As previously announced, Chapter 5, Article 2, Title 23 of Indiana’s Code has been repealed and substantively replaced with new Article 2.5, Title 23. This change includes the repeal of Indiana’s lock-in agreement requirements (Ind. Code Ann. §§ 23-2-5-9 & 23-2-5-23) and replacing them with new Ibid. §§ 23-2.5-8-1, 23-2.5-8-4, 23-2.5-8-5(1)(B), & 23-2.5-9-1.
Our “IN Mortgage Broker Agreement” (Cx3828) is a duplicate of the model form “Indiana Loan Broker Agreement” published by the Indiana Secretary of State’s office on their website (available at: https://www.in.gov/sos/securities/2406.htm and https://www.in.gov/sos/securities/4451.htm). Due to Indiana’s statutory changes, this model form has been updated to reflect the newer citations to Article 2.5, Title 23 and we will be updating Cx3828 to match the latest version.
These changes will be in effect on September 17, 2019. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.