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If you have received a Summary Revocation of a Loan Broker License issued on July 7, 2008, please be advised that you have the following options.

1. To avoid permanent revocation, you may register an Individual as a Principal Manager prior to the effective date of the revocation as listed in the Order you received. A Principal Manager is defined as an individual who has at least three years of experience in financial services and is principally responsible for the supervision and management of the employees and business affairs of a business. To register as a Principal Manager, you must complete the Principal Manager Application, submit the appropriate fees, successfully pass the Principal Manager Assessment, and submit fingerprints for the FBI criminal history report. Information to register a Principal Manager is available on our website at the following link: http://www.in.gov/sos/securities/loanBroker/LBInfoWP.htm. Both the Indiana Association of Mortgage Brokers (www.inamb.com) and Nation’s Mortgage Certified Training, LLC (www.nmctraining.com) have created preparatory classes for the loan originator and principal manager assessments.
2. Your second option is to file a request to withdraw the Loan Broker license by completing Form LB1 and checking the box for Surrender/Cancel.
3. You can also do nothing, and the revocation of the loan broker license will take effect on the date as listed in the Order you received.
4. Your final option is to submit a written request for a hearing to contest the Order.