Who is required to be licensed as a Mortgage Company under NRS 645B?

Any person who wishes to engage in an activity meeting the statutory definition of “mortgage company” with respect to residential or commercial property is required to first obtain a license as a mortgage company under NRS 645B.

The Division requires anyone who is engaging in the activities of NRS 645B.0127 including Lead Generators to be licensed by the Division.

If under NRS 645B.016 a person holds a certificate of exemption, that person is exempt from licensing as a mortgage company per NRS 645B.015.

(NRS 645B.0127)   (NRS 645B.015)   (NRS 645B.016) 

How to Obtain or Renew a License

Residential Mortgage Companies

• Nevada State Specific in NMLS
• Getting Started
• NMLS Quick Guide - Company
• NMLS Quick Guide - Individual

Commercial Mortgage Companies

A mortgage company that conducts only commercial mortgage activity 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. 

Mortgage Loan Originators 

All initial license, renewal applications, and applicable fees for residential mortgage loan originators are submitted to the Division through the Nationwide Multistate Licensing System and Registry (“NMLS”) using the Individual Form). 

Initial license, renewal applications, and applicable fees for commercial only mortgage loan originators are submitted directly to the Division. Pre-licensing education is obtained through the NMLS; continuing education is obtained directly through Division approved education providers or through NMLS approved education providers. 

• Pre-Licensing and Continuing Education
• Pre-Licensing Testing
• NMLS - Nevada State Specific
• Getting Started - Loan Originator
  • Temporary Authority to Operate (Effective November 24, 2019)
• NMLS Quick Guide - Individual

Once You Have Obtained a License

A mortgage company is required to submit a Monthly Activity Report (MAR) of the company's activity on a form approved by the Commissioner.  The Division has provided instructions for completing the report and the report form.

• MLD Form 502 Instructions for Filing Monthly Activity Reports
• In depth Guide for Filing the Monthly Activity Report and FAQs
• MLD 503 Monthly Activity Report Form
• Mortgage Call Reports
• Annual Financial Statement Submission Requirements
• NMLS Annual Financial Statements Submission Link

Amendments to License

• Mortgage Company License Amendment
• Mortgage Loan Originator License Amendment

Not in NMLS (Commercial only - submit to Division Carson City Licensing Office) 

• Notification of Change to Email Address or Contact Information (pdf)
• Designation of Qualified Employee (pdf)
• MLD Form 507 Non-Personal Disclosure Form
• MLD Form 510 Child Support Statement and Personal Disclosure Form
• Request for Approval of Office Closure or Surrender of a License (pdf)
• Change of Association (pdf)

Other Forms and Nevada Specific Disclosures 

• Private Investor Forms and Disclosures
• MLD Form 201 Disclosure of Fees Earned by Mortgage Company
• MLD Form 202 Mortgage Company Surety Bond Form
• MLD Form 504-598D Ability to Repay Income Documentation Worksheet
• MLD Form 505 Dual Capacity Borrower Acknowledgment
• MLD Form 701 Application for Change of Control
• MLD Form 800 Application for Change of Address

Fees

• Fee Schedule
• Supervision Fee Calculator (xlsx)
• NMLS Fees

Advertising Information for Companies that have been licensed for less than 12 months

Companies that have been licensed for less than 12 months must submit advertising using the Advertisement Submission Form.

• MLD Form 200 Advertisement Submission Form (pdf)

Informational Brochures

• Information for Mortgage Loan Originators (pdf)
• Information for Mortgage Companies Brochure

PLEASE REMEMBER TO VISIT THE MLD UPDATES PAGE FOR IMPORTANT INDUSTRY NEWS, INFORMATION AND REMINDERS

• MLD Updates