Nevada Proposes Rules on Remote Work

The Nevada Commissioner of Mortgage Lending recently published proposed regulations that would allow MLOs (other than “qualified employees” as designated under Nevada law) to work from a remote location under certain circumstances.  Those circumstances include the mortgage company’s adequate supervision, record retention, and implementing and maintaining a data security program that meets the Commissioner’s objectives (including by being consistent with all applicable federal and state laws and regulations, meeting or exceeding the standards of the mortgage lending industry, addressing known vulnerabilities, and being commensurate with the licensee’s size and complexity).

Comments on the proposed regulations are due by May 28, 2024.