Sec. 201. (1) Except as provided in subsection (2), this article applies to a first lien mortgage transaction: (a) that is secured by an interest in: (i) a dwelling; or (ii) residential real estate upon which a dwelling is constructed or intended to be constructed; in Indiana; and (b) the closing for which takes place after December 31, 2008. (2) This article does not apply to a first lien mortgage transaction if: (a) the debtor is not a resident of Indiana at the time the transaction is entered into; and (b) the laws of the debtor's state of residence require that the transaction be made under the laws of the state of the debtor's residence.
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