Section 645F.Sec. 2 - NEWThe Commissioner may issue a license by endorsement as a covered service provider, foreclosure consultant or loan modification consultant to a natural person who holds a corresponding valid and unrestricted license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, in the District of Columbia or any state or territory of the United States if the natural person:
1. Submits to the Commissioner all of the following:(a) An application on a form prescribed by the Commissioner. The applicant shall include in the application his or her social security number.(b) Proof satisfactory to the Commissioner that he or she:(1) Holds a corresponding valid and unrestricted license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, in the District of Columbia or any state or territory of the United States and has held such a license for a period of at least 5 continuous years immediately preceding the date on which the application is submitted;(2) Possesses qualifications that are equal to or substantially similar to the qualifications required for issuance of a license as a covered service provider, foreclosure consultant or loan modification consultant in this State, as applicable, including, without limitation, proof satisfactory to the Commissioner that the applicant has successfully completed the education and training required for the issuance of the applicant's license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, in the District of Columbia or any state or territory of the United States and that such education and training provided instruction that is, as determined by the Commissioner, equivalent to the instruction required for initial licensure pursuant to NAC 645F.500 to 645F.590, inclusive;(3) Has at least 2 years of verifiable experience in the real estate, mortgage, foreclosure or loan modification industries or applicable financial or legal fields in the District of Columbia or any state or territory of the United States within the 5 years immediately preceding the date on which the application is submitted;(4) Is a citizen of the United States or otherwise has the legal right to work in the United States;(5) Has not been disciplined by the corresponding regulatory authority of the District of Columbia or any state or territory of the United States in which the applicant currently holds or has held a license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable;(6) Has not been held civilly or criminally liable in the District of Columbia or any state or territory of the United States for misconduct relating to his or her license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable;(7) Has not had a license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, suspended or revoked in the District of Columbia or any state or territory of the United States;(8) Has not been refused a license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, in the District of Columbia or any state or territory of the United States for any reason; and(9) Does not have pending any disciplinary action concerning his or her license to engage in the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, in the District of Columbia or any state or territory of the United States.(c) A complete set of his or her fingerprints and written permission authorizing the Commissioner to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report or proof that the applicant has previously passed a comparable criminal background check within the 6 months immediately preceding the date on which the application is submitted.(d) The statement required by NAC 645F.215.(e) If the applicant is applying for licensure as a covered service provider, foreclosure consultant or loan modification consultant in the capacity of an independent licensee: (1) Proof satisfactory to the Commissioner that the applicant and each associated licensee who will be employed by or otherwise associated with the applicant are named as principals on a surety bond deposited with the Commissioner by the applicant pursuant to NAC 645F.605 that is in full force and effect and satisfies all of the requirements of NAC 645F.605, or that the applicant has deposited a substitute form of security pursuant to NAC 645F.610;(2) An audited financial statement of the applicant that is prepared using the records of the activities of a covered service provider, foreclosure consultant or loan modification consultant, as applicable, engaged in by the applicant in the capacity of an independent licensee in the District of Columbia or any state or territory of the United States, by a certified public accountant who holds a certificate to engage in the practice of public accounting; and(3) Proof satisfactory to the Commissioner that the applicant is in such financial condition that the applicant can continue in business with safety to his or her customers.(f) An affidavit stating that the information contained in the application and any accompanying material is true and complete.(g) Any other information required by the Commissioner.2. Pays the applicable fees to apply for and be issued a license as a covered service provider, foreclosure consultant or loan modification consultant, as provided by NAC 645F.315.Nev. Admin. Code § 645F.Sec. 2
Added to NAC by Comm'r of Mortgage Lending by R180-18A, eff. 6/12/2019NRS 622.530, 645F.255 and 645F.390