Nev. Rev. Stat. » NRS: CHAPTER 645B - MORTGAGE COMPANIES AND MORTGAGE LOAN ORIGINATORS
Nevada Revised Statutes

Nev. Rev. Stat. § 645B.460 (2026)

Supervision by mortgage company; requirements; regulations

✓ current as of July 2026
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NRS 645B.460  Supervision by mortgage company; requirements; regulations.

      1.  A mortgage company shall exercise reasonable supervision and control over the activities of his or her mortgage loan originators and must also be licensed as a mortgage loan originator if required pursuant to NRS 645B.405. Such reasonable supervision and control must include, as appropriate:

      (a) The establishment of written policies and procedures for the mortgage loan originators;

      (b) The establishment of a system to review, oversee and inspect the activities of the mortgage loan originators, including, without limitation:

             (1) Transactions handled by the mortgage loan originators pursuant to this chapter;

             (2) Communications between the mortgage loan originators and a party to such a transaction;

             (3) Documents prepared by the mortgage loan originators that may have a material effect upon the rights or obligations of a party to such a transaction; and

             (4) The handling by the mortgage loan originators of any fee, deposit or money paid to the mortgage company or the mortgage loan originators or held in trust by the mortgage company or the mortgage loan originators pursuant to this chapter; and

      (c) The establishment of a system of reporting to the Division of any fraudulent activity engaged in by any of the mortgage loan originators.

      2.  The Commissioner shall allow a mortgage company to take into consideration the total number of mortgage loan originators associated with or employed by the mortgage company when the mortgage company determines the form and extent of the policies and procedures for those mortgage loan originators and the system to review, oversee and inspect the activities of those mortgage loan originators.

      3.  The Commissioner may adopt regulations prescribing standards for determining whether a mortgage company has exercised reasonable supervision and control over the activities of a mortgage loan originator pursuant to this section.

      (Added to NRS by 1999, 3769; A 2001, 2473; 2009, 2684; 2013, 117; 2017, 3071)

RIGHTS OF COMPANIES AND LOAN ORIGINATORS DURING MILITARY SERVICE

     

Notes of Decisions
Cited in 2 cases, 2009–2010 · leading case: Larson v. Homecomings Fin., LLC, 680 F. Supp. 2d 1230 (D. Nev. 2009).
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Larson v. Homecomings Fin., LLC, 680 F. Supp. 2d 1230 (D. Nev. 2009). · cites it 8× “Nowhere do Plaintiffs allege that Defendants failed to establish adequate policies or a system to supervise its agents.”
Weingartner v. Chase Home Fin., LLC, 702 F. Supp. 2d 1276 (D. Nev. 2010). · cites it 2× “(# 1-2 ¶¶ 61-69 (citing Nev. Rev.Stat. § 645B.460 et seq., § 598D.”
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