"Loan processor or underwriter" means an individual who performs clerical or support duties as an employee at the direction of, and subject to the supervision and instruction of, a person licensed to engage in mortgage transactions or a person exempt from licensing. For purposes of this section, the term "clerical or support duties" may include, after the receipt of an application, the following:

1. (1) The receipt, collection, distribution, and analysis of information common for the processing or underwriting of a mortgage transaction.

2. (2) The communication with a consumer to obtain the information necessary for the processing or underwriting of a loan, to the extent that the communication does not include:

   1. (A) offering or negotiating loan rates or terms; or

   2. (B) counseling consumers about mortgage transaction rates or terms.

      The term does not include an individual who is an employee of a person that is not engaged in mortgage transactions as a creditor if that person is permitted to voluntarily register with the department to sponsor the individual under IC 37-1-1-6 (8) to engage solely in the activities described in this subdivision.

      [Pre-2026 Revision Citation: 24-4.4-1-301(20).]

As added by P.L.115-2026, SEC.97.