Indiana Mortgage Broker License Guide

In Indiana, companies and sole proprietorships engaged in the mortgage loan business need to be licensed by the state. The two agencies responsible for supervising and regulating the mortgage licenses are the Indiana Department of Financial Institutions (DFI) and Indiana Secretary of State (SOS).

The license application process is handled by the Nationwide Mortgage Licensing System (NMLS). NMLS allows companies and loan originators to apply, update, and renew a mortgage license.

If you'd like assistance with the licensing process, our mortgage broker licensing partner can make the process seamless for you; learn more here.

Mortgage licenses in Indiana are issued by two separate agencies: Indiana DFI and Indiana SOS. The license types depend on the work you perform. The most common ones are the DFI Mortgage Lending License and SOS Loan Broker License.

In this guide, we’ll cover the most common licenses only. You can review the full list on the NMLS DFI page and NMLS SOS page.

Most Common DFI Company License

• Mortgage Lending License - allows lenders to originate consumer mortgage loans. Companies who employ mortgage loan originators are also required to obtain this license.

Most Common SOS Company License

• Loan Broker License - allows companies and sole proprietorships to obtain residential mortgage loans from third parties for residential properties.

Note: If you hold a Mortgage Lending License you are not required to obtain a Loan Broker license in order to broker mortgage loans.

All license applications must be submitted online through the NMLS site.

Mortgage Lending License applicants, please note that some documentation needs to be sent directly to the Department of Financial Institutions. You can send it by email at dfilicensing@dfi.in.gov or mail it to Indiana Department of Financial Institutions, Consumer Credit Division, 30 South Meridian Street, Suite 300, Indianapolis, IN 46204.

For further information regarding the Mortgage Lending license requirements, you may contact the Consumer Credit Division at 317-453-2539 or at dfilicensing@dfi.in.gov.

Loan Broker License applicants, please note that some agency-specific requirements must be mailed to the Secretary of State. Please send your documentation to Indiana Secretary of State, Securities Division, 302 W. Washington St., Room E-111, Indianapolis, IN 46204.

For questions regarding the Loan Broker license, you may contact Nancy Musgrave at (31 7) 232-6681 or at nmusgrave@sos.in.gov.

For NMLS-related questions or assistance with your application process, please contact NMLS call center at (855) 665-7123.

In Indiana, passing an exam is obligatory for some, but not all license types. You don’t need to complete a pre-license course or pass an examination in order to obtain a Mortgage Lending or Loan Broker License.

Bonds for DFI Company Licenses

• Mortgage Lending License – In order to obtain an IN Mortgage Lending license, all applicants must submit a surety bond through NMLS in the amount of $100,000.

Bonds for SOS Company Licenses

• Loan Broker License - All license applicants are required to submit their surety bonds online through the NMLS site . The amount of the bond depends on the loan volume from the previous year.
  • $50,000 surety bond for 0 - $5,000,000 loan volume.
  • $60,000 surety bond for $5,000,000 - $20,000,000 loan volume.
  • $75,000 surety bond for loan volume over $20,000,000.

The fees are not refundable and must be submitted via NMLS.

Fees for DFI Company Licenses

• Mortgage Lending License
  • $1,000 application fee
  • $100 NMLS processing fee
  • $36.25 background check

Fees for SOS Company Licenses

• Loan Broker License
  • $300 total license costs (including the NMLS processing fee)
  • $36.25 background check