Authority: IC 24-4.4-1-101

Affected: IC 24-4.4; IC 24-4.5

Sec. 12. (a) The department may bring a civil action to recover a civil penalty against a mortgage loan originator who willfully violates this article. If the court finds that the mortgage loan originator engaged in a course of repeated and willful violations of this article, the court may assess a civil penalty of not more than five thousand dollars ($5,000). A civil penalty may not be imposed under this subsection:

1. (1) for a violation of this article occurring more than two (2) years before the action is brought; or
2. (2) for making an unconscionable agreement or engaging in a course of fraudulent or unconscionable conduct.

(b) If the department determines, after notice and an opportunity to be heard, that a person has willfully violated this article, the department may, in addition to or instead of all other remedies available under this section, impose upon the person a civil penalty not greater than ten thousand dollars ($10,000) for each violation.

(c) If the department determines, after notice and opportunity to be heard, that a person has violated this article, the department may, in addition to or instead of all other remedies available under this section, order restitution against the person subject to this article for a violation of this article.

(Department of Financial Institutions; 750 IAC 9-5-12; emergency rule filed Jul 23, 2009, 4:14 p.m.: 20090729-IR-750090577ERA; readopted filed Dec 1, 2015, 9:28 a.m.: 20151230-IR-750150336RFA; readopted filed Nov 3, 2021, 10:48 a.m.: 20211201-IR-750210427RFA; readopted filed Sep 12, 2025, 11:22 a.m.; 20251001-IR-750240630RFA)