Nev. Rev. Stat. § 645B.357

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

Section 645B.357 - Restriction on collection of fees by mortgage company; application of fees

1. A mortgage company shall not assess or collect any fee which is not:

(a) Authorized by the loan documents or loan servicing agreement; and

(b) Assessed or collected in exchange for bona fide services rendered or costs incurred.

2. A mortgage company shall apply all fees collected in the manner set forth in the loan documents or loan servicing agreement.

NRS 645B.357

Added to NRS by 2011, 3605; A 2017, 3067

Amended by 2017, Ch. 486,§54, eff. 1/1/2020.

Added to NRS by 2011, 3605