How to Become a Mortgage Lender in Nevada

A mortgage lender is the entity that provides the funds to the buyer so that they can purchase a property, often a house or commercial building. A lender will retain the mortgage on the property and ensure that it is secured. In the state of Nevada there are several requirements needed in order to get into the Nevada mortgage lending market or to obtain an employment position as a lender at a large financial institution or brokerage.

You can fulfill these requirements by taking courses that comply with the minimum educational and testing standard. If you are new to this field of study, you will need to do pre-licensing which consists of the following:

• You will need a minimum amount of 30 hours of pre-licencing education that meet all state and national licensing requirements.
• You will need to take a 20-hour SAFE Act course. This satisfies the national portion of the pre-licensing education.
• You will need to complete a 10-hour state specific section that looks at licensing specifically in Nevada.

The 20-hour SAFE Act course teaches students to understand the basics of mortgage lending academics and should be completed prior to the 10-hour course as it provides an overall educational experience. This 20-hour course is considered classroom only and prepares the student for the National Mortgage Licencing Exam. Individuals will get to cover topics such as: mortgage fraud, standard loan practices, mortgage insurance, conventional loans, code of ethics, qualifying standards, loan processing, and many more.

Now if you already have an education in Nevada mortgage lending, you can do continuing education in order to renew your license. Nevada requires you to do a 10-hour SAFE Continuing Education course which can be completed online. This is a great way to ensure that you are aware of all of the latest changes within the industry.

If you’ve ever wanted to make a career change into real estate but don’t want to be the salesperson, then becoming a mortgage lender may be the right fit for you. Key Realty School offers great options for mortgage lending courses. Contact us to inquire about our courses today.