CHAPTER 30. MORTGAGE LENDING AND FRAUD PREVENTION TASK FORCE
IC 4-23-30
Chapter 30. Mortgage Lending and Fraud Prevention Task Force
IC 4-23-30-1
"Task force"
Sec. 1. As used in this chapter, "task force" refers to the mortgage
lending and fraud prevention task force created under section 2 of
this chapter.
As added by P.L.16-2009, SEC.10.
IC 4-23-30-2
Creation of task force
Sec. 2. The following agencies shall create the mortgage lending
and fraud prevention task force by each appointing an equal number
of representatives to serve on the task force:
(1) The securities division of the office of the secretary of state
established under IC 23-19-6-1(a).
(2) The homeowner protection unit established by the attorney
general under IC 4-6-12-2.
(3) The department of financial institutions established by
IC 28-11-1-1.
(4) The department of insurance created by IC 27-1-1-1.
(5) The Indiana real estate commission created by
IC 25-34.1-2-1.
(6) The real estate appraiser licensure and certification board
created by IC 25-34.1-8-1.
As added by P.L.16-2009, SEC.10.
IC 4-23-30-3
Task force chair
Sec. 3. The members of the task force annually shall appoint a
chair from among the members of the task force. Each year, the chair
shall rotate among the agencies set forth in section 2 of this chapter.
As added by P.L.16-2009, SEC.10.
IC 4-23-30-4
Task force duties
Sec. 4. Subject to section 5 of this chapter, the task force shall
meet each month to:
(1) coordinate the state's efforts to:
(A) regulate the various participants involved in originating,
issuing, and closing home loans;
(B) enforce state laws and rules concerning mortgage
lending practices and mortgage fraud; and
(C) prevent fraudulent practices in the home loan industry;
and
(2) share information and resources necessary for the efficient
administration of the tasks set forth in subdivision (1), unless
prohibited by law.
As added by P.L.16-2009, SEC.10.
IC 4-23-30-5
Task force meetings
Sec. 5. With respect to any meeting of the task force:
(1) one (1) or more members of the task force may participate
in the meeting; or
(2) the meeting may be conducted in its entirety;
by means of a conference telephone or similar communications
equipment by which all persons participating in the meeting can
communicate with each other. Participation by the means described
in this subsection constitutes presence in person at the meeting.
As added by P.L.16-2009, SEC.10.
IC 4-23-30-6
Task force reports
Sec. 6. (a) Not later than November 1 of each year, the task force
shall report to the legislative council on the activities of each agency
comprising the task force under section 2 of this chapter with respect
to the most recent state fiscal year. The report required under this
section must include:
(1) information on the regulatory activities of each agency
described in section 2 of this chapter, including a description of
any:
(A) disciplinary or enforcement actions taken;
(B) criminal prosecutions pursued;
(C) rules adopted;
(D) policies issued; or
(E) legislative recommendations made;
concerning the professions involved in originating, issuing, and
closing home loans;
(2) a description of any challenges:
(A) encountered by the task force during the most recent
state fiscal year; or
(B) anticipated by the task force in the current state fiscal
year;
in carrying out the duties set forth in section 4 of this chapter;
(3) any additional information required by the legislative
council; and
(4) any recommendations by the task force for legislation
necessary to assist the task force in carrying out the duties set
forth in section 4 of this chapter.
(b) A report to the legislative council under this section must be
in an electronic format under IC 5-14-6.
As added by P.L.16-2009, SEC.10.