NAC645E.285. Representation of activity as licensed; restrictions on advertising.

     1. A mortgage banker shall not represent an activity which is not licensed pursuant to chapter 645E of NRS as being licensed pursuant to that chapter.

     2. Except as otherwise provided in subsection 3, an advertisement for an activity which is licensed pursuant to chapter 645E of NRS must be separate and distinct from an advertisement for an activity which is not licensed pursuant to that chapter.

     3. A mortgage banker may advertise jointly with a company licensed pursuant to chapter 624 or 645 of NRS if each business is disclosed separately in the advertisement and each business incurs a pro rata share of the cost associated with the advertisement.

     4. A mortgage banker must include in his or her advertisements, including any advertising material available on the Internet:

     (a) The complete name of the mortgage banker or the complete name under which the mortgage banker does business.

     (b) The address, telephone number and either the license number or unique identifier that the mortgage banker has on file with the Division. Additional telephone or cellular phone numbers of the mortgage banker may also be included.

     (c) A description of any licensed activity mentioned in the advertisement, written in nontechnical terms.

     5. A mortgage banker shall not use advertising material that simulates the appearance of a check or a communication from a governmental entity, or an envelope containing a check or a communication from a governmental entity, unless:

     (a) The words “THIS IS NOT A CHECK,” “NOT NEGOTIABLE” or “THIS IS NOT A GOVERNMENTAL ENTITY,” as appropriate, appear prominently on the envelope and any material that simulates the appearance of a check or a communication from a governmental entity; and

     (b) If the material simulates the appearance of a check, the material does not contain an American Bankers Association number, microencoding or any other marks intended to create the appearance that the material is a negotiable check.

     6. A mortgage banker shall not refer to an existing lender or financial institution, other than the mortgage banker himself or herself or any affiliate or subsidiary of the mortgage banker, on any advertising material without the written consent of the lender or financial institution.

     7. In addition to the requirements of this chapter, each advertisement used in carrying on the business of a mortgage banker must comply with:

     (a) NRS 598.0903 to 598.0999, inclusive, concerning deceptive trade practices; and

     (b) All applicable federal statutes and regulations concerning deceptive advertising and advertising of interest rates.

     8. An Internet link on a website of the mortgage banker that links the user to the website of another commercial enterprise must provide notification to the user that the user is leaving the website of the mortgage banker.

     9. For the purposes of this section, “advertisement”:

     (a) Does not include white-page listings, employment recruiting announcements, office signs, banners, magnetic car signs and letterhead which contain only the name, address and telephone number of the mortgage banker, whether together or separate, and which are used for the purpose of identification only.

     (b) Includes commercial messages that promote the availability of mortgage products or investments offered by the mortgage banker. Commercial messages include, without limitation:

          (1) Print media;

          (2) Sales literature;

          (3) Sales brochures or flyers;

          (4) Billboards;

          (5) Yellow-page listings if more than a line listing;

          (6) Radio and television advertisements;

          (7) Mass mailings distributed by the United States Postal Service or another such delivery service or by electronic mail;

          (8) Telephone or seminar scripts;

          (9) Websites or other Internet sites that promote or accept loan applications; and

          (10) Business cards.

     10. As used in this section, “unique identifier” means a number or other identifier assigned by protocols established by the Registry.

     (Added to NAC by Comm’r of Financial Institutions by R046-00, eff. 9-5-2000; A by Comm’r of Mortgage Lending by R088-04, 8-25-2004; R053-08, 4-23-2009; R038-10, 7-22-2010)—(Substituted in revision for NAC 645E.450)