FAQ - Mortgage Processors and Underwriters

Mortgage Loan Processors

Who is a loan processor?

A loan processor is a natural person who:

  • Receives, collects, distributes, or analyzes information that is commonly used for the processing of a residential mortgage loan; and
  • Communicates with a consumer to obtain the information necessary for the activities described above.

Activities of a loan processor do not include communication offering or negotiating loan rates or terms or counseling consumers about residential mortgage loan rates or terms.
(NRS 645B.124



Are loan processors required to obtain a mortgage loan originator license?

A loan processor is not required to obtain a mortgage loan originator license with the Division if the loan processor is:

  • A W-2 employee loan processor for a licensed mortgage company. The loan processor must work from a licensed location and be under the direction and supervision of the licensed mortgage company.
  • A W-2 employee loan processor for a loan processing company that has a mortgage company license or has obtained a certificate of exemption. The loan processor must work from a licensed or registered exempt location and be under the direction and supervision of the licensed mortgage loan originator.

A loan processor is required to be licensed as a mortgage loan originator with the Division if the loan processor is:

  • An independent contractor loan processor (receives a 1099) for a licensed mortgage company. The loan processor must work from a licensed location of the mortgage company.
  • An independent contractor loan processor (receives a 1099) for a loan processing company that has a mortgage company license or a certificate of exemption.
  • An owner of a licensed loan processing company that independently contracts (receives a 1099) with licensed mortgage companies to process loans. The W-2 employees and independent contractors (1099 paid workers) must work from a licensed or registered exempt location. The independent contractors (1099 paid workers) must be licensed as mortgage loan originators.


Mortgage Loan Underwriters

Who is a mortgage loan underwriter?

A mortgage loan underwriter is a natural person who performs tasks as an employee at the direction of and subject to the supervision and instruction of a person licensed or exempt from licensing under NRS 645B unless the person who performs these tasks is an independent contractor. 

A mortgage underwriter is a financial specialist who examines your finances and evaluates how much risk a lender will assume if they decide to give you a loan. They will base their report on your credit history, assets, how much you wish to borrow and your anticipated ability to repay the loan.



Are mortgage loan underwriters required to be licensed as a mortgage loan originator?

A loan underwriter is not required to obtain a mortgage loan originator license with the Division if the loan underwriter is:

  • A W-2 employee loan underwriter for a licensed mortgage company. The loan underwriter must work from a licensed location and be under the direction and supervision of the licensed mortgage company.
  • A W-2 employee loan underwriter for a loan processing company that has a mortgage company license or has obtained a certificate of exemption. The loan underwriter must work from a licensed or registered exempt location and be under the direction and supervision of the licensed mortgage loan originator.

A loan underwriter is required to be licensed as a mortgage loan originator with the Division if the loan originator is:

  • An independent contractor loan underwriter (receives a 1099) for a licensed mortgage company. The loan underwriter must work from a licensed location of the mortgage company.
  • An independent contractor loan underwriter (receives a 1099) for a loan processing company that has a mortgage company license or a certificate of exemption.
  • An owner of a licensed loan underwriting company that independently contracts (receives a 1099) with licensed mortgage companies to process loans. The W-2 employees and independent contractors (1099 paid workers) must work from a licensed or registered exempt location. The independent contractors (1099 paid workers) must be licensed as mortgage loan originators.