645B.310 - Requirements for mortgage broker to assign interest in loan. - Nevada Statutes

State Codes and Statutes

Statutes > Nevada > Title-54 > Chapter-645b > Conditions-and-limitations-on-certain-mortgage-transactions > 645b-310

645B.310 Requirements for mortgage broker to assign interest in loan. A mortgage broker shall not assign all or a part of his or her interest in a loan secured by a lien on real property, unless the mortgage broker:

1. Obtains a policy of title insurance for the real property;

2. Obtains the approval of the assignment from each investor who has acquired ownership of or a beneficial interest in the loan if, at the time of the assignment, the debtor on the loan has defaulted in making a payment required for the loan or any portion of the loan; and

3. Records the assignment in the office of the county recorder of the county in which the real property is located.

(Added to NRS by 1985, 2185; A 1999, 3800; 2007, 959)

State Codes and Statutes

Statutes > Nevada > Title-54 > Chapter-645b > Conditions-and-limitations-on-certain-mortgage-transactions > 645b-310

645B.310 Requirements for mortgage broker to assign interest in loan. A mortgage broker shall not assign all or a part of his or her interest in a loan secured by a lien on real property, unless the mortgage broker:

1. Obtains a policy of title insurance for the real property;

2. Obtains the approval of the assignment from each investor who has acquired ownership of or a beneficial interest in the loan if, at the time of the assignment, the debtor on the loan has defaulted in making a payment required for the loan or any portion of the loan; and

3. Records the assignment in the office of the county recorder of the county in which the real property is located.

(Added to NRS by 1985, 2185; A 1999, 3800; 2007, 959)

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State Codes and Statutes

Statutes > Nevada > Title-54 > Chapter-645b > Conditions-and-limitations-on-certain-mortgage-transactions > 645b-310

645B.310 Requirements for mortgage broker to assign interest in loan. A mortgage broker shall not assign all or a part of his or her interest in a loan secured by a lien on real property, unless the mortgage broker:

1. Obtains a policy of title insurance for the real property;

2. Obtains the approval of the assignment from each investor who has acquired ownership of or a beneficial interest in the loan if, at the time of the assignment, the debtor on the loan has defaulted in making a payment required for the loan or any portion of the loan; and

3. Records the assignment in the office of the county recorder of the county in which the real property is located.

(Added to NRS by 1985, 2185; A 1999, 3800; 2007, 959)