NRS645F.365. “Loan modification consultant” defined.

Latest version.

“Loan modification consultant” means a person who, directly or indirectly, makes any solicitation, representation or offer to a homeowner to perform for compensation, or who, for compensation, performs any act that the person represents will adjust the terms of a mortgage loan in a manner not provided for in the original or previously modified mortgage loan. Such an adjustment includes, without limitation:

      1. A change in the payment amount;

      2. A change in the loan amount;

      3. A loan forbearance;

      4. A change in the loan maturity; and

      5. A change in the interest rate.

(Added to NRS by 2009, 1457)

                    
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