1 Hour NV SAFE: Nevada Qualified Employee Mortgage Regulations
1-hour Nevada state-specific course for licensed Qualified Employees
All learning is online. Start immediately. Learn on your own schedule.
Read-along audio plays the course text back to you.
Download and print your own certificate.
Includes PDF/EPUB eBook of all reading material for your tablet or Kindle.
The objective of this 1-hour Nevada continuing education course is to review several of the state's consumer protection laws and review ethical conduct expected of licensees who conduct business within this state. These laws are to preserve consumer confidence in the mortgage industry and allows them some protection when facing troubling situations such as identity theft, overwhelming debt, or even a loan default. There are also regulations that outline what licensees can and cannot do when assisting a consumer with a financial transaction.
This course is REQUIRED for mortgage company qualified employee license renewal. Qualified Employees are required to complete a 1-hour Nevada specific education in the preceding 12 months to their designation and each year thereafter as long as they hold that position.
Please review the Course Syllabus for details about this course.
This course satisfies 1 hour of required continuing education for Nevada licensed mortgage loan originator qualified employees. This course is approved by the NMLS. A valid NMLS ID number is required to receive credit for this course. Certain states may have additional requirements beyond what this course provides. Be sure to check with your state to see if this course meets your needs.
This course is new for 2021 and meets the SAFE Act's "successive years" rule.
+ $1.50 NMLS Credit Banking Fee
|Category:||Mortgage > Continuing Education > Nevada|
|Purpose:||1-hour Nevada state-specific course for licensed Qualified Employees|
|Features:||Online Text, Online Audio, Printable Certificate, PDF eBook|
NMLS Course Provider ID: 1400327
Purchase of this package requires that you read and acknowledge a Terms of Service agreement before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: 13004
NMLS Sponsor ID: 1400327
Credit Hours Provided: 1
The Nevada Division of Mortgage Lending (the Division) requires mortgage company and mortgage servicer qualified employees to take a 1-hour course covering Division-defined mortgage regulation topics as part of the QE's annual continuing education requirement. This course covers topics relating to Nevada qualified employees.
Each licensed mortgage company must have a qualified employee at each location licensed with the Nevada Division of Mortgage Lending. (NRS 645B.021; NAC 645B.030)
A qualified employee is a natural person who is designated by a mortgage company to act on behalf of the mortgage company and who is approved by the Commissioner. (NAC 645B.008
The first module of this course is an introduction and an overview of the Division. The second module is an outline of the additional requirements for mortgage companies located in Nevada Administrative Code (NAC) 645B and Nevada Revised Statutes (NRS) 645B such as responsibilities, record keeping requirements, and advertisement restrictions. The third module examines other covered services supervised by the Division, such as foreclosure consultants, loan modification consultants, and mortgage servicers. The fourth and last module categories a variety of unfair mortgage lending practices that are prohibited as codified in NRS 598D.
This Nevada QE online continuing education course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:
The Nevada Division of Mortgage Lending
The Operation of Mortgage Companies
Mortgage Lending and Related Professions
Unfair Lending Practices
Total study time: 1 hour (50 minutes)
This course will prepare Nevada licensed qualified employees to:
Recognize the importance of a licensee's fiduciary duty to consumers.
Identify the regulatory agency who enforces Nevada's mortgage licensing regulations.
Review the requirements for obtaining a mortgage company license.
Describe the requirements for a mortgage brokerage qualified employee.
Identify the retention period for transaction files.
Demonstrate the disclosure requirements when working as both a mortgage and a real estate licensee.
Review the rules when advertising and promoting mortgage products to consumers.
Identify what a covered service is.
Summarize who is defined as a foreclosure or loan modification consultant.
Review the initial and supplemental disclosure requirements for covered service providers.
Describe the record keeping requirements for foreclosure or loan modification consultants.
Classify how a person obtains authorization to become a mortgage servicer.
Paraphrase a mortgage servicer's fiduciary responsibilities to their clients.
Outline the protection given to government employees when experiencing a temporary government shutdown.
Outline several prohibited unfair lending practices relating to homeowner insurance, ability to repay, prepayment penalties, and credit insurance.
Describe available remedies for borrowers who are holding onto a mortgage loan originated using unfair lending practices.
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
If you already have an NMLS ID but don't remember what it is:
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center.
This course will remain available to students for 365 days after enrollment.
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.