Nev. Rev. Stat. § 645B.305

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 645B.305 - Requirement that loan include disclosure concerning fees

A mortgage company shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage company includes a disclosure:

1. Describing, in a specific dollar amount, all fees earned by the mortgage company;

2. Explaining which party is responsible for the payment of the fees described in subsection 1; and

3. Explaining the probable impact the fees described in subsection 1 may have on the terms of the loan, including, without limitation, the interest rates.

NRS 645B.305

Added to NRS by 2007, 951; A 2009, 1556; 2011, 3617; 2017, 3061

Amended by 2017, Ch. 486,§41, eff. 1/1/2020.

Added to NRS by 2007, 951; A 2009, 1556; 2011, 3617