Consumer Fraud Prevent Fairs
Consumer Fraud Prevention Fairs are being held in Reno and Las Vegas the first week of March. Flyers are available for download.
Mortgage License Changes
Effective 1/1/2020 all Mortgage Brokers and Bankers are licensed under NRS 645B as Mortgage Companies. All Mortgage Agents are licensed under NRS 645B as Mortgage Loan Originators. This change relates to all licensees, residential and commercial.
Regarding the Federal Temporary Authority to Operate law (S2155)
For more information on Temporary Authority to Operate for licensed individuals regulated by the Division of Mortgage Lending, please refer to the NMLS/CSBS statement. The NMLS has also created a resource for state agencies and loan originators with information and a demonstration video.
URGENT CONSUMER ALERT
The State of Nevada Division of Insurance, has posted a consumer alert about an insurance protection scam. The target is people who have inquired about getting mortgage and are required to get this insurance before they can get the loan.
This has happened in California. Although no incidents have at this time been reported in Nevada, be aware if you are looking to obtain a mortgage.
Reference the provided documents for more information.
Fee Change Announcement
Effective 11/1/2019, the following fee change will take
- New agent application
fee from $185 to $145
- Renewing agent from $165
No other changes in fees have taken place.