645B.250 - Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. - Nevada Statutes

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Statutes > Nevada > Title-54 > Chapter-645b > Loan-payments-and-defaults > 645b-250

645B.250 Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. Except pursuant to a contract for the collection or servicing of a loan which is governed by the requirements established by the Government National Mortgage Association, Federal Home Loan Mortgage Corporation or Federal National Mortgage Association, a mortgage broker or mortgage agent shall not advance payments to an investor on behalf of a person who has obtained a loan secured by a lien on real property and who has defaulted in his or her payments.

(Added to NRS by 1985, 2185; A 1989, 966; 1999, 3800)—(Substituted in revision for NRS 645B.191)

State Codes and Statutes

Statutes > Nevada > Title-54 > Chapter-645b > Loan-payments-and-defaults > 645b-250

645B.250 Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. Except pursuant to a contract for the collection or servicing of a loan which is governed by the requirements established by the Government National Mortgage Association, Federal Home Loan Mortgage Corporation or Federal National Mortgage Association, a mortgage broker or mortgage agent shall not advance payments to an investor on behalf of a person who has obtained a loan secured by a lien on real property and who has defaulted in his or her payments.

(Added to NRS by 1985, 2185; A 1989, 966; 1999, 3800)—(Substituted in revision for NRS 645B.191)

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State Codes and Statutes

Statutes > Nevada > Title-54 > Chapter-645b > Loan-payments-and-defaults > 645b-250

645B.250 Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. Except pursuant to a contract for the collection or servicing of a loan which is governed by the requirements established by the Government National Mortgage Association, Federal Home Loan Mortgage Corporation or Federal National Mortgage Association, a mortgage broker or mortgage agent shall not advance payments to an investor on behalf of a person who has obtained a loan secured by a lien on real property and who has defaulted in his or her payments.

(Added to NRS by 1985, 2185; A 1989, 966; 1999, 3800)—(Substituted in revision for NRS 645B.191)