MORTGAGE LENDING INDEX

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 Nationwide Mortgage Licensing System Information
NMLS Resource Center Website
NMLS Call Center Phone Number: (240) 386-4444, Open M-F, 6 am to 3 pm PST

 

The State of Nevada went live on the Nationwide Mortgage Licensing System and Registry (NMLS) on October 1, 2010.  Existing licensees were required to transition their licenses onto NMLS by November 19, 2010. (Read the November 18, 2010 and the September 16, 2010 letters below for additional information).

Test and Education Requirements and Certifications:

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires all mortgage agents to complete pre-licensing education and successfully pass both a national and state test component.  The deadline for completion of all components is December 31, 2010.  The Division will suspend the license of any person who is not in compliance with all requirements by the deadline.  (Read the November 1, 2010 letter below for additional information). 

Nevada certified to NMLS mortgage agents who completed their pre-licensing education and passed the PSI test.  NMLS assesses fees to complete the certification process, which must be paid by December 31, 2010, or the mortgage agent will not receive credit and the person must repeat the components at his/her own expense (Read the December 9, 2010 letter below for additional information).

Test and Education Registration:

Mortgage agents must register for the tests and education through NMLS.  Mortgage agents should visit the NMLS Testing page for additional information, including accessing the Nevada test component outline.  The last page of the outline lists the areas in Nevada law that will be included on the test.  If a test is failed, the mortgage agent may not reregister for the test for 30 days.  If failed 4 times, the mortgage agent must wait 6 months before retaking the test. A new fee is assessed for each registration. 

New Applications and Changes:

All new mortgage broker, mortgage banker, exempt companies and mortgage agentsí applications must be filed through NMLS through submissions of MU filings.  Additionally, all amendments to licenseesí records must be submitted through NMLS.  The Nevada State specific requirement page on NMLS contains descriptions of each license type and new application, amendment and surrender instructions.

License renewals:

Nevada will not be utilizing NMLS for license renewals until December 2011.  However, licensees must continue to renew their licenses directly with the Division by their current expiration date.  Mortgage agents must complete 10 hours of continuing education as part of their renewal. (Visit "Hot Topics" on the Divisionís home page for additional information on education requirements)

 

2011

  March 8, 2011- Notice Regarding Change of March 31, 2011 Compliance with SAFE Act (pdf)
  January 3, 2011 Guidance on Handling Agents Who Did Not Meet SAFE Act Requirements (pdf)

2010

  December 29, 2010 - Information on Non-Compliance with Transition onto NMLS or SAFE Act Requirements (pdf)
  December 17, 2010- Information on Actions for Non-Compliance with Safe Act Requirements (pdf)
  December 9, 2010- State Testing and Pre-Licensing Education Certification (pdf)
  November 18, 2010- Clearing NMLS Deficiencies (pdf)
  November 1, 2010- What Happens If I Donít Comply With SAFE Act Requirements (pdf)
 

September 16, 2010 - NMLS Transition Information (pdf)

 

May 25, 2010 - NMLS Testing and Education Requirements FAQ Update (pdf)

 

April 19, 2010 - NMLS General Information Letter (pdf)

 

May 5, 2010 - NMLS Testing & Education Information (pdf)

 

Quick Guide to Create a NMLS ID Number (pdf)

 

Quick Guide to Enroll for a NMLS Test (pdf)

 

 

 

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