A mortgage banker is not required to have a licensed location in Nevada if he or she fits the definition of a wholesale lender per NRS 645E.115 and does not directly:
- Take or receive an application from a borrower for a loan which will be secured by a lien on real property;
- Negotiate any terms with a borrower relating to a loan which will be secured by a lien on real property;
- Engage in any other act or transaction described in NRS 645B.0127, unless the person is also licensed as a mortgage broker pursuant to chapter 645B of NRS; or
- Make a loan secured by a lien on real property using his or her own money if any portion of the money that is used to make the loan is provided by another person who acquires ownership of or a beneficial interest in the loan.
(NRS 645E.200) (external link)