Creditor in that section is defined below and it does not exempt financial institutions, regardless of location. However, it would not apply to transactions not in IN. IN State law will not extend to transactions involving property not in IN.
Sec. 6. (a) "Creditor" means:
(1) a person:
(A) who regularly extends consumer credit that is subject to
a finance charge or that is payable by written agreement in
more than four (4) installments; and
(B) to whom the debt arising from a home loan transaction
is initially payable; or
(2) a person who brokers a home loan, including a person who:
(A) directly or indirectly solicits, processes, places, or
negotiates home loans for others;
(B) offers to solicit, process, place, or negotiate home loans
for others; or
(C) closes home loans that may be in the person's own name
with funds provided by others and that are thereafter
assigned to the person providing funding for the loans.
(b) The term does not include:
(1) a servicer;
(2) a state or local housing finance authority;
(3) any other state or local governmental or quasi-governmental
(4) an attorney providing legal services in association with the
closing of a home loan.
As added by P.L.73-2004, SEC.
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