NMLA has enjoyed tremendous success with its advocacy agenda. Here are a few of the things we have accomplished over the last few legislative sessions:
Ensured mortgage liens protected (SB306-2015)
Crafted and passed SB498-2017, updating state licensing requirements:
No more 3 hours of NV education annually! Only 1-hour for the QE only!
Removed statutory examination timelines. Examinations will still be periodic, but as
determined by performance on prior examinations…saving you money!
Crafted and passed AB468-2017, consolidating state licensing:
Brokers” and “Bankers” now single license = “Mortgage Companies”. Effective 1/1/2020
Crafted and passed AB398-2019, which removes the requirement for a commercial lender to be licensed by the state, provided that a licensee is involved in the transaction (broker).
Privacy bill SB220-2019. Instrumental in getting an exemption for any business covered by the GLBA!
This was a big win, as new privacy provisions permeate state legislatures everywhere, the costs to comply with all the state provisions has been sky rocking. We are glad to say you are safe from any new privacy rules!