Qualifications and procedure for issuance of license; fees.
1. To obtain a license as a mortgage agent, a person must:
(a) Be a natural person;
(b) File a written application for a license as a mortgage agent with the Office of the Commissioner;
(c) Comply with the applicable requirements of this chapter; and
(d) Pay an application fee set by the Commissioner of not more than $185.
2. An application for a license as a mortgage agent must:
(a) Be verified;
(b) State the name and residence address of the applicant;
(c) Include a provision by which the applicant gives his written consent to an investigation of his credit history, criminal history and background;
(d) Include a complete set of fingerprints which the Division may forward to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report;
(e) Include a verified statement from the mortgage broker with whom the applicant will be associated that expresses the intent of that mortgage broker to associate the applicant with the mortgage broker and to be responsible for the activities of the applicant as a mortgage agent; and
(f) Include any other information or supporting materials required pursuant to the regulations adopted by the Commissioner or by an order of the Commissioner. Such information or supporting materials may include, without limitation, other forms of identification of the person.
3. Except as otherwise provided in this chapter, the Commissioner shall issue a license as a mortgage agent to an applicant if:
(a) The application complies with the applicable requirements of this chapter; and
(b) The applicant:
(1) Has not been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of mortgage agents or any crime involving fraud, misrepresentation or moral turpitude;
(2) Has not had a financial services license suspended or revoked within the immediately preceding 10 years;
(3) Has not made a false statement of material fact on his application;
(4) Has not violated any provision of this chapter or chapter 645E of NRS, a regulation adopted pursuant thereto or an order of the Commissioner; and
(5) Has a good reputation for honesty, trustworthiness and integrity and displays competence to transact the business of a mortgage agent in a manner which safeguards the interests of the general public. The applicant must submit satisfactory proof of these qualifications to the Commissioner.
4. Money received by the Commissioner pursuant to this section must be deposited in the Fund for Mortgage Lending created by NRS 645F.270.
Last modified: February 27, 2006