4 Hour NV SAFE: Nevada Mortgage Lending Laws
Mandatory state-specific elective for new Nevada MLD mortgage licensees.
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Read-along audio plays the course text back to you.
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This course presents Nevada law and rule requirements relating to originating mortgage loans securing residential real property located throughout the State of Nevada. The purpose of this training is to prepare NV Mortgage Loan Originator license candidates with the necessary information to ensure fair, ethical, and compliant mortgage loan origination activities.
The Nevada Division of Mortgage Lending requires licensees to complete a total of 30 hours of prelicense education. This package contains the 4-hour Nevada PE elective. Students can complete the additional 6 hours of education by completing additional state-specific courses.
+ $6.00 NMLS Credit Banking Fee
|Category:||Vocational Training > Mortgage > License Training > Nevada > PE Elective|
|Purpose:||Mandatory state-specific elective for new Nevada MLD mortgage licensees|
|Features:||Online Text, Online Audio, PDF eBook, Printable Certificate|
14355 SW ALLEN BLVD STE 240,
Portland, OR 97223
NMLS Course Provider ID: 1400327
Purchase of this package requires that you read and acknowledge an Enrollment Agreement before receiving credit for any courses contained in this package. Please review the following:
NMLS Course ID: 14041
NMLS Sponsor ID: 1400327
Credit Hours Provided: 4
Category: PE Elective
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Nevada under The Division of Mortgage Lending (MLD), an agency under the Nevada Department of Business and Industry. This 4-hour course covers state-specific rules and regulations in Nevada, and is required as part of the 30 hours of pre-license education needed to become a Nevada licensed mortgage loan originator. This course covers only state-specific content. The remainder of your required 30-hour pre-license education will be covered by additional separate courses.
This course consists of 5 modules and a final exam:
Introduction (15 minutes)
Mortgage Licensing (38 minutes)
The Operation of Mortgage Companies (71 minutes)
Foreclosure Service Providers (21 minutes)
Unfair Lending Practices (35 minutes)
Final Exam (20 minutes)
Total study time: 4 credit hours (200 minutes)
In this module we are going to discuss Nevada law and rule requirements relating to operating a mortgage business in Nevada. The laws relating to how a mortgage loan originator is to operate and conduct their affairs are based upon both statutory and administrative rules.
In this module we'll introduce you to the steps for obtaining a mortgage loan originators in Nevada. An MLO license can only be grated to a natural person (i.e., an individual) who completes the necessary requirements for being authorized by the Nevada Division of Mortgage Lending to participate in residential mortgage origination activities with the expectation of compensation. MLOs work with clients to locate a mortgage product that best fits within the clients' financial means.
The previous module covered licensing matters for individual mortgage loan originators. Now we turn our attention to the licensing and operating of mortgage companies. This will include escrow and trust accounts, appropriate consumer disclosures, advertisements, responsibilities when handling employees, and prohibited acts.
This module covers various consumer protections in relation to foreclosure consultations, loan modifications, and loan servicing.
Unfair lending practices set homeowners up for failure. By lending individuals more money that their homes are actually worth, consumers are often unaware of what they agree to until it is too late. In this module we'll review unfair lending practices as outlined in Nevada Revised Statutes 598D. Nevada has defined certain practices as unfair lending practices and has prohibited lending in these capacities.
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
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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.