NRS645B.305. Requirement that loan include disclosure concerning fees.

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

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

      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.

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

                    
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