reglab/housing_qa huggingface dataset:
NV Rev Stat § 645B.0132 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0132 - "Residential mortgage loan" defined.

Residential mortgage loan means any loan primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling or residential real estate upon which is constructed or intended to be constructed a dwelling.  (Added to NRS by 2009, 2677; A 2011, 3606)
NV Rev Stat § 645B.01325 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.01325 - "Residential mortgage loan originator" defined.

Residential mortgage loan originator means a natural person who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or other pecuniary gain. The term does not include:  1. A loan processor, underwriter or other natural person who performs clerical or ministerial tasks as an employee at the direction of and subject to the supervision and instruction of a person licensed or exempt from licensing under this chapter, unless the person who performs such clerical or ministerial tasks is an independent contractor; or  2. A person solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. § 101(53D).  (Added to NRS by 2009, 2677; A 2013, 114)
NV Rev Stat § 645B.0133 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0133 - "Title agent" defined.

Title agent has the meaning ascribed to it in NRS 692A.060.  (Added to NRS by 1999, 3766)
NV Rev Stat § 645B.0135 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0135 - "Title insurer" defined.

Title insurer has the meaning ascribed to it in NRS 692A.070.  (Added to NRS by 1999, 3766)
NV Rev Stat § 645B.01356 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.01356 - "Wholesale lender" defined.

Wholesale lender means a person who:  1. Holds himself or herself out:  (a) For hire to serve as an agent for any person who has money to lend, if the loan is or will be secured by a lien on real property;  (b) As being able to make loans secured by liens on real property; or  (c) As being able to buy or sell notes secured by liens on real property; and  2. Does not directly:  (a) Take or receive an application from a borrower for a loan which will be secured by a lien on real property; or  (b) Negotiate any terms with a borrower relating to a loan which will be secured by a lien on real property.  (Added to NRS by 2015, 2797)
NV Rev Stat § 645B.0137 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0137 - Requirements for initial licensing as mortgage broker or mortgage agent; regulations. [Effective through December 31, 2019.]

  1. In addition to any other requirements provided by this chapter, a person who wishes to receive an initial license as a mortgage broker or mortgage agent must:  (a) Complete education on mortgage lending as required by this chapter and any regulations adopted thereto; and  (b) Successfully pass a written examination as provided for by the Division.  2. If the applicant for an initial license as a mortgage broker is not a natural person, the applicant must designate a natural person to be the qualified employee of the applicant and meet the requirements of subsection 1.  3. The Division may hire a testing organization to create, administer and score a written examination.  4. The Commissioner shall adopt regulations to carry out the provisions of this section, including, without limitation:  (a) Regulations relating to the content of a written examination and the scoring of a written examination; and  (b) Regulations for compliance with the requirements for registration with the Registry and any other applicable federal law.  (Added to NRS by 2007, 950; A 2009, 2678)
NV Rev Stat § 645B.0137 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0137 - Requirements for initial licensing as mortgage company or mortgage loan originator; regulations. [Effective January 1, 2020.]

  1. In addition to any other requirements provided by this chapter, a person who wishes to receive an initial license as a mortgage company or mortgage loan originator must:  (a) Complete education on mortgage lending as required by this chapter and any regulations adopted thereto; and  (b) Successfully pass a written examination as provided for by the Division.  2. If the applicant for an initial license as a mortgage company is not a natural person, the applicant must designate a natural person to be the qualified employee of the applicant and meet the requirements of subsection 1.  3. The Division may hire a testing organization to create, administer and score a written examination.  4. The Commissioner shall adopt regulations to carry out the provisions of this section, including, without limitation:  (a) Regulations relating to the content of a written examination and the scoring of a written examination; and  (b) Regulations for compliance with the requirements for registration with the Registry and any other applicable federal law.  (Added to NRS by 2007, 950; A 2009, 2678; 2017, 3037, effective January 1, 2020)
NV Rev Stat § 645B.0138 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0138 - Courses of continuing education; regulations. [Effective through December 31, 2019.]

  1. A course of continuing education that is required pursuant to this chapter must meet the requirements set forth by the Commissioner by regulation.  2. The Commissioner shall adopt regulations:  (a) Relating to the requirements for courses of continuing education, including, without limitation, regulations relating to the providers and instructors of such courses, records kept for such courses, approval and revocation of approval of such courses, monitoring of such courses and disciplinary action taken regarding such courses.  (b) Allowing for the participation of representatives of the mortgage lending industry pertaining to the creation of regulations regarding such courses.  (c) Ensuring compliance with the requirements for registration with the Registry and any other applicable federal law.  3. The regulations adopted by the Commissioner pursuant to subsection 2 must not require a mortgage agent, mortgage banker or mortgage broker or an employee of a mortgage banker or mortgage broker who, pursuant to subsection 1 of NRS 645F.267, is not required to register or renew with the Registry and who has not voluntarily registered or renewed with the Registry to complete any continuing education relating to residential mortgage loans.  (Added to NRS by 2007, 951; A 2009, 2678; 2011, 1389)
NV Rev Stat § 645B.0138 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0138 - Courses of continuing education; regulations. [Effective January 1, 2020.]

  1. A course of continuing education that is required pursuant to this chapter must meet the requirements set forth by the Commissioner by regulation.  2. The Commissioner shall adopt regulations:  (a) Relating to the requirements for courses of continuing education, including, without limitation, regulations relating to the providers and instructors of such courses, records kept for such courses, approval and revocation of approval of such courses, monitoring of such courses and disciplinary action taken regarding such courses.  (b) Allowing for the participation of representatives of the mortgage lending industry pertaining to the creation of regulations regarding such courses.  (c) Ensuring compliance with the requirements for registration with the Registry and any other applicable federal law.  3. The regulations adopted by the Commissioner pursuant to subsection 2 must not require a mortgage loan originator or mortgage company or an employee of a mortgage company who, pursuant to subsection 1 of NRS 645F.267, is not required to register or renew with the Registry and who has not voluntarily registered or renewed with the Registry to complete any continuing education relating to residential mortgage loans.  (Added to NRS by 2007, 951; A 2009, 2678; 2011, 1389; 2017, 3038, effective January 1, 2020)
NV Rev Stat § 645B.0145 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0145 - Statutory and common-law rights, remedies and punishments unaffected; limitation on actions against State and its officers and employees. [Effective through December 31, 2019.]

The provisions of this chapter do not:  1. Limit any statutory or common-law right of a person to bring a civil action against a mortgage broker or mortgage agent for any act or omission involved in the transaction of business by or on behalf of the mortgage broker or mortgage agent;  2. Limit the right of the State to punish a person for the violation of any law, ordinance or regulation; or  3. Establish a basis for a person to bring a civil action against the State or its officers or employees for any act or omission in carrying out the provisions of this chapter, including, without limitation, any act or omission relating to the disclosure of information or the failure to disclose information pursuant to the provisions of this chapter.  (Added to NRS by 1973, 1543; A 1999, 3801)
NV Rev Stat § 645B.0145 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0145 - Statutory and common-law rights, remedies and punishments unaffected; limitation on actions against State and its officers and employees. [Effective January 1, 2020.]

The provisions of this chapter do not:  1. Limit any statutory or common-law right of a person to bring a civil action against a mortgage company or mortgage loan originator for any act or omission involved in the transaction of business by or on behalf of the mortgage company or mortgage loan originator;  2. Limit the right of the State to punish a person for the violation of any law, ordinance or regulation; or  3. Establish a basis for a person to bring a civil action against the State or its officers or employees for any act or omission in carrying out the provisions of this chapter, including, without limitation, any act or omission relating to the disclosure of information or the failure to disclose information pursuant to the provisions of this chapter.  (Added to NRS by 1973, 1543; A 1999, 3801; 2017, 3038, effective January 1, 2020)
NV Rev Stat § 645B.0147 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0147 - Fiduciary obligation of licensee to client.

  1. In addition to any other duties set forth in this chapter, any person licensed pursuant to this chapter has a fiduciary obligation to a client.  2. For the purposes of this section, a person’s fiduciary obligation does not impose a requirement to offer or obtain access to loan products or services for a client other than those that are offered by the person at the time of the transaction.  3. As used in this section, "fiduciary obligation" means a duty of good faith and fair dealing, including, without limitation, the duty to:  (a) Act in the client’s best interest;  (b) Conduct only those mortgage transactions which are suitable for the client’s needs;  (c) Disclose any financial, business, professional or personal interest the person has in conducting a mortgage transaction for the client;  (d) Disclose any material fact that the person knows or should know may affect the client’s rights or interests or the ability to obtain the intended benefit from the mortgage transaction;  (e) Provide an accounting to the client that lists all money and property received from the client;  (f) Not accept or collect any fee for services rendered unless the fee was disclosed to the client before the service is provided; and  (g) Exercise reasonable care in performing any other duty relating to a mortgage transaction.  (Added to NRS by 2009, 745)
NV Rev Stat § 645B.0149 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0149 - Inapplicability to wholesale lender who only funds or purchases commercial mortgage loans. [Effective January 1, 2020.]

The provisions of this chapter do not apply to a wholesale lender who only funds or purchases commercial mortgage loans.  (Added to NRS by 2019, 875, effective January 1, 2020)
NV Rev Stat § 645B.018 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.018 - Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking.

  1. A person may apply to the Commissioner for an exemption from the provisions of this chapter governing the making of a loan of money, except that an exemption may not be issued for the making of a residential mortgage loan.  2. The Commissioner may grant the exemption if the Commissioner finds that:  (a) The making of the loan would not be detrimental to the financial condition of the lender, the debtor or the person who is providing the money for the loan;  (b) The lender, the debtor or the person who is providing the money for the loan has established a record of sound performance, efficient management, financial responsibility and integrity;  (c) The making of the loan is likely to increase the availability of capital for a sector of the state economy; and  (d) The making of the loan is not detrimental to the public interest.  3. The Commissioner:  (a) May revoke an exemption unless the loan for which the exemption was granted has been made; and  (b) Shall issue a written statement setting forth the reasons for his or her decision to grant, deny or revoke an exemption.  (Added to NRS by 1989, 965; A 1999, 3800; 2009, 2678)
NV Rev Stat § 645B.019 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.019 - Creation; members; appointment; terms and vacancies; no compensation or per diem allowance; protections afforded members who are public officers or employees.

  1. The Advisory Council on Mortgage Investments and Mortgage Lending is hereby created.  2. The Advisory Council consists of five members appointed by the Legislative Commission from a list of persons provided by the Commissioner.  3. The members of the Advisory Council:  (a) Must be persons who have experience with, an interest in or a knowledge of issues relating to mortgage investments or mortgage lending. Such persons may include, without limitation, investors, public officers and employees, licensees and persons who have engaged in or been involved with any business, profession or occupation relating to mortgage investments or mortgage lending.  (b) Serve terms of 2 years and at the pleasure of the Legislative Commission.  (c) May be reappointed.  (d) Serve without compensation and may not receive a per diem allowance or travel expenses.  4. Any vacancy in the membership of the Advisory Council must be filled for the remainder of the unexpired term in the same manner as the original appointment.  5. A member of the Advisory Council who is an officer or employee of this State or a political subdivision of this State must be relieved from his or her duties without loss of his or her regular compensation so that the member may prepare for and attend meetings of the Advisory Council and perform any work necessary to carry out the duties of the Advisory Council in the most timely manner practicable. A state agency or political subdivision of this State shall not require an officer or employee who is a member of the Advisory Council to make up the time the officer or employee is absent from work to carry out his or her duties as a member of the Advisory Council or use annual vacation or compensatory time for the absence.  6. Notwithstanding any other provision of law, a member of the Advisory Council:  (a) Is not disqualified from public employment or holding a public office because of his or her membership on the Advisory Council; and  (b) Does not forfeit his or her public office or public employment because of his or her membership on the Advisory Council.  (Added to NRS by 1999, 3766) — (Substituted in revision for NRS 645B.860)
NV Rev Stat § 645B.0191 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0191 - Chair and Vice Chair; meetings; quorum; subcommittees.

  1. The members of the Advisory Council on Mortgage Investments and Mortgage Lending shall elect a Chair and a Vice Chair from among their membership. The Vice Chair shall perform the duties of the Chair during any absence of the Chair.  2. The Advisory Council may meet at least once each calendar quarter and at other times on the call of the Chair or a majority of its members.  3. The meetings of the Advisory Council may be held at any location designated by the Chair or a majority of its members.  4. A majority of the members of the Advisory Council constitutes a quorum for the transaction of all business.  5. The Chair may appoint subcommittees of the members of the Advisory Council to consider specific problems relating to mortgage investments or mortgage lending.  (Added to NRS by 1999, 3767) — (Substituted in revision for NRS 645B.865)
NV Rev Stat § 645B.0192 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.0192 - Purpose.

The purpose of the Advisory Council on Mortgage Investments and Mortgage Lending is to:  1. Consult with, advise and make recommendations to the Commissioner in all matters relating to mortgage investments and mortgage lending.  2. Make recommendations to the Legislature concerning the enactment of any legislation relating to mortgage investments and mortgage lending.  3. Make recommendations to the Legislature and the Commissioner concerning educational requirements and other qualifications for persons who are engaged in any business, profession or occupation relating to mortgage investments and mortgage lending.  4. Conduct hearings, conferences and special studies on all matters relating to mortgage investments and mortgage lending.  5. Provide a forum for the consideration and discussion of all matters relating to mortgage investments and mortgage lending.  6. Gather and disseminate information relating to mortgage investments and mortgage lending.  7. Engage in other activities that are designed to promote, improve and protect the reliability and stability of mortgage investments and mortgage lending in this State.  (Added to NRS by 1999, 3767) — (Substituted in revision for NRS 645B.870)
NV Rev Stat § 645B.021 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.021 - Mortgage broker who is not natural person to designate natural person as qualified employee; regulations. [Effective through December 31, 2019.]

  1. If a mortgage broker is not a natural person, the mortgage broker must designate a natural person as a qualified employee to act on behalf of the mortgage broker.  2. The Division shall adopt regulations regarding a qualified employee, including, without limitation, regulations that establish:  (a) A definition for the term "qualified employee";  (b) Any duties of a qualified employee; and  (c) Any requirements regarding a qualified employee.  (Added to NRS by 2007, 950)
NV Rev Stat § 645B.021 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.021 - Mortgage company who is not natural person to designate natural person as qualified employee; regulations. [Effective January 1, 2020.]

  1. If a mortgage company is not a natural person, the mortgage company must designate a natural person as a qualified employee to act on behalf of the mortgage company.  2. The Division shall adopt regulations regarding a qualified employee, including, without limitation, regulations that establish:  (a) A definition for the term "qualified employee";  (b) Any duties of a qualified employee; and  (c) Any requirements regarding a qualified employee.  (Added to NRS by 2007, 950; A 2017, 3041, effective January 1, 2020)
NV Rev Stat § 645B.023 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.023 - Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [Effective until the earlier of January 1, 2020, or the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

  1. In addition to any other requirements set forth in this chapter:  (a) A natural person who applies for the issuance of a license as a mortgage broker shall include the social security number of the applicant in the application submitted to the Commissioner.  (b) A natural person who applies for the issuance or renewal of a license as a mortgage broker shall submit to the Commissioner the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.  2. The Commissioner shall include the statement required pursuant to subsection 1 in:  (a) The application or any other forms that must be submitted for the issuance or renewal of the license; or  (b) A separate form prescribed by the Commissioner.  3. A license as a mortgage broker may not be issued or renewed by the Commissioner if the applicant is a natural person who:  (a) Fails to submit the statement required pursuant to subsection 1; or  (b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.  4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.  (Added to NRS by 1997, 2170; A 1999, 3782; 2005, 2783, 2807, 2810)