Indiana Consolidates Mortgage Lending Licenses

Indiana Department of Financial Institutions has merged the First Lien Mortgage Lending License and the Subordinate Lien Mortgage Lending License into a unified Indiana DFI Mortgage Lending License.

The First Lien Mortgage Lending License will transition to the Mortgage Lending License with no change to the language of existing/executed bonds and does not require action by holders of the license.

Subordinate-Lien Mortgage Lending licensees who also hold the First-Lien license will be required to surrender their Subordinate-Lien license on or after July 1, 2017.  Subordinate-Lien licensees that do not hold the First-Lien license will be required to submit a transition request for the new DFI Mortgage Lending License, on or after July 1, 2017.

After July 1, 2017, only the Mortgage Lending License will be available for new applications.