This document outlines Nevada regulations regarding escrow and trust accounts, disclosures and advertising, conditions on mortgage transactions, enforcement and investigation of complaints, disciplinary actions, and prohibited acts and penalties for the mortgage broker industry. Key points covered include requirements for handling escrowed funds, impound accounts, disclosures to borrowers and investors, conditions on appraisals, fees and assignments, enforcement powers of the commissioner, grounds for disciplinary actions, fines for unlicensed activity, and civil penalties.

1. 3-Hour NV SAFE Continuing Education

2. Regulation - Escrow and Trust
Accounts
 Handling Escrowed Advance Fees and
Deposits
 Impound Trust Account for Money to
Pay Property Taxes or Insurance
Premiums
 Escrow Accounts Used to Fund Loans
 Escrow Account for Money from Investors to
Fund Loans
 Releasing Money on Behalf of Borrowers
 Escrow Account for Money from Borrowers to
Repay Loans
 Money Released from Escrow Accounts to
Investors
 Accounting for Monies in the Trust Account
 Additional Conditions, Limitations,
Prohibitions, and Duties of Mortgage
Brokers
 Ownership of Money in Impound Trust
Accounts
 Commingling Money is Prohibited

3. Regulation - Disclosures and
Advertising
 Transactions Involving Private Investors
 Provisions for Disclosure Forms
 Disclosing Controlling Interests and
Personal Relationships
 Prohibition on Making Guarantees in
Advertisements and Solicitations
 Advertising
 Liability of Advertising Spokesperson

4. Regulation - Conditions and
Limitations on Certain
Mortgage Transactions
 Requirement (or Waiver) for Written
Appraisal
 Disclosure of Fees Earned by the
Mortgage Broker
 Unique Identifier and/or License
Number
 Requirements to Assign an Interest in a
Loan
 Mail Copy of Recorded Deed of Trust to
Investors
 Limitations on Use of a Power of
Attorney
 Actions of Majority Holders of
Beneficial Interest in a Loan

5. Regulation - Conditions and
Limitations on Certain
Mortgage Transactions
 Confidentiality of Investor Information
 Binding Arbitration Prohibition
 Written Servicing Agreement Required
 Releasing Borrower or Guarantor from
Personal Liability
 Withholding Money to Offset Money
Owed
 Mortgage Broker Cannot be a
Construction Control
 Placing Private Investors in LLCs or
Business Trusts
 Collection and Application of Fees

6. Enforcement: Investigation
and Remedial Action
 Commissioner Reviews and
Investigates Complaints
 Investigation
 Cease and Desist Orders
 Hearing
 Consent Agreement
 Commissioner’s Remedial Actions
 Refer Violators to the Attorney General
 Civil Action for Injunctive Relief
 Seize Property and Assets of Mortgage Broker
 60-Day Period to Remedy Seizures
 Cooperate with Federal and State Agencies
 Grounds for Disciplinary Action
 Report Violations to the NMLS

7. Disciplinary and Other Actions
 Grounds for Authorized Disciplinary
Action
 Disciplinary Action for False Information on
Applications
 Grounds for Disciplinary Action of Mortgage
Brokers
 Grounds for Disciplinary Action of Mortgage
Agents
 Requirement to Pay Court-Ordered
Child Support
 Disciplinary Action for Certain
Violations
 $50,000 Fine for Acting Without a License
 $25,000 Fine for Failing to Maintain Records
and Submit Reports
 Licensee with Bad Rating Cannot Sell Deeds of
Trust

8. Disciplinary and Other Actions
 Commissioner Categorizes Major or
Minor Violations
 Other Actions
 Violations by Control Persons
 Summary Suspension of License
 Disciplinary Proceedings and Penalties Can
Continue after Expiration, Revocation, or
Surrender of License
 Written Notice of Disciplinary Action

9. Prohibited Acts and Penalties
 Attorney General’s Authority
 Civil Suits and Recovery of Costs
 Prohibited Acts
 Unlawful to Act as Mortgage Broker or
Mortgage Agent without License or Exemption
 Unlawful for Unlicensed or Exempt Foreign
Entities to Act as a Mortgage Broker
 Certain Contracts Voidable
 Penalties
 Civil Action for Violating NRS 645B.900 or
645B.910
 Penalties for Violations of NRS 645B or NAC
645B
 Payment of Restitution
 Penalties for Violations Relating to Escrow or
Trust Accounts
 Punishment