Section 319.463 - Criteria for eligibility to participate in program; notice of acceptance1. To be eligible to participate in a program, a lending institution must:(a) Have a net worth of at least $500,000;(b) Maintain at least one office within this State that originates loans and deeds of trusts;(c) Customarily engage in originating or servicing loans and deeds of trusts, or in originating and servicing loans and deeds of trusts;(d) Be qualified to do business in this State;(e) Be licensed as required by applicable law;(f) Be authorized to commence business under a certificate issued by the Commissioner of Financial Institutions or the Commissioner of Mortgage Lending, if required by law;(g) Be in good standing with the federal, state or local regulatory agency having jurisdiction; and(h) Be a mortgagee approved by the Federal Housing Administration and the Department of Veterans Affairs, or be a seller or servicer of mortgage loans to and for the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.2. The Division will issue a notice of acceptance to each eligible lending institution which applies and is accepted by the Division to participate in a program.Nev. Admin. Code § 319.463
Housing Division, Loans for Single-Family Homes Reg. § 5, eff. 5-8-78; A and renumbered as § 4, 7-23-80-NAC A 10-26-83; A by R166-99, 6-15-2000; R136-03, 11-26-2003