WBK Industry News - State Regulatory Developments

Nevada Amends Certain Licensing Regulations

Nevada’s amended regulations, which were adopted by the Division of Mortgage Lending, regarding, among other things, the requirements related to surrendering certain licenses, recently became effective.  Under the amended regulations, licensees, including mortgage companies, covered providers, and mortgage servicers, no longer are required to return their paper licenses when changing or closing principal or branch locations, or when surrendering a license.

Other changes include, but are not limited to, for mortgage companies and mortgage loan originators:

  • Revising the disclosure provided to consumers when also acting in the capacity of a real estate broker; and
  • Allowing challenges to information the Division posts on NMLS through email, in addition to regular mail.  

The amended regulations became effective on February 27, 2024.