Nevada Revised Statutes 645B.357 – Restriction on collection of fees by mortgage company; application of fees
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1. A mortgage company shall not assess or collect any fee which is not:
Terms Used In Nevada Revised Statutes 645B.357
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
(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.