Nevada Administrative Code
Chapter 645B - Mortgage Brokers and Mortgage Agents
EDUCATIONAL REQUIREMENTS FOR LICENSURE
Section 645B.373 - Requirements for continuing education

Universal Citation: NV Admin Code 645B.373

Current through September 16, 2024

1. To satisfy the requirements for continuing education provided for in subsection 1 of NRS 645B.051 or subsection 1 of NRS 645B.430, a mortgage loan originator or mortgage company must complete at least 8 hours of approved courses of continuing education during the 12 months immediately preceding the date on which the license expires. The 8 hours of approved courses must be comprised of:

(a) Three hours of federal laws and regulations relating to mortgage lending;

(b) Two hours of ethics, which must include, without limitation, instruction on fraud, consumer protection and fair lending issues;

(c) Two hours of training relating to lending standards for nontraditional mortgage products; and

(d) Except as otherwise provided in subsection 6, 1 hour of any elective course approved by the Registry.

2. The Commissioner may accept any hours of training completed in fulfillment of the requirements for a license for another state as hours of training for continuing education in this State if the Commissioner determines that those hours of training meet the requirements of this State.

3. Nothing in this section precludes any approved course that is provided by the employer of the mortgage loan originator or mortgage company, an entity which is affiliated with the mortgage loan originator or mortgage company by an agency contract, or any subsidiary or affiliate of such employer or entity.

4. A licensed mortgage loan originator or mortgage company may not take the same approved course in the same or successive years to meet the annual requirements for continuing education.

5. A licensed mortgage loan originator or mortgage company who is an approved instructor of an approved course may receive credit for the licensed mortgage loan originator's or mortgage company's own annual continuing education requirement at the rate of 2 hours of credit for every 1 hour taught.

6. In lieu of the elective course required by paragraph (d) of subsection 1, a qualified employee shall complete 1 hour in an approved course in Nevada laws and regulations, as set forth in NAC 645B.363.

Added to NAC by Comm'r of Mortgage Lending by R093-09, eff. 10-27-2009; A by R035-10, 7-22-2010; A by R125-16A, eff. 1/27/2017; A by R178-18A, eff. 6/13/2019; A by R119-19A, eff. 11/9/2023

NRS 645B.0137, 645B.0138, 645B.060, 645F.292, 645F.293

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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