Nevada Revised Statutes 645F.267 – Certain persons not required to register or renew with or provide reports of financial condition to Registry; certain persons required to comply with Secure and Fair Enforcement for Mortgage Licensing Act of 2008
1. A mortgage loan originator, mortgage company or mortgage servicer or an employee of a mortgage company or mortgage servicer is not required to register or renew with the Registry, or provide reports of financial condition to the Registry, if the mortgage loan originator, mortgage company or mortgage servicer or employee:
Terms Used In Nevada Revised Statutes 645F.267
- 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
(a) Is not a residential mortgage loan originator or the supervisor of a residential mortgage loan originator; and
(b) Is not required to register pursuant to the provisions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
2. A mortgage loan originator, mortgage company or mortgage servicer or an employee of a mortgage company or mortgage servicer who, pursuant to subsection 1, is not required to register or renew with the Registry and who voluntarily registers or renews with the Registry shall comply with all requirements of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, and any regulations adopted pursuant thereto.
3. As used in this section, ‘residential mortgage loan originator’ has the meaning ascribed to it in NRS 645B.01325.