Is a licensed attorney exempt from the new loan modification and foreclosure consultant licensing law enacted during the 2009 legislative session? Is the attorneys staff also exempt?
Assembly Bill 152 and permanent regulation R052-09, which became law on August 25, 2009, established licensing criteria and as well as other requirements to conduct loan modification , foreclosure consulting and covered service activity in Nevada pursuant to NRS 645F. Section 6 of AB 152 provides that “An attorney at law rendering services in the performance of his duties as an attorney at law?? is exempt from the licensing and regulatory requirements unless he is rendering those services ?in the course and scope of his employment by or other affiliation with a mortgage broker or mortgage agent.” The Legislative Counsel Bureau has informally advised the Division that the terms ?mortgage broker? and ?mortgage agent? were a scrivener’s error and should instead read as a ?licensee? under the new law. The final codified version of NRS 645F.380 is to contain the corrected language. Section 15 of the permanent regulation provides that a person who is not an attorney at law and who engages in
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