Indiana 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 who have obtained the exempt company registration.

Who Is Required to Have This License? All mortgage loan originators employed by mortgage lenders licensed by Indiana Department of Financial Institutions (IN-DFI), or employed by mortgage lenders exempt from IN-DFI licensure who have obtained an exempt company registration. Please note that IN-DFI does not issue paper licenses. An applicant must reside in a U.S. State or Territory to be eligible for the Indiana DFI MLO license. If a license is issued, the MLO licensee must continue to reside in a U.S. State or Territory to maintain license eligibility. An applicant must be a W-2 employee of, and sponsored by, an actively licensed Indiana DFI Mortgage Lending licensee in order to obtain an active license. W-2 employment status is required to be disclosed as part of the application process. Indiana law does not currently permit MLOs to be compensated through a 1099. Distance/Remote Work Requirements. IN-DFI does not have a distance requirement as to an MLO’s work location in relation to their Sponsor’s location. IN-DFI does not have restrictions on remote work; applicants must comply with their employer's remote work policy. After 120 days in a pending status, an application is considered abandoned and expired. An expired application may be administratively terminated. An applicant may file a new application in NMLS if an expired application has been terminated. IF YOU ARE SEEKING TEMPORARY AUTHORITY, please review our MLO FAQ. Criminal background checks (CBCs) reveal all arrest records, but may not show the final outcome (conviction, dismissal, expungement, etc.). If an item on your CBC could raise questions about your eligibility for the Indiana DFI MLO license, provide relevant documentation, by email to dfimloapplications@dfi.in.gov, on the same day that you submit your license application. If we need more documentation based on your CBC results, we will place a License Item (Deficiency) in NMLS, which will make you ineligible for TA. You must respond with the requested documentation within five business days. If you cannot provide documentation within five days, we will enter an Intent to Deny License Item. The Intent to Deny License Item makes you ineligible for TA, and it is visible to other states so it could affect your license status in other states. PREREQUISITES Pre-licensure Education: Prior to submission of the application, complete 20 hours of NMLS-approved pre-licensure education (PE) courses. Note: If 3 years have passed since completion of the 20 hours, and you have not held a federal MLO registration or state MLO license during that period, the PE is considered expired and you must complete an additional 20 hours of approved PE. (See 750 IAC 9-3-5(g).) Note: You are required to complete 8 hours of NMLS-approved continuing education annually to maintain the license. If an MLO held an Indiana DFI license in the past but is now unlicensed, the MLO must complete CE requirements for the last year in which their Indiana DFI license was held in order to qualify for a new or renewed license. (See 750 IAC 9-3-10(h).) Testing: Prior to submission of the application, satisfy one of the following three conditions: • Passing results on both the National and Indiana State components of the SAFE Test, or • Passing results on both the National and Stand-alone UST components of the SAFE Test, or • Passing results on the National Test Component with Uniform State Content. A licensed MLO who fails to maintain a valid state license or federal MLO registration for a period of 5 years must retake the test to be issued a new license. (See 750 IAC 9-3-6.) How long will it take to approve my license application? If you have completed all requirements and provided all information requested on the New Application checklist (including results of your Criminal Background Check), we are usually able to approve the license within 2 business days. Incomplete applications will have License Items applied, and the application status will be updated to a “Pending – deficient” status. Deficient applications are reviewed for completion only on a biweekly basis. We strive to review new applications within 30 days. If our initial review finds that your application is incomplete, there may be a significant delay before newly submitted materials can be reviewed. Please re-review the checklist carefully to ensure you are submitting a complete application. If you have questions about items requested on this Checklist, email abailey2@dfi.in.gov. Helpful Resources • Indiana law regarding MLOs: 750 IAC 9 • IN-DFI FAQ for MLO applicants and licensees