Indiana Mortgage Loan Broker Bonds
HB 1646 License Bond – Mortgage Loan Brokers
This law requires loan brokers, mortgage loan originators and principal managers to be licensed. Also under this new law requires that a surety bond must be posted to cover originators and principal managers who are employees of the loan broker. The surety bond amount that will be posted is determined upon the total amount of residential mortgage loans originated in the previous calendar year. If the total is not greater than $5 million the bond amount will be $50,000. If the total amount is between $5 million and $20 million the bond amount posted will be $60,000. Any amounts that exceed $20 million will be posted in the amount of $75,000. This law became effective on January 1, 2010.
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Robin Kix
Robin Kix is currently the Renewal Department Manager. Since joining Lance Surety in 2014, she has helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.
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