This 1-hour course for Qualified Employees and MLOs in Nevada will fulfill the state-specific elective requirement for mortgage professionals toward the 8 hours of annual continuing education needed for license renewal.
Topics of interest include important updates on the operation of mortgage companies and designation of QEs in Nevada, as well as:
- Regulation of Mortgage Loan Originators
- Examinations and Audits
- Records, Financial Statements and Reports
- Net Worth Requirements
- Surety Bond Requirements
- Escrow and Trust Accounts
- Disclosures and Advertising
- Conditions and Limitations of Certain Mortgage Transactions
- Residential Mortgage Loans
- Investigation of Violations and Unsafe Practices; Remedial Action
- Disciplinary and Other Actions
- Prohibited Acts; Penalties
We’ll begin the first module with a look at state regulation and the Division of Mortgage Lending, followed by important definitions of the various Nevada mortgage industry professionals. Next, we explore regulations that affect mortgage companies, QEs, and MLOs, such as fiduciary duties; requirements for branch offices; net worth; examination and audit laws and rules; and statutes that govern the filing and maintenance of records, financial statements, and reports..
In the second module, the course examines the latest information regarding other statutory requirements such as disclosure and advertising, laws relating to compliance and enforcement, as well as Division updates/announcements. The final sections address provisions and updates including the payment of child support and how noncompliance with child support obligations can impede a licensee’s authority. This module concludes with an update on the current status of the declaration of emergency due to COVID-19.
To promote comprehension, students will complete a 5-question quiz and short activity after each module. A 15-question final exam will wrap up the course.
Show Course ID: 1
- Course ID(s): 14287
- Approved By: NMLS
Mary Tillery, loan originator and Sales Manager at Guild Mortgage, in Grants Pass Oregon, has been actively involved in home lending since 1986. She has originated everything from first time homebuyers, to complex construction financing and reverse mortgages, besides all forms of more traditional lending. Mary combines her depth of knowledge with a sincere desire to know, love and serve her clients. She has been teaching home buying classes for 20+ years and loves to share her knowledge with not just her clients, but with people in the industry who are interested in growing.