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Types of Home Mortgage Licenses in Nevada Nevada has three primary state license types: Business, Branch, and Person.  Keep Checking Back Here  depends on the work you are going to perform. The mortgage licenses are typically divided into Home loan Bankers, Home Mortgage Brokers, and Mortgage Servicers. In this guide, we'll cover the most common licenses only.

Most Typical Company Licenses Home Mortgage Lender License - needed of entities that make domestic and/or commercial loans utilizing their own funding or entities who make, negotiate, or originate industrial mortgage on behalf of an institutional financier. Note that you are also needed to have an in-state workplace if you directly take or get application forms or work out any terms of the mortgage with debtors.

Home Loan Broker License - allows entities to obtain/make residential and business loans on behalf of debtors, along with take and get loan applications. Keep in mind that applicants, who directly take or receive application kinds or work out any terms of the home mortgage loans with customers, are needed to have an in-state office.

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Mortgage Servicer License - required of anyone who straight services property or industrial loans on properties located within Nevada or anyone who handles a home loan account day-to-day or is accountable for connecting with debtors. Supplemental Mortgage Servicer License - permits licensed Mortgage Bankers and Home mortgage Brokers to engage in third-party very first home mortgage maintenance.

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Note that entities holding this license can only provide services related to home loan that the licensee did not make under their qualifying license (Home mortgage Banker or Broker). Nevada State Requirements All license applications are to be sent online through NMLS. Please keep in mind that some agency-specific requirements, such as the Designation of Qualified Worker form, require to be mailed directly to the Division at Division of Home Loan Lending, Licensing Office, 1830 College Parkway, Suite 100, Carson City, NV 89706.

For NMLS-related concerns, please contact their call center at (855) 665-7123. Education and Examinations Passing an exam is required for some, however not all license types. In the state of Nevada, you don't need to finish a pre-license course or pass an assessment to get a business license. NV Home Loan Broker Bonds Bonds for Business Licenses Mortgage Banker License - All Home mortgage Banker candidates are required to submit a surety bond by means of NMLS.