NDBF COVID-19 Consumer and Industry Guidance

Please find the Department's Consumer and Industry guidance here or access them under the "About" section.

Loan Brokers

Persons Required to Register as a Loan Broker

Loan brokers include any person who:
• For or in expectation of consideration from a borrower, procures, attempts to procure,
arranges, or attempts to arrange a loan of money for a borrower;
• For or in expectation of consideration from a borrower, assists a borrower in making an
application to obtain a loan of money;
• Is employed as an agent for the purpose of soliciting borrowers as clients of the
employer; or
• Holds himself or herself out, through advertising, signs, or other means, as a loan broker.

Loan brokers DO NOT include:
• A bank, bank holding company, trust company, savings and loan association or
subsidiary of a savings and loan association, building and loan association, or credit
union which is subject to regulation or supervision under the laws of the United States or
any state;
• A mortgage banker or an installment loan company licensed or registered under the laws
of the State of Nebraska;
• A credit card company;
• An insurance company authorized to conduct business under the laws of the State of
Nebraska; or
• A lender approved by the Federal Housing Administration or the United States
Department of Veterans Affairs, if the loan is secured or covered by guarantees,
commitments, or agreements to purchase or take over the same by the Federal Housing
Administration or the United States Department of Veterans Affairs.

The following loan brokers do not need to register so long as they do not hold himself or herself
out publicly as a loan broker:

• Securities broker-dealer
• Real estate broker or salesperson
• Attorney
• Certified Public Accountant
• Investment Adviser

Filing Requirements and Process

Nebraska requires loan brokers to provide the following in their initial filing with the state:
• Copy of written disclosure statement
• Copy of loan brokerage agreement
• $150 initial filing fee

Note: Nebraska does not require the submission of any additional forms with loan broker filings. Further, there are no templates to be used for disclosure statements or loan brokerage agreements. Any documents complying with Nebraska statutory requirements for the disclosure statement and loan brokerage agreement will be accepted.

Loan brokers may submit a hard copy filing and check directly to NDBF. In the alternative, loan
brokers may submit the filing electronically to DOB.SecuritiesFiling@nebraska.gov. Upon
receipt of required documents, NDBF will contact the loan broker with payment instructions for
submission of filing fees.

Once an initial filing is submitted and payment has been received, NDBF will promptly review
the disclosure statement and loan brokerage agreement for compliance. If there are any
application deficiencies, NDBF staff will contact the loan broker to resolve those issues. Once all
deficiencies are resolved, a letter confirming approval of the registration will be issued.

The Securities Bureau can be reached by telephone at 402-471-3445 or by email at
DOB.SecuritiesFiling@nebraska.gov with any questions.

Requirements for Disclosure Statement and Loan Brokerage Agreement

Disclosure Statement Requirements
Loan brokers must make certain disclosures to borrowers before signing an agreement. Those
disclosures must comply with the requirements outlined in § 45-191.01.
If there is any material change in information required to be disclosed in the disclosure
statement, the loan broker must file a copy of the amended disclosure statement within forty-five
(45) days after the change. There is a $50 filing fee for each amendment filed.

Loan Brokerage Agreement Requirements
Loan brokerage agreements must be in writing, include a right to cancel the agreement, and
contain certain terms and information. The loan brokerage agreement must comply with the
requirements outlined in § 45-191.04.

Renewal Information

Loan broker filings must be renewed annually. In order to renew, the loan broker must submit a
$100 renewal fee along with the renewal request.

Loan brokers may submit a hard copy of the renewal request and the check directly to NDBF. In
the alternative, loan brokers may submit the renewal request electronically to
DOB.SecuritiesFiling@nebraska.gov. Upon receipt of required documents, NDBF will contact
the loan broker with payment instructions for submission of filing fees.