Nevada Administrative Code › Chapter 645F - Mortgage Lending and Related Professions › NEVADA MORTGAGE SERVICER REGULATIONS › Supervision by Commissioner › Section 645F.965 - Powers and duties of Commissioner

Current through June 11, 2024
1. Subject to the
						administrative control of the Director of the Department of Business and
						Industry, the Commissioner will exercise general supervision and control over
						all mortgage servicers governed by chapter 645F of NRS and the Nevada Mortgage
						Servicer Regulations.
2. In
						addition to the other duties imposed upon him or her by law, and except as
						otherwise provided in section 86.6 of Assembly Bill No. 480, chapter 477,
						Statutes of Nevada 2015, at page 2807, the Commissioner may:
(a) Require that any application for the
						initial issuance or renewal of a license or the submission of any report or
						filing required pursuant to chapter 645F of NRS and the Nevada Mortgage
						Servicer Regulations be submitted directly to the Division or to the Division
						through the Registry.
(b) Require
						that any fee or administrative fine due or assessment levied pursuant to
						chapter 645F of NRS and the Nevada Mortgage Servicer Regulations be submitted
						directly to the Division or to the Division through the Registry.
(c) Issue or approve or refuse to issue or
						approve a license, an amendment to a license or transfer of a license as
						provided in chapter 645F of NRS and the Nevada Mortgage Servicer
						Regulations.
(d) Revoke, suspend or
						place conditions on a license as provided in chapter 645F of NRS and the Nevada
						Mortgage Servicer Regulations.
(e)
						Impose administrative fines and assess administrative fees or assessments or
						attorney's fees as provided in chapter 645F of NRS and the Nevada Mortgage
						Servicer Regulations or under applicable law.
(f) Impose any other discipline as provided
						in chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.
(g) Bring an action in any county in this
						State to enforce an order or subpoena issued under chapter 645F of NRS and the
						Nevada Mortgage Servicer Regulations.
(h) Advise the Attorney General or
						prosecuting attorney of any county in this State that a mortgage servicer is
						conducting business or engaging in any activity that violates chapter 645F of
						NRS or the Nevada Mortgage Servicer Regulations.
(i) Conduct such examinations or
						investigations as may be necessary to determine whether a person has violated
						any provision of chapter 645F of NRS or the Nevada Mortgage Servicer
						Regulations and to efficiently enforce the provisions of chapter 645F of NRS
						and the Nevada Mortgage Servicer Regulations.
(j) In the conduct of any examination or
						investigation made pursuant to chapter 645F of NRS and the Nevada Mortgage
						Servicer Regulations:
(1) Issue subpoenas to
						compel the appearance of any person or production of any documents, books or
						records, administer oaths and examine any person pursuant to NRS
						NRS
						645F.291.
(2) Have free access during regular business
						hours to the principal or branch offices, places of business or other locations
						where a licensee or an affiliate of a licensee maintains documents related to
						his or her business as a mortgage servicer, and to the books, accounts, papers,
						records, files, documents, safes and vaults of a licensee.
(3) Assess a fee upon any mortgage servicer
						pursuant to
						NRS
						645F.280, as amended by section 92 of
						Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2809, for
						any special audit, investigation or examination conducted of that mortgage
						servicer pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer
						Regulations.
(4) By procedure,
						order or regulation, classify as confidential certain records and information
						when:
(I) The records or information are
						obtained from a governmental entity upon the express condition that those
						records or information remain confidential; or
(II) The records or information contain
						private and personal information related to a natural person, the release of
						which would result in an unwarranted invasion of
						privacy.