Nev. Admin. Code § 645B.016 - Qualifications of applicant: Required experience

1. An applicant for a license as a mortgage company must have, within the 5 years immediately preceding the date of his or her application, at least 2 years of verifiable experience in the business of lending money for real estate or mortgages.

2. As used in this section, "verifiable experience in the business of lending money for real estate or mortgages" means compensated experience engaging in:

(a) The activities of a mortgage loan originator;

(b) Supervising the activities of one or more mortgage loan originators;

(c) Underwriting or processing mortgage loans;

(d) Making loans secured by real property; or

(e) Any other experience determined to be relevant by the Commissioner.

Notes

Nev. Admin. Code § 645B.016

Comm'r of Savings Associations, Mortgage Reg. § 1, eff. 6-29-82-NAC A by Comm'r of Financial Institutions, 9-1-94; R045-00, 9-5-2000; A by Comm'r of Mortgage Lending by R058-08, 4-23-2009-Substituted in revision for NAC 645B.010; A by R125-16A, eff. 1/27/2017; A by R119-19A, eff. 11/9/2023

NRS 645B.020, 645B.060