The Nevada Division of
Mortgage Lending (MLD) enforces the statutes and regulations that pertain to Mortgage
Brokers. Offices are located in Las Vegas and Carson City. Anyone who conducts
the business of a Mortgage Broker must maintain at least one office within the state.
Licensed Mortgage Brokers may hold a Mortgage Banker's License, and a Licensed Mortgage
Banker may hold a Mortgage Broker's License in Nevada.
Applicants for a Mortgage Broker in Nevada pay a non-refundable $1,500
application fee. A Surety Bond in the amount of $50,000 is required for the main office,
and $25,000 for each additional office. After the application has been approved, the
new Mortgage Broker pays a $1,000 license fee. For additional fees, click here.
Brokers are required to have at least 30 hours of pre-licensing education at an approved school prior to taking
the exam at an approved school, and at least 15 of those hours must be live instruction
When renewing their license, Mortgage Brokers must complete at least 10 hours of
approved continuing education courses during the year. PSI Exams has been contracted with by the Division to
administer the exams.
Items that need to accompany the application are a complete Personal History Record, a
Personal Financial Questionnaire, Financial Statements (one dated within 3 months of the
application plus the two prior years), a Child Support Statement, and two complete
fingerprint cards. The Mortgage Licensing Division will conduct a background investigation
on the applicant.
After becoming licensed as a Mortgage Broker in Nevada, the Mortgage Licensing Division
must approve all proposed Internet web pages.
All internet-based mortgage brokers are required to be licensed in Nevada in order to
transact business within the state. Only licensed Mortgage Brokers or Mortgage Bankers may
accept application requests by Nevada residents when the applications are obtained via an
Internet Site. Unlicensed companies actually conducting mortgage business in the state, or
implying that they are able to conduct mortgage business through internet sites can be
subject to fines not to exceed $10,000 per violation.
The Nevada Association of
Mortgage Brokers (NVAMB)
is an affiliate of the National
Association of Mortgage Brokers
(NAMB). The organizations are dedicated to improving
the business of real estate finance and are an excellent resource for those who desire to
become a Mortgage Broker in Nevada.