reglab/housing_qa huggingface dataset:
NV Rev Stat § 645B.187 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.187 - Prohibition on making certain guarantees in advertisements and solicitations; limitations on payment of premium interest; penalty. [Effective January 1, 2020.]

  1. If a mortgage company or mortgage loan originator solicits or receives money from an investor, the mortgage company or mortgage loan originator shall not:  (a) In any advertisement; or  (b) Before, during or after solicitation or receipt of money from the investor,  make, or cause or encourage to be made, any explicit or implicit statement, representation or promise, oral or written, which a reasonable person would construe as a guarantee that the investor will be repaid the principal amount of money he or she invests or will earn a specific rate of return or a specific rate of interest on the principal amount of money he or she invests.  2. If a mortgage company offers to pay or pays premium interest on money that the mortgage company receives from a person to acquire ownership of or a beneficial interest in a loan secured by a lien on real property or in full or partial payment of such a loan:  (a) The premium interest must be paid from the assets or income of the mortgage company; and  (b) The mortgage company or a mortgage loan originator shall not:  (1) In any advertisement; or  (2) Before, during or after receipt of money from such a person,  make, or cause or encourage to be made, any explicit or implicit statement, representation or promise, oral or written, which a reasonable person would construe as a guarantee that the mortgage company will pay the premium interest.  3. A person who violates any provision of this section is guilty of a misdemeanor and shall be punished as provided in NRS 645B.950.  4. As used in this section, "premium interest" means that amount of interest a mortgage company pays to a person which exceeds the amount which is being obtained from the insured depository financial institution.  (Added to NRS by 1985, 2185; A 1999, 3799; 2017, 3057, effective January 1, 2020)
NV Rev Stat § 645B.189 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.189 - Statements of disclosure required in certain advertisements; review of advertisements by Commissioner; advertisements must comply with state and federal laws concerning deceptive trade practices and deceptive advertising; regulations. [Effective through December 31, 2019.]

  1. If, in carrying on his or her business, a mortgage broker uses an advertisement that is designed, intended or reasonably likely to solicit money from private investors, the mortgage broker shall include in each such advertisement a statement of disclosure in substantially the following form: Money invested through a mortgage broker is not guaranteed to earn any interest or return and is not insured.  2. A mortgage broker shall include in each advertisement that the mortgage broker uses in carrying on his or her business any statements of disclosure required pursuant to the regulations adopted by the Commissioner or required pursuant to an order of the Commissioner entered in accordance with subsections 7 and 8 of NRS 645B.185.  3. Each mortgage broker who has received an initial license within the past 12 months shall submit any proposed advertisement that the mortgage broker intends to use in carrying on his or her business to the Commissioner for approval.  4. In addition to the requirements set forth in this chapter, each advertisement that a mortgage broker uses in carrying on his or her business must comply with the requirements of:  (a) NRS 598.0903 to 598.0999, inclusive, concerning deceptive trade practices; and  (b) Any applicable federal statute or regulation concerning deceptive advertising and the advertising of interest rates.  5. If a mortgage broker violates any provision of NRS 598.0903 to 598.0999, inclusive, concerning deceptive trade practices or any federal statute or regulation concerning deceptive advertising or the advertising of interest rates, in addition to any sanction or penalty imposed by state or federal law upon the mortgage broker for the violation, the Commissioner may take any disciplinary action set forth in paragraph (b) of subsection 1 of NRS 645B.670 against the mortgage broker.  6. The Commissioner may adopt any regulations that are necessary to carry out the provisions of this section.  (Added to NRS by 1985, 2185; A 1987, 1886; 1999, 3799; 2001, 2470; 2007, 958; 2013, 115)
NV Rev Stat § 645B.189 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.189 - Statements of disclosure required in certain advertisements; review of advertisements by Commissioner; advertisements must comply with state and federal laws concerning deceptive trade practices and deceptive advertising; regulations. [Effective January 1, 2020.]

  1. If, in carrying on his or her business, a mortgage company uses an advertisement that is designed, intended or reasonably likely to solicit money from private investors, the mortgage company shall include in each such advertisement a statement of disclosure in substantially the following form: Money invested through a mortgage company is not guaranteed to earn any interest or return and is not insured.  2. A mortgage company shall include in each advertisement that the mortgage company uses in carrying on his or her business any statements of disclosure required pursuant to the regulations adopted by the Commissioner or required pursuant to an order of the Commissioner entered in accordance with subsections 7 and 8 of NRS 645B.185.  3. Each mortgage company who has received an initial license within the past 12 months shall submit any proposed advertisement that the mortgage company intends to use in carrying on his or her business to the Commissioner for approval.  4. In addition to the requirements set forth in this chapter, each advertisement that a mortgage company uses in carrying on his or her business must comply with the requirements of:  (a) NRS 598.0903 to 598.0999, inclusive, concerning deceptive trade practices; and  (b) Any applicable federal statute or regulation concerning deceptive advertising and the advertising of interest rates.  5. If a mortgage company violates any provision of NRS 598.0903 to 598.0999, inclusive, concerning deceptive trade practices or any federal statute or regulation concerning deceptive advertising or the advertising of interest rates, in addition to any sanction or penalty imposed by state or federal law upon the mortgage company for the violation, the Commissioner may take any disciplinary action set forth in paragraph (b) of subsection 1 of NRS 645B.670 against the mortgage company.  6. The Commissioner may adopt any regulations that are necessary to carry out the provisions of this section.  (Added to NRS by 1985, 2185; A 1987, 1886; 1999, 3799; 2001, 2470; 2007, 958; 2013, 115; 2017, 3058, effective January 1, 2020)
NV Rev Stat § 645B.196 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.196 - Liability of advertising spokesperson for mortgage broker for certain damages. [Effective through December 31, 2019.]

  1. An advertising spokesperson for a mortgage broker is jointly and severally liable with the mortgage broker for damages caused by the mortgage broker by fraud, embezzlement, misappropriation of property, a violation of the provisions of this chapter or the regulations adopted pursuant thereto, or an action of the mortgage broker that is grounds for disciplinary action, if:  (a) The advertising spokesperson knew or should have known of the fraud, embezzlement, misappropriation of property, violation of the provisions of this chapter or the regulations adopted pursuant thereto, or action of the mortgage broker that is grounds for disciplinary action; or  (b) In advertising for the mortgage broker, the advertising spokesperson knew or should have known that:  (1) The conduct of the advertising spokesperson was likely to deceive, defraud or harm the public or any person who engaged in business with the mortgage broker; or  (2) The advertising spokesperson was disseminating material information concerning the mortgage broker or the business, products or services of the mortgage broker which was false or misleading.  2. As used in this section:  (a) "Advertising for a mortgage broker" means advertising or otherwise promoting a mortgage broker or the business, products or services of the mortgage broker using any medium of communication.  (b) "Advertising spokesperson for a mortgage broker" or "advertising spokesperson" means a person who consents to and receives compensation for using his or her name or likeness in advertising for a mortgage broker.  (Added to NRS by 2003, 3543)
NV Rev Stat § 645B.196 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.196 - Liability of advertising spokesperson for mortgage company for certain damages. [Effective January 1, 2020.]

  1. An advertising spokesperson for a mortgage company is jointly and severally liable with the mortgage company for damages caused by the mortgage company by fraud, embezzlement, misappropriation of property, a violation of the provisions of this chapter or the regulations adopted pursuant thereto, or an action of the mortgage company that is grounds for disciplinary action, if:  (a) The advertising spokesperson knew or should have known of the fraud, embezzlement, misappropriation of property, violation of the provisions of this chapter or the regulations adopted pursuant thereto, or action of the mortgage company that is grounds for disciplinary action; or  (b) In advertising for the mortgage company, the advertising spokesperson knew or should have known that:  (1) The conduct of the advertising spokesperson was likely to deceive, defraud or harm the public or any person who engaged in business with the mortgage company; or  (2) The advertising spokesperson was disseminating material information concerning the mortgage company or the business, products or services of the mortgage company which was false or misleading.  2. As used in this section:  (a) "Advertising for a mortgage company" means advertising or otherwise promoting a mortgage company or the business, products or services of the mortgage company using any medium of communication.  (b) "Advertising spokesperson for a mortgage company" or "advertising spokesperson" means a person who consents to and receives compensation for using his or her name or likeness in advertising for a mortgage company.  (Added to NRS by 2003, 3543; A 2017, 3058, effective January 1, 2020)
NV Rev Stat § 645B.240 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.240 - Limitations on charging late fee, additional amount of interest or other penalty. [Effective through December 31, 2019.]

  1. If a person is required to make a payment to a mortgage broker pursuant to the terms of a loan secured by a lien on real property, the mortgage broker may not charge the person a late fee, an additional amount of interest or any other penalty in connection with that payment if the payment is delivered to the mortgage broker before 5 p.m. on:  (a) The day that the payment is due pursuant to the terms of the loan, if an office of the mortgage broker is open to customers until 5 p.m. on that day; or  (b) The next day that an office of the mortgage broker is open to customers until 5 p.m., if the provisions of paragraph (a) do not otherwise apply.  2. A person and a mortgage broker or mortgage agent may not agree to alter or waive the provisions of this section by contract or other agreement, and any such contract or agreement is void and must not be given effect to the extent that it violates the provisions of this section.  (Added to NRS by 1999, 3773)
NV Rev Stat § 645B.240 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.240 - Limitations on charging late fee, additional amount of interest or other penalty. [Effective January 1, 2020.]

  1. If a person is required to make a payment to a mortgage company pursuant to the terms of a loan secured by a lien on real property, the mortgage company may not charge the person a late fee, an additional amount of interest or any other penalty in connection with that payment if the payment is delivered to the mortgage company before 5 p.m. on:  (a) The day that the payment is due pursuant to the terms of the loan, if an office of the mortgage company is open to customers until 5 p.m. on that day; or  (b) The next day that an office of the mortgage company is open to customers until 5 p.m., if the provisions of paragraph (a) do not otherwise apply.  2. A person and a mortgage company or mortgage loan originator may not agree to alter or waive the provisions of this section by contract or other agreement, and any such contract or agreement is void and must not be given effect to the extent that it violates the provisions of this section.  (Added to NRS by 1999, 3773; A 2017, 3059, effective January 1, 2020)
NV Rev Stat § 645B.250 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.250 - Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. [Effective through December 31, 2019.]

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)
NV Rev Stat § 645B.250 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.250 - Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. [Effective January 1, 2020.]

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 company or mortgage loan originator 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; 2017, 3059, effective January 1, 2020)
NV Rev Stat § 645B.260 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.260 - Monthly report to Commissioner on delinquencies in payments and defaults; monthly notice to investors; regulations. [Effective through December 31, 2019.]

  1. If a mortgage broker maintains any accounts described in subsection 4 of NRS 645B.175 in which the mortgage broker deposits payments from a debtor on a loan secured by a lien on real property and, on the last day of any month, the debtor has failed to make two or more consecutive payments in accordance with the terms of the loan, the mortgage broker shall:  (a) Include in the report that the mortgage broker submits to the Commissioner pursuant to subsection 2 of NRS 645B.080, if any, the information relating to delinquencies in payments and defaults that is required by the regulations adopted pursuant to subsection 2;  (b) Not later than 15 days after the last day of each such month, mail to the last known address of each investor who owns a beneficial interest in the loan a notice containing the information relating to delinquencies in payments and defaults that is required by the regulations adopted pursuant to subsection 2; and  (c) Comply with the provisions of this section each month on a continuing basis until:  (1) The debtor or the debtor’s designee remedies the delinquency in payments and any default; or  (2) The lien securing the loan is extinguished.  2. The Commissioner:  (a) Shall adopt regulations prescribing the information relating to delinquencies in payments and defaults that a mortgage broker must include in his or her report to the Commissioner and in the notice mailed to investors pursuant to subsection 1. Such regulations may provide for variations between the information that a mortgage broker must include in his or her report to the Commissioner and the information that a mortgage broker must include in the notice mailed to investors.  (b) May adopt any other regulations that are necessary to carry out the provisions of this section.  (Added to NRS by 1999, 3773; A 2017, 3595)
NV Rev Stat § 645B.260 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.260 - Monthly report to Commissioner on delinquencies in payments and defaults; monthly notice to investors; regulations. [Effective January 1, 2020.]

  1. If a mortgage company maintains any accounts described in subsection 4 of NRS 645B.175 in which the mortgage company deposits payments from a debtor on a loan secured by a lien on real property and, on the last day of any month, the debtor has failed to make two or more consecutive payments in accordance with the terms of the loan, the mortgage company shall:  (a) Include in the report that the mortgage company submits to the Commissioner pursuant to subsection 2 of NRS 645B.080, if any, the information relating to delinquencies in payments and defaults that is required by the regulations adopted pursuant to subsection 2;  (b) Not later than 15 days after the last day of each such month, mail to the last known address of each investor who owns a beneficial interest in the loan a notice containing the information relating to delinquencies in payments and defaults that is required by the regulations adopted pursuant to subsection 2; and  (c) Comply with the provisions of this section each month on a continuing basis until:  (1) The debtor or the debtor’s designee remedies the delinquency in payments and any default; or  (2) The lien securing the loan is extinguished.  2. The Commissioner:  (a) Shall adopt regulations prescribing the information relating to delinquencies in payments and defaults that a mortgage company must include in his or her report to the Commissioner and in the notice mailed to investors pursuant to subsection 1. Such regulations may provide for variations between the information that a mortgage company must include in his or her report to the Commissioner and the information that a mortgage company must include in the notice mailed to investors.  (b) May adopt any other regulations that are necessary to carry out the provisions of this section.  (Added to NRS by 1999, 3773; A 2017, 3060, 3595, effective January 1, 2020)
NV Rev Stat § 645B.300 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.300 - Written appraisal of real property required; persons authorized to perform appraisal; retention and inspection of appraisal; exceptions. [Effective through December 31, 2019.]

  1. Except as otherwise provided in subsection 4, a mortgage broker or mortgage agent shall not accept money from an investor to acquire ownership of or a beneficial interest in a loan secured by a lien on real property, unless the mortgage broker has obtained a written appraisal of the real property securing the loan.  2. The written appraisal of the real property:  (a) Must be completed not more than 6 months before the mortgage broker’s first solicitation for the loan;  (b) Must meet the standards set forth in the Uniform Standards of Professional Appraisal Practice as adopted by the Appraisal Standards Board of The Appraisal Foundation;  (c) Must be performed by an appraiser who is authorized to perform appraisals in this State or in the state where the real property securing the loan is located; and  (d) Must not be performed by the mortgage broker or a mortgage agent, unless the mortgage broker or mortgage agent is certified or licensed to perform such an appraisal pursuant to chapter 645C of NRS.  3. A copy of the written appraisal of the real property must be:  (a) Maintained at each office of the mortgage broker where money is accepted from an investor to acquire ownership of or a beneficial interest in a loan secured by a lien on the real property; and  (b) Made available during normal business hours for inspection by each such investor and the Commissioner.  4. A mortgage broker is not required to obtain a written appraisal of the real property pursuant to this section if the mortgage broker obtains a written waiver of the appraisal from each investor who acquires ownership of or a beneficial interest in a loan secured by a lien on the real property. A mortgage broker or mortgage agent shall not act as the attorney-in-fact or the agent of an investor with respect to the giving of a written waiver pursuant to this subsection.  5. If the mortgage broker obtains a written waiver of the appraisal as provided in subsection 4, the mortgage broker shall provide to each investor before accepting any money from the investor a separate written disclosure which contains the information analyzed, the valuation methods and techniques employed and the reasoning for any opinion regarding value provided by or on behalf of the mortgage broker.  6. As used in this section, "appraisal" has the meaning ascribed to it in NRS 645C.030.  (Added to NRS by 1999, 3772; A 2009, 1451)