645B.0127 - “Mortgage broker” defined. - Nevada Statutes

645B.0127  “Mortgage broker” defined.

      1.  “Mortgage broker” means a person who, directly or indirectly:

      (a) Holds himself or herself out for hire to serve as an agent for any person in an attempt to obtain a loan which will be secured by a lien on real property;

      (b) Holds himself or herself out for hire to serve as an agent for any person who has money to lend, if the loan is or will be secured by a lien on real property;

      (c) Holds himself or herself out as being able to make loans secured by liens on real property;

      (d) Holds himself or herself out as being able to buy or sell notes secured by liens on real property; or

      (e) Offers for sale in this State any security which is exempt from registration under state or federal law and purports to make investments in promissory notes secured by liens on real property.

      2.  The term does not include a person who is licensed as a mortgage banker, as defined in NRS 645E.100, unless the person is also licensed as a mortgage broker pursuant to this chapter.

      (Added to NRS by 1999, 3765; A 2003, 3546)