The person who negotiates with a lender on behalf of a homeowner needs a license, either under NRS 645 or NRS 645F. In the case of a real estate licensee who maintains a license under NRS 645, that licensee must be part of a real estate transaction with the homeowner. Any other person - even an unlicensed assistant in the brokerage office - who negotiates with the lender would fall under NRS 645F, and needs a license from the Mortgage Lending Division.
This has been an issue here and I'm sure it will continue to be since short sales are here to stay.
It's vitally important that all licensees, and especially brokers, who are dealing with short sales understand the limitations on unlicensed assistants, and the licensure requirements for third parties providing services between sellers and their lenders.
SOURCE: Direct from GLVAR Go HERE to Read the Article
Division Reminds Licensees about Short Sale Negotiations
By Deanne M. Rymarowicz, Esq.
GLVAR Legal Counsel
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