NRS645B.357. Restriction on collection of fees by mortgage broker; application of fees.

Latest version.

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

(Added to NRS by 2011, 3605)

                    
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