Nev. Admin. Code § 645F.981 - Reporting of disciplinary action or other similar action and filing of bankruptcy petition to Commissioner

1. A mortgage servicer shall report to the Commissioner any disciplinary or enforcement action, denial of an application for a license or registration, settlement agreement or other similar action involving the mortgage servicer and another state or federal regulator. The mortgage servicer shall file a report with the Commissioner within 10 days after the action, in a manner prescribed by the Commissioner.

2. A mortgage servicer shall report to the Commissioner any bankruptcy petitions filed by or against the mortgage servicer. The mortgage servicer shall file the report with the Commissioner within 10 days after the bankruptcy petition is filed, in a manner prescribed by the Commissioner.

Notes

Nev. Admin. Code § 645F.981

Added to NAC by Comm'r of Mortgage Lending by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.

NRS 645F.255 and section 86.4 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2806