Section 645F.965 - Powers and duties of Commissioner1. Subject to the administrative control of the Director of the Department of Business and Industry, the Commissioner will exercise general supervision and control over all mortgage servicers governed by chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.2. In addition to the other duties imposed upon him or her by law, and except as otherwise provided in section 86.6 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2807, the Commissioner may: (a) Require that any application for the initial issuance or renewal of a license or the submission of any report or filing required pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations be submitted directly to the Division or to the Division through the Registry.(b) Require that any fee or administrative fine due or assessment levied pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations be submitted directly to the Division or to the Division through the Registry.(c) Issue or approve or refuse to issue or approve a license, an amendment to a license or transfer of a license as provided in chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(d) Revoke, suspend or place conditions on a license as provided in chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(e) Impose administrative fines and assess administrative fees or assessments or attorney's fees as provided in chapter 645F of NRS and the Nevada Mortgage Servicer Regulations or under applicable law.(f) Impose any other discipline as provided in chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(g) Bring an action in any county in this State to enforce an order or subpoena issued under chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(h) Advise the Attorney General or prosecuting attorney of any county in this State that a mortgage servicer is conducting business or engaging in any activity that violates chapter 645F of NRS or the Nevada Mortgage Servicer Regulations.(i) Conduct such examinations or investigations as may be necessary to determine whether a person has violated any provision of chapter 645F of NRS or the Nevada Mortgage Servicer Regulations and to efficiently enforce the provisions of chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(j) In the conduct of any examination or investigation made pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations: (1) Issue subpoenas to compel the appearance of any person or production of any documents, books or records, administer oaths and examine any person pursuant to NRS 645F.291.(2) Have free access during regular business hours to the principal or branch offices, places of business or other locations where a licensee or an affiliate of a licensee maintains documents related to his or her business as a mortgage servicer, and to the books, accounts, papers, records, files, documents, safes and vaults of a licensee.(3) Assess a fee upon any mortgage servicer pursuant to NRS 645F.280, as amended by section 92 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2809, for any special audit, investigation or examination conducted of that mortgage servicer pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(4) By procedure, order or regulation, classify as confidential certain records and information when: (I) The records or information are obtained from a governmental entity upon the express condition that those records or information remain confidential; or(II) The records or information contain private and personal information related to a natural person, the release of which would result in an unwarranted invasion of privacy.3. Notwithstanding subparagraph (4) of paragraph (j), all records of the Commissioner may be examined by the Legislative Auditor or the Department of Taxation if necessary to carry out the provisions of chapter 363A of NRS and sections 2 to 61, inclusive, of Senate Bill No. 483, chapter 487, Statutes of Nevada 2015, at page 2878 (Chapter 363C of NRS).4. For purposes of conducting any examination or investigation pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations, the Commissioner may: (a) Retain attorneys, accountants or other professionals and specialists as examiners, auditors or investigators to conduct or assist in the conduct of such examinations or investigations.(b) Enter into agreements or relationships with other government officials or regulatory associations in order to improve efficiencies and reduce regulatory burden by sharing resources, standardized or uniform methods or procedures, and documents, records, information or evidence obtained pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(c) Use, hire, contract with or employ public or privately available analytical systems, methods or software to examine or investigate a licensee or other person subject to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.(d) Accept and rely on reports of examinations or investigations made by other state or federal government officials.(e) Accept audit reports prepared by an independent certified public accountant for the licensee or other person subject to the Nevada Mortgage Servicer Regulations, in the course of that part of the examination covering the same general subject matter as the audit and incorporate the audit report in the report of the examination, report of investigation or other writing of the Commissioner.5. The Commissioner may designate a hearing officer to conduct any hearing required pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations.Nev. Admin. Code § 645F.965
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