NRS 645B.0137: Requirements for initial licensing as mortgage company or mortgage loan originator; regulations.

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.