645B.0137 - Requirements for initial licensing as mortgage broker or mortgage agent; regulations. - Nevada Statutes

645B.0137  Requirements for initial licensing as mortgage broker or mortgage agent; regulations.

      1.  In addition to any other requirements provided by this chapter, a person who wishes to receive an initial license as a mortgage broker or mortgage agent must:

      (a) Complete education on mortgage lending as required by this chapter and any regulations adopted thereto; and

      (b) Successfully pass a written examination as provided for by the Division.

      2.  If the applicant for an initial license as a mortgage broker is not a natural person, the applicant must designate a natural person to be the qualified employee of the applicant and meet the requirements of subsection 1.

      3.  The Division may hire a testing organization to create, administer and score a written examination.

      4.  The Commissioner shall adopt regulations to carry out the provisions of this section, including, without limitation:

      (a) Regulations relating to the content of a written examination and the scoring of a written examination; and

      (b) Regulations for compliance with the requirements for registration with the Registry and any other applicable federal law.

      (Added to NRS by 2007, 950; A 2009, 2678)