NAC645B.315. Exemption from licensing requirements for certain loan processors and underwriters.

     1. Except if the natural person is an independent contractor who complies with the requirements of NAC 645B.410, a natural person who is a loan processor or underwriter and who does not represent to the public, through advertising or other means of communicating or providing information, that the natural person can or will perform any of the activities of a loan originator is not required to be licensed as a mortgage agent. 

     2. For the purposes of this section, “represent to the public” means to communicate through:

     (a) Advertising, including, without limitation, a promotional item or business card; or

     (b) Other means of providing information, including, without limitation, the use of stationery, brochures, signs or rate lists.

     (Added to NAC by Comm’r of Mortgage Lending by R035-10, eff. 7-22-2010)