1. The following fees will be assessed and collected pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations: (a) To file an initial application for a license as a mortgage servicer, not more than $2,500 for the principal office.(b) To file an initial application for a supplemental mortgage servicer license, not more than $1,000 for the principal office.(c) To obtain a duplicate copy of a license or to amend the name of the business or the address of the principal office, not more than $50.(d) To transfer the ownership or change control of a license, not more than $500, and any expenses or costs incurred to conduct the investigation.(e) To renew a license, not more than $1,000 for the principal office.2. A licensee that fails to submit a complete application for renewal on or before December 31 may reinstate the license if, before February 28 of the following year, the licensee files a complete application for renewal and pays the renewal fee and a reinstatement fee of not more than $200.3. For the purposes of funding the cost of administration and enforcement of the Nevada Mortgage Servicer Regulations, the Division will bill each principal mortgage servicer licensee and supplemental mortgage servicer licensee a supervision fee calculated pursuant to subsection 4.4. A mortgage servicer with an annual mortgage loan servicing volume of: (a) Less than $1,500,000 will not be assessed a supervision fee.(b) At least $1,500,000 but not more than $2,500,000 shall pay a supervision fee calculated as 7 cents per $1,000 of its loan servicing volume.(c) More than $2,500,000 but not more than $5,000,000 shall pay a supervision fee calculated as 6 cents per $1,000 of its loan servicing volume.(d) More than $5,000,000 but not more than $10,000,000 shall pay a supervision fee calculated as 5 cents per $1,000 of its loan servicing volume.(e) More than $10,000,000 but not more than $30,000,000 shall pay a supervision fee calculated as 4 cents per $1,000 of its loan servicing volume.(f) More than $30,000,000 but not more than $100,000,000 shall pay a supervision fee calculated as 3 cents per $1,000 of its loan servicing volume.(g) More than $100,000,000 but not more than $1,300,000,000 shall pay a supervision fee calculated as 2 cents per $1,000 of its loan servicing volume.(h) More than $1,300,000,000 shall pay a supervision fee calculated as 1 cent per $1,000 of its loan servicing volume.5. The Commissioner will determine the annual mortgage loan servicing volume using the activity reports filed with the Commissioner by the mortgage servicer pursuant to section 45 of this regulation.6. A mortgage servicer shall pay the actual travel, lodging and meal expenses incurred by any employee or contract employee of the Division who travels out of state to conduct an examination or investigation of the mortgage servicer pursuant to this section.7. Each mortgage servicer shall pay to the Commissioner the annual assessment established by the Commissioner and levied pursuant to NRS 645F.290.8. A mortgage servicer that fails to submit timely a financial statement or report required pursuant to section 25 or 45 of this regulation may be subject to a late penalty of not more than $25 for each day that the statement or report is late, up to a maximum of $1,000, and may be subject to other discipline provided for pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.9. Any fee, assessment or late penalty required to be paid pursuant to this section must be paid to the Commissioner through the Registry.10. All fees, assessments or penalties received pursuant to this section are in addition to any fees that may be required by the Registry and are nonrefundable. All fees, assessments and penalties received pursuant to this section must be deposited in the Account for Mortgage Lending created by NRS 645F.270.Nev. Admin. Code § 645F.961
Added to NAC by Comm'r of Mortgage Lending by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.NRS 645F.280, as amended by section 86.4 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2809 and section 92 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2806