NV.gov
Who is required to be licensed as a Mortgage Servicer or Supplemental Mortgage Servicer under NRS 645F?
Any person who wishes to engage in any activity meeting the statutory definition of “mortgage servicer” or the regulatory definition of “supplemental mortgage servicer” with respect to residential property is required to first obtain a license as a mortgage servicer or supplemental mortgage servicer under NRS 645F, unless the person is exempt from licensure under NRS 645F.500.
Mortgage Servicer Definition:
1. A person, whether acting as the current owner of the promissory note or as the authorized agent of the current owner of a promissory note, who:
- a. directly services a mortgage loan secured by real property located in Nevada; or
- b. is responsible for interacting with a borrower or managing a Nevada mortgage loan account on a daily basis (e.g., collecting a crediting periodic loan payments, managing any escrow account, or enforcing the note and security instrument.
2. A person providing the above services by contract as a sub-servicing agent to a master servicer by contract.
(NRS 645F.063)
Supplemental Mortgage Servicer Definition:
A supplemental mortgage servicer license is required for any person that is currently licensed as a mortgage company under NRS 645B ("qualifying license") and is acting as or providing any of the following services in relation to one or more mortgage loans that the person did not make or arrange under their qualifying license (i.e., servicing third party mortgage loans):
- directly services a mortgage loan that is secured by real property located in Nevada; or
- is responsible for interacting with a borrower or managing a Nevada Mortgage loan account on a daily basis (e.g., collecting and crediting periodic loan payments, managing any escrow account), or enforcing the note and security instrument; or
- provides the above services by contract as a sub-servicing agent to a master servicer by contract.
How to Obtain or Renew a License
All initial license and renewal applications and applicable fees for mortgage servicers and supplemental mortgage servicers are submitted to the Division through the Nationwide Multistate Licensing System and Registry (“NMLS”) using the Company Form (MU-1 Form) for the principal office.
Additional Information:
Once You Have Obtained a License
- Nevada Annual Mortgage Servicing Volume Report (Excel file)
- Quarterly Report - Expanded RMLA (FV5) Submission through NMLS
- Annual Financial Statements
- Financial Statement Submission Requirements
- Application for Change of Address
- Application for Change of Control
- Designation of Qualified Employee
- Request for Approval to Close Office
- Enforcement and Disciplinary Action Report
Amendments to License
Informational Brochure
Please remember to visit the MLD Updates page for important industry news, information & reminders:
SRS Portal Access form
If you area Non-NMLS applicant and identify as one of the options below please fill out a portal access request form.
- New Commercial Only Mortgage
- New Commercial Only Mortgage Loan Originator
- New Escrow Agency Application
- New Covered Service Provider
- New Exempt Company Certificate
- New Credit Service Organization
- Required for all Non-NMLS applications