NRS 645B.0137
Requirements for initial licensing as mortgage company or mortgage loan originator

  • regulations.

1.

In addition to any other requirements provided by this chapter, a person who wishes to receive an initial license as a mortgage broker or mortgage agent must:

(a)

Complete education on mortgage lending as required by this chapter and any regulations adopted thereto; and

(b)

Successfully pass a written examination as provided for by the Division.

2.

If the applicant for an initial license as a mortgage broker is not a natural person, the applicant must designate a natural person to be the qualified employee of the applicant and meet the requirements of subsection 1.

3.

The Division may hire a testing organization to create, administer and score a written examination.

4.

The Commissioner shall adopt regulations to carry out the provisions of this section, including, without limitation:

(a)

Regulations relating to the content of a written examination and the scoring of a written examination; and

(b)

Regulations for compliance with the requirements for registration with the Registry and any other applicable federal law.

Source: Section 645B.0137 — Requirements for initial licensing as mortgage company or mortgage loan originator; regulations., https://www.­leg.­state.­nv.­us/NRS/NRS-645B.­html#NRS645BSec0137.

645B.010
Definitions. 645B.012
“Institutional investor” defined. 645B.0102
“Applicant” defined. 645B.0104
“Clerical or ministerial tasks” defined. 645B.0105
“Commissioner” defined. 645B.0107
“Construction control” defined. 645B.0109
“Depository financial institution” defined. 645B.0111
“Division” defined. 645B.0112
“Dwelling” defined. 645B.0113
“Escrow agency” defined. 645B.0115
“Escrow agent” defined. 645B.0117
“Escrow officer” defined. 645B.0119
“Financial services license or registration” defined. 645B.0121
“Investor” defined. 645B.0123
“Licensee” defined. 645B.0124
“Loan processor” defined. 645B.0125
“Mortgage loan originator” defined. 645B.0127
“Mortgage company” defined. 645B.0128
“Nationwide Mortgage Licensing System and Registry” and “Registry” defined. 645B.0129
“Policy of title insurance” defined. 645B.0131
“Relative” defined. 645B.0132
“Residential mortgage loan” defined. 645B.0133
“Title agent” defined. 645B.0135
“Title insurer” defined. 645B.0137
Requirements for initial licensing as mortgage company or mortgage loan originator 645B.0138
Courses of continuing education 645B.0145
Statutory and common-law rights, remedies and punishments unaffected 645B.0147
Fiduciary obligation of licensee to client. 645B.01043
“Commercial mortgage loan” defined. 645B.01047
“Commercial property” defined. 645B.01125
“Employee” defined. 645B.01245
“Majority of the investors” defined. 645B.01305
“Private investor” defined. 645B.01325
“Residential mortgage loan originator” defined. 645B.01356
“Wholesale lender” defined.
Last Updated

Feb. 5, 2021

§ 645B.0137’s source at nv​.us