Ind. Code § 37-5-2-10
"Points and fees"
Indiana · Indiana Code Title 37 — Consumer Lending · Status: effective
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- Ind. Code § 37-5-2-10, "Points and fees", Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1689705
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Full text
Sec. 10.
(a) Except as provided in subsection (b), "points and fees" means the total of the following:
(1) Points and fees (as defined in 12 CFR 226.32(b)(1) on January 1, 2004).
(2) All compensation paid directly or indirectly to a mortgage broker, including a broker that originates a loan in the broker's own name.
As used in subdivision (2), "compensation" does not include a payment included in subdivision (1).
(b) The term does not include the following:
(1) Bona fide discount points.
(2) An amount not to exceed one and one-half (1 1/2) points in indirect broker compensation, if the terms of the loan do not include:
(A) a prepayment penalty, in the case of a home loan described in IC 37-5-3-6(b); or
(B) a prepayment penalty that exceeds two percent (2%) of the home loan principal, in the case of a home loan other than a home loan described in IC 37-5-3-6(b).
(3) Reasonable fees paid to an affiliate of the creditor.
(4) Interest prepaid by the borrower for the month in which the home loan is closed.