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Nevada Mortgage Broker License: Step-by-Step Guide

In the state of Nevada, anyone engaged in the business of servicing, making, and brokering consumer or residential mortgage loans must be licensed. The Nevada Department of Business and Industry - Division of Mortgage Lending supervises and issues all mortgage licenses.

The license application process is handled by the Nationwide Mortgage Licensing System (NMLS). NMLS allows mortgage companies or loan originators to apply, update, or renew a license online.

Types of Mortgage Licenses in Nevada

Nevada has three main state license types: Company, Branch, and Individual. Each license type depends on the work you are going to perform. The mortgage licenses are generally divided into Mortgage Bankers, Mortgage Brokers, and Mortgage Servicers.

In this guide, we’ll cover the most common licenses only. You can review the full list on the NMLS website.

Most Common Company Licenses

  • Mortgage Banker License - required of entities that make residential and/or commercial loans using their own financing or entities who make, negotiate, or originate commercial mortgage loans on behalf of an institutional investor. Note that you are also required to have an in-state office if you directly take or receive application forms or negotiate any terms of the mortgage loans with borrowers . For further information, as well as the complete description, please visit the NMLS website.
  • Mortgage Broker License - allows entities to obtain/make residential and commercial loans on behalf of borrowers, as well as take and receive loan applications. Note that applicants, who directly take or receive application forms or negotiate any terms of the mortgage loans with borrowers, are required to have an in-state office. For further information, as well as the complete description, please visit the NMLS website.
  • Mortgage Servicer License - required of anyone who directly services residential or commercial loans on properties located within Nevada or anyone who manages a mortgage loan account daily or is responsible for interacting with borrowers.
  • Supplemental Mortgage Servicer License - allows licensed Mortgage Bankers and Mortgage Brokers to engage in third-party first mortgage servicing. Licensees can directly service mortgage loans on NV properties or manage a mortgage loan account daily or be responsible for interacting with borrowers. Note that entities holding this license can only provide services related to mortgage loans that the licensee did not make under their qualifying license (Mortgage Banker or Broker).

Nevada State Requirements

All license applications are to be submitted online via NMLS. Please note that some agency-specific requirements, such as the Designation of Qualified Employee form, need to be mailed directly to the Division at Division of Mortgage Lending, Licensing Office, 1830 College Parkway, Suite 100, Carson City, NV 89706.

For further information regarding the license requirements, you may contact NV Division of Mortgage Lending at (775) 684-7060.

For NMLS-related questions, please contact their call center at (855) 665-7123.

Education and Exams

Passing an exam is obligatory for some, but not all license types. In the state of Nevada, you don’t need to complete a pre-license course or pass an examination to get a company license.

NV Mortgage Broker Bonds

Bonds for Company Licenses

  • Mortgage Banker License - All Mortgage Banker applicants are required to submit a surety bond via NMLS. The amount depends on the annual loan production of the applicant.
    • $50,000 surety bond for annual loan production of $20,000,000 or less.
    • $75,000 surety bond for annual loan production exceeding $20,000,000.
  • Mortgage Broker License - Applicants must furnish a surety bond via NMLS. The amount depends on the annual loan production of the applicant.
    • $50,000 surety bond for annual loan production of $20,000,000 or less.
    • $75,000 surety bond for annual loan production exceeding $20,000,000.
  • Mortgage Servicer License - All license applicants are required to upload a surety bond in NMLS. The amount of the bond depends on the applicant’s mortgage servicing volume per year.
    • $100,000 surety bond for volume up to $50,000,000.
    • $200,000 surety bond for volume between $50,000,000 - $500,000,000.
    • $300,000 surety bond for volume that exceeds $500,000,000.
  • Supplemental Mortgage Servicer License - Applicants must submit a surety bond through NMLS. The bond amount depends on the applicant’s mortgage servicing volume per year.
    • $100,000 surety bond for volume up to $50,000,000.
    • $200,000 surety bond for volume between $50,000,000 - $500,000,000.
    • $300,000 surety bond for volume that exceeds $500,000,000.

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Licensing Fees

Fees for Company Licenses

The fees must be submitted via NMLS and are not refundable or transferable.

  • Mortgage Banker License
    • $2,500 application fee.
    • $100 NMLS processing fee.
    • $15 credit report (if required).
    • $36.25 background check.
  • Mortgage Broker License
    • $2,500 application fee.
    • $100 NMLS processing fee.
    • $15 credit report (if required).
    • $36.25 background check.
  • Mortgage Servicer License
    • $2,500 application fee.
    • $100 NMLS processing fee.
    • $15 credit report (if required).
    • $36.25 background check.
  • Supplemental Mortgage Servicer License
    • $1,000 application fee.
    • $100 NMLS processing fee.
    • $36.25 background check.

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