Nevada Administrative Code › Chapter 645F - Mortgage Lending and Related Professions › NEVADA COVERED SERVICE PROVIDER REGULATIONS › Licensing and Operation: Generally › Section 645F.205 - Application for license; waiver of investigation; application for branch offices; license for office outside State which conducts business in State; requirements for issuance of license

Current through June 11, 2024
1. A person who
						desires to be licensed as a covered service provider, foreclosure consultant or
						loan modification consultant must file a written application for a license with
						the Commissioner and pay a nonrefundable application fee as set forth in NAC
						645F.315. An application for a license as a covered service provider,
						foreclosure consultant or loan modification consultant must:
(a) State the name and business address of
						the applicant and the location of the principal office and each branch office,
						if any, at which the applicant will conduct business, including, without
						limitation, any office or other place of business located outside this State
						from which the applicant will conduct business in this State.
(b) If the applicant is a natural person,
						state the residence address of the applicant.
(c) If the applicant will be conducting
						business using a fictitious name, state the fictitious name under which the
						applicant will conduct business.
(d) If the applicant is not a natural person,
						list the name, residence address and business address of:
(1) Each person who will have an interest in
						the applicant as an owner, principal, partner, officer, director or trustee,
						specifying the capacity and title of each such person; and
(2) Each person whom the applicant proposes
						to be a qualified employee for the applicant.
(e) If the applicant will be an independent
						licensee, list the name, residence address and business address of each
						associated licensee, if any, who will be employed by or otherwise associated
						with the applicant.
(f) If the
						applicant will be an associated licensee, include a verified statement from the
						independent licensee with whom the applicant will be associated that expresses
						the intent of the independent licensee to associate the applicant with the
						independent licensee and to be responsible for the activities of the applicant
						as a covered service provider, foreclosure consultant or loan modification
						consultant.
(g) Include a signed
						and notarized personal history form, provided by the Commissioner, from the
						applicant or, if the applicant is not a natural person, each natural person
						holding an ownership interest of 25 percent or more in the applicant and each
						natural person who has the power to direct the management of the
						applicant.
(h) Include a written
						consent giving the Commissioner authority to conduct an investigation of the
						credit history, criminal history and background of:
(1) If the applicant is a natural person, the
						applicant. The written consent must be signed by the applicant.
(2) If the applicant is not a natural person,
						any natural person holding an ownership interest of 25 percent or more in the
						applicant or who has the power to direct the management of the applicant. The
						written consent must be signed by each such person.
(i) Include a complete set of fingerprints of
						the applicant or, if the applicant is not a natural person, any natural person
						holding an ownership interest in the applicant. The Commissioner may forward
						these fingerprints to the Central Repository for Nevada Records of Criminal
						History for submission to the Federal Bureau of Investigation for its
						report.
(j) If the applicant will
						be an independent licensee, indicate the general plan and character of the
						applicant's business and describe the policies and procedures that the
						applicant and any associated licensees who will be employed by or otherwise
						associated with the applicant will follow in providing services and conducting
						activities pursuant to the Nevada Covered Service Provider Regulations and
						NRS 645F.300 to
						645F.450,
						inclusive.
(k) State the length of
						time the applicant has been engaged in the business of a covered service
						provider, foreclosure consultant or loan modification consultant.
(l) If the applicant will be an independent
						licensee, include a financial statement of the applicant.
(m) Include any other information required by
						the Commissioner, including, but not limited to, information concerning the
						education, training and experience of any applicable person.
(n) Include the applicable fee set forth in
						NAC 645F.315.