Sec. 2. (a) A loan processing company shall maintain records of all residential mortgage loan transactions conducted by the loan processing company as follows:

(1) The records required to be maintained under this section are the records pertaining to the part of each transaction the loan processing company conducts.

(2) The records must be maintained for at least two (2) years in the office of the loan processing company.

(3) The records must be readily identifiable or separate from the records of any other business conducted by the loan processing company.

     (b) If the office in which records are maintained under this section is not located in Indiana, the records must be:

(1) made available to the securities division at a location that is:

(A) located in Indiana; and

(B) accessible to the securities division; or

(2) maintained electronically and made available to the securities division not later than ten (10) business days after a request by the securities division to inspect or examine the records.

As added by P.L.175-2019, SEC.2.