FAQ - Residential/Commercial Mortgage Loan Originators

Residential/Commercial Mortgage Loan Originators

1. Who needs to obtain a license as a mortgage loan originator under NRS 645B?

Any natural person who meets the following criteria must be licensed as a mortgage loan originator:

  • Is employed by a mortgage company and performs any activity as an employee of the mortgage company that would otherwise require the individual to be licensed as a mortgage company.
  • Is designated as a qualified employee by the mortgage company. 
  • Is a mortgage company or qualified employee who wishes to engage in activities as a mortgage loan originator or to supervise a mortgage loan originator who engages in activities as a mortgage loan originator. (NRS 645B.405)
  • Is a residential/commercial mortgage loan originator.
  • A loan processor who is an independent contractor (not an employee) and who is associated with, or has received an offer of a contract with, a mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016.
  • Any individual, who, on behalf of an installment loan lender licensed under Chapter 675 of NRS, takes a residential mortgage loan application or negotiates terms of a residential mortgage loan related to a mobile or manufactured home.
  • Any individual who is authorized to engage in the activities of a residential mortgage loan originator on behalf of a privately insured institution or organization licensed under Chapter 55 or 56 of NRS.

(NRS 645B.0125)



2. What is a residential mortgage loan originator?

A residential mortgage loan originator is a natural person who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or other pecuniary gain.

A residential mortgage loan originator does not include:

  • A loan processor, underwriter, or other natural person who performs clerical or ministerial 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 such clerical or ministerial tasks is an independent contractor; or
  • A person solely involved in extensions of credit relating to timeshare plans

(NRS 645B.01325)



3. How do I apply for a residential mortgage loan originator license?

To obtain a license as a mortgage agent, a person must:

  • Be a natural person;
  • File a written application for a license as a mortgage loan originator with the Office of the Commissioner through the NMLS utilizing the MU-4 Form;
  • Comply with the applicable requirements of NRS 645B; and
  • Pay an application fee set by the Commissioner.
  • Deposit and maintain a corporate surety bond.

In addition, a person must

  • Be employed by, or have received an offer of employment from, a mortgage company;
  • Be associated with or employed by, or have received an offer of a contract with or an offer of employment from, a person who holds a certificate of exemption pursuant to NRS 645B.016 

A person who wishes to receive an initial license as a mortgage company must:

  • Complete at least 30 hours of instruction in approved courses from the subjects set forth in NAC 645B.363;
  • Successfully pass the National Test Component and State Components of the S.A.F.E. MLO Test;
  • Give written consent for an investigation of his or her credit history, criminal history, and background;
  • All Control Persons are required to authorize a background investigation. Each Control Person is required to submit a fingerprint card and a NV Civil Applicant Waiver (pdf);
  • Include a verified statement from the mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 with whom the applicant will be associated or employed which accepts responsibility for the activities of the applicant as a mortgage loan originator.
  • Be covered by the surety bond held by the sponsoring entity.


For help with the NMLS mortgage agent application, see the Individual New Application Agency Requirements Checklist or the Quick Guide for Submitting a Complete Individual Form on the NMLS Website.
(NRS 645B.0137; NRS 645B.042; NRS 645B.410)



4. Can a mortgage loan originator work for more than one licensee or exempt company?

No. A person licensed as a mortgage loan originator may not be associated with or employed by more than one licensed or registered mortgage company or person who holds a certificate of exemption at the same time.
[NRS 645B.450(1)(2)]


5. How do I change or terminate an association or sponsorship for a mortgage loan originator?

If a mortgage loan originator terminates his or her association or employment with a mortgage company or exempt person who holds a certificate of exemption pursuant to NRS 645B.016 for any reason, the mortgage company or person who holds a certificate of exemption must, not later than the third business day following the date of termination:

  • Remove its sponsorship of the mortgage loan originator from the Registry (NMLS); or
  • If the mortgage loan originator is not required to be registered with the Registry, deliver to the Division and to the mortgage loan originator at the last known residence address of the mortgage loan originator a written statement which includes the name, address, and license number of the mortgage loan originator and a statement of the circumstances of the termination.

Sponsorships can only be initiated by a company, but may be removed by the company or the individual through NMLS. NMLS automatically notifies the Division when the sponsorship is removed.

For more information on how to navigate changes in association or sponsorship in the NMLS, please review the Help Document for Modifying an Active Relationship on the NMLS Website.
[NRS 645B.450(3)]



6. Is a license required to conduct mortgage loan originator activity related to commercial real estate?

Yes. A person who conducts the activity of a mortgage loan originator in relation to commercial real estate is required to obtain and maintain a mortgage loan originator license and be employed and sponsored with a licensed mortgage company or a person who holds a certificate of exemption.
(NRS 645B.0127)


7. Are there any exemptions to the licensing requirements for residential mortgage loan originators under NRS 645B?

Yes. The following individuals are not required to obtain a license as a mortgage loan originator:
1. A person who performs only clerical or ministerial 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 such clerical or ministerial tasks is an independent contractor. “Clerical or ministerial tasks” is defined in NRS 645B.0104.
2. A natural person who only offers or negotiates terms of a residential mortgage loan:

a) with or on behalf of an immediate family member of the person;

b) secured by a dwelling that served as the person’s residence; or

c) if:

the residential mortgage loan is for a manufactured home, as defined in NRS 118B.015; 

the residential mortgage loan is financed by the seller; and 

the seller has not engaged in more than five such loans in this State during the immediately preceding 12 consecutive months. 

3. A person solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. 101(53D).
4. A person or entity which only performs real estate brokerage activity and which is licensed or registered in accordance with Nevada law, unless the person or entity is compensated by a lender, mortgage company or other residential mortgage loan originator or by any agent of such lender, mortgage company or other residential mortgage loan originator. 


Regarding Questions about the Temporary Authority to Operate (Temporary Authority) for Mortgage Loan Originators

Where do I get information on S2155?

The Division is developing a position statement on this law. In the meantime, please refer to the NMLS/CSBS statement .

If you have any further questions, please contact the Division at (702) 486-0782.