenders or employed by mortgage lenders exempt from DFI licensure.
     

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