Mortgage Bankers - NRS 645E
Who is required to be licensed as a Mortgage Banker under NRS 645E?
Any person who wishes to engage in any activity meeting the statutory definition of “mortgage banker” with respect to residential or commercial property is required to first obtain a license as a mortgage banker under NRS 645E, unless the person is exempt from licensure under NRS 645E.150 and holds a certificate of exemption under NRS 645E.160. For additional information concerning exemptions and obtaining a certificate of exemption, see Exemptions.
How to Obtain or Renew a License
Residential Mortgage Bankers
All initial license and renewal applications and applicable fees for residential mortgage bankers are submitted to the Division through the Nationwide Multistate Licensing System and Registry (“NMLS”) using the Company Form (MU-1 Form) for the principal office and the Branch Form (MU-3 Form) for each branch location. Nevada law requires each licensed mortgage banker to have at least one licensed office located in this state.
Additional Information concerning the requirements to obtain a residential mortgage banker license and application materials may be obtained here.
Commercial Mortgage Bankers
A mortgage banker that only conducts commercial mortgage activity (loans secured by real property other than a dwelling) may submit its application for licensure or renewal and applicable fees directly to the Division. The application and further instruction may be obtained by contacting the Division.
Once You Have Obtained a License
A monthly activity report of all closed mortgage loan transactions for each license held with the Division is required. These reports must be submitted as an e-mail attachment in Excel Format (Excel 1997-2003) as the Division's database cannot accept a newer version.
Amendments to License
Not in NMLS (Commercial only) (submit to Division's Carson City Licensing Office):
Other Forms and Nevada Specific Disclosures