MLD Updates

Escrow Agency Semiannual Reports are Due

Pursuant to NRS 645A.070(2), each Escrow Agency must complete and file with the Commissioner of the Division of Mortgage Lending a semiannual report.

The report, due on October 30, 2018, is for activity for the six-month period of April 1, 2018, through September 30, 2018.

Proposed Regulations of the Division of Mortgage Lending (2018) to amend NAC Chapters 645A, 645B, 645E, and 645F

Based upon certain statutory changes made by the Nevada Legislature in 2017 (see links to Senate Bills 498 and 69 as provided below), the Division has made proposed conforming changes and/or other revisions as required, to Chapters 645A (governing escrow agencies and escrow agents); 645B (governing mortgage brokers and mortgage agents); 645E (governing mortgage bankers); and 645F (governing covered service providers, foreclosure consultants, loan modification consultants, and mortgage servicers) of the Nevada Administrative Code (“NAC”). Click on the following links for the provided text of each proposed regulation in the forms submitted to the Nevada Legislative Counsel Bureau following the Division's publicly noticed workshop held on June 26, 2018.

Each of these draft regulations may also be reviewed on the Nevada Legislature's website pursuant to its Law Library link to the Register of Administrative Regulations.

Assembly Bill 468 and Senate Bill 498

Two industry sponsored bills were signed into law in the 79th (2017) Session of the Nevada Legislature which affect licensees under Nevada Revised Statutes NRS 645B and NRS 645E.

Senate Bill 69

A Governor-sponsored bill was signed into law in the 79th (2017) session of the Nevada Legislature which among other things, requires a regulatory body to adopt regulations providing for issuance of license by endorsement, including the occupations and professions under the jurisdiction of the Division, as governed by NRS chapters 645A, 645B, 645E, and 645F.

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