Nevada Revised Statutes 645B.740 – Investigations, actions, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license
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The expiration or revocation of a license of a mortgage company or mortgage loan originator by operation of law or by order or decision of the Commissioner or a court of competent jurisdiction, or the voluntary surrender of a license, does not:
Terms Used In Nevada Revised Statutes 645B.740
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
1. Prohibit the Commissioner from initiating or continuing an investigation of, or action or disciplinary proceeding against, the mortgage company or mortgage loan originator as authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto; or
2. Prevent the imposition or collection of any fine or penalty authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto against the mortgage company or mortgage loan originator.