What is required of a mortgage agent and a mortgage broker when a mortgage agent terminates his association or employment with the mortgage broker, changes brokers or renews his license?
Termination Pursuant to NRS 645B.450(3), when a mortgage agent terminates his association or employment with a mortgage broker for any reason, including quitting, resigning or being fired, the mortgage broker must, within three business days of the termination, provide written notice to both the Division and the mortgage agent, at the agents last known address, using the prescribed Mortgage Agent Termination or Disassociation form. The form is available on the Divisions website, mld.nv.gov, under the Forms link, and may be faxed or mailed to the Division. Failure to comply with the provisions of NRS 645B.450 could subject the mortgage broker to administrative action and/or fines. Changes of Brokers Once a mortgage agent has terminated his association with one mortgage broker, he may associate with a new mortgage broker. It is the responsibility of both the mortgage agent and the new mortgage broker to ensure that the Division is in physical receipt of the completed Mortgage Agent Chang
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- What is required of a mortgage agent and a mortgage broker when a mortgage agent terminates his association or employment with the mortgage broker, changes brokers or renews his license?
- What is required when a mortgage agent terminates his association or employment with a mortgage broker, changes brokers or renews his license?
