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Nevada Mortgage License

Nevada mortgage license is regulated by the Nevada Division of Mortgage Lending. All the home loan brokers, bankers and loan officers operating in the state are required to have the state mortgage license in order to conduct the home loan lending and selling business. There has been a rapid growth in the real estate industry of Nevada and many talented professionals are entering the home loan business and real estate investments .

If you are thinking to become a home loan broker or a loan officer then it can prove to be a good decision. However, it is important for you to understand that the state law requires you to have the license before initiating your home loan business. It is very essential for you to understand all the Nevada mortgage licensing process if you want to make the correct approach.

Nevada Mortgage Brokers License

In order to become an established home loan broker in Nevada you will have to get the brokers license. As a prerequisite, you are required to run a physical office inside the state of Nevada. Moreover, you will have to submit your financial statement for the last three months together with the home loan broker application. In addition, the Nevada Division of Mortgage Lending require you to submit the financial reports of the past two fiscal years with a personal history record, a personal financial questionnaire, a general business plan and the fingerprint cards. NV mortgage broker license applicants are also required to complete an ongoing education of 12 hours every year in order to renew a broker license.

Nevada Mortgage Licensing Fees

The licensing authority of Nevada charges $1,500 as a non-refundable license application fees. Moreover, an amount of $1,000 is also charged after the approval of the applications. Mortgage brokers and bankers are not require to have any minimum net worth or surety bond in order to get the license. In case of home loan bankers, they are required to have physical office within the state but like the broker license requirements, they don't have to maintain any surety bond or net worth.

There is no specific educational qualification to apply for the Nevada mortgage license in the state. Moreover, the applicants are not required to pass any test or state exams. There are several mortgage licensing companies and real estate schools that can assist applicants in getting their mortgage license. These licensing companies and agencies are easily available on the Internet and they provide comprehensive details on the licensing requirements prevalent in the state.
American Mortgage Licensing
American Mortgage Licensing provide mortgage brokers and bankers licensing services in several states of the US. The company provide comprehensive details on mortgage broker licensing requirements prevalent in the state of Nevada.
Greenlight Compliance & Licensing, Inc
Greenlight Compliance & Licensing, Inc provide a number of mortgage solutions for home buyers and borrowers in Nevada. They further provide vital details on mortgage licensing requirements of the state.
Mortgage News Daily
At Mortgage News Daily, you will be able to get vital information on all the mortgage licensing process undertaken in the state of Nevada. Visit the website of the company to know more about their services.

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