reglab/housing_qa huggingface dataset:
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 January 1, 2020.]

  1. Except as otherwise provided in subsection 4, a mortgage company or mortgage loan originator 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 company 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 company’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 company or a mortgage loan originator, unless the mortgage company or mortgage loan originator 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 company 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 company is not required to obtain a written appraisal of the real property pursuant to this section if the mortgage company 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 company or mortgage loan originator 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 company obtains a written waiver of the appraisal as provided in subsection 4, the mortgage company 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 company.  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; 2017, 3060, effective January 1, 2020)
NV Rev Stat § 645B.305 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.305 - Requirement that loan include disclosure concerning fees. [Effective through December 31, 2019.]

A mortgage broker shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage broker includes a disclosure:  1. Describing, in a specific dollar amount, all fees earned by the mortgage broker;  2. Explaining which party is responsible for the payment of the fees described in subsection 1; and  3. Explaining the probable impact the fees described in subsection 1 may have on the terms of the loan, including, without limitation, the interest rates.  (Added to NRS by 2007, 951; A 2009, 1556; 2011, 3617)
NV Rev Stat § 645B.305 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.305 - Requirement that loan include disclosure concerning fees. [Effective January 1, 2020.]

A mortgage company shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage company includes a disclosure:  1. Describing, in a specific dollar amount, all fees earned by the mortgage company;  2. Explaining which party is responsible for the payment of the fees described in subsection 1; and  3. Explaining the probable impact the fees described in subsection 1 may have on the terms of the loan, including, without limitation, the interest rates.  (Added to NRS by 2007, 951; A 2009, 1556; 2011, 3617; 2017, 3061, effective January 1, 2020)
NV Rev Stat § 645B.307 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.307 - Mortgage broker required to include his or her license number or identifying number with loan. [Effective through December 31, 2019.]

A mortgage broker shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage broker includes:  1. If the mortgage broker is not registered with the Registry, the license number of the mortgage broker; or  2. Any identifying number issued by the Registry.  (Added to NRS by 2009, 1453; A 2011, 3617)
NV Rev Stat § 645B.307 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.307 - Mortgage company required to include his or her license number or identifying number with loan. [Effective January 1, 2020.]

A mortgage company shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage company includes:  1. If the mortgage company is not registered with the Registry, the license number of the mortgage company; or  2. Any identifying number issued by the Registry.  (Added to NRS by 2009, 1453; A 2011, 3617; 2017, 3061, effective January 1, 2020)
NV Rev Stat § 645B.310 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.310 - Requirements for mortgage broker to assign interest in loan. [Effective through December 31, 2019.]

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)
NV Rev Stat § 645B.310 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.310 - Requirements for mortgage company to assign interest in loan. [Effective January 1, 2020.]

A mortgage company 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 company:  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; 2017, 3061, effective January 1, 2020)
NV Rev Stat § 645B.320 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.320 - Copy of recorded deed of trust must be mailed to each investor. [Effective through December 31, 2019.]

If money from an investor is released to a debtor or the debtor’s designee pursuant to subsection 2 of NRS 645B.175 upon completion of a loan secured by a lien on real property, the mortgage broker that arranged the loan shall, not later than 3 business days after the date on which the mortgage broker receives a copy of the recorded deed of trust, mail to the last known address of each investor who owns a beneficial interest in the loan a copy of the recorded deed of trust.  (Added to NRS by 1999, 3773)
NV Rev Stat § 645B.320 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.320 - Copy of recorded deed of trust must be mailed to each investor. [Effective January 1, 2020.]

If money from an investor is released to a debtor or the debtor’s designee pursuant to subsection 2 of NRS 645B.175 upon completion of a loan secured by a lien on real property, the mortgage company that arranged the loan shall, not later than 3 business days after the date on which the mortgage company receives a copy of the recorded deed of trust, mail to the last known address of each investor who owns a beneficial interest in the loan a copy of the recorded deed of trust.  (Added to NRS by 1999, 3773; A 2017, 3062, effective January 1, 2020)
NV Rev Stat § 645B.350 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.350 - Mortgage broker required to provide investors certain options before acquiring ownership or beneficial interest in loan. [Effective through December 31, 2019.]

A mortgage broker shall not accept money from an investor to acquire ownership of or a beneficial interest in a loan which has more than one investor at the time of origination unless the mortgage broker provides to each investor a form which allows the investor to choose one of the following options:  1. That, upon receipt of a written request submitted by another investor who owns or has a beneficial interest in the loan, the mortgage broker may provide to that other investor the name, address, telephone number and electronic mail address of the investor;  2. That, upon receipt of a written request submitted by another investor who owns or has a beneficial interest in the loan, the mortgage broker may provide to that other investor the name, address, telephone number and electronic mail address of the investor only if the loan is in default; or  3. That the address, telephone number and electronic mail address of the investor must remain confidential and that the mortgage broker may not provide that information to any other investor unless the investor provides the mortgage broker with subsequent written permission to provide such information to other investors.  (Added to NRS by 2011, 3603)
NV Rev Stat § 645B.350 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.350 - Mortgage company required to provide investors certain options before acquiring ownership or beneficial interest in loan. [Effective January 1, 2020.]

A mortgage company shall not accept money from an investor to acquire ownership of or a beneficial interest in a loan which has more than one investor at the time of origination unless the mortgage company provides to each investor a form which allows the investor to choose one of the following options:  1. That, upon receipt of a written request submitted by another investor who owns or has a beneficial interest in the loan, the mortgage company may provide to that other investor the name, address, telephone number and electronic mail address of the investor;  2. That, upon receipt of a written request submitted by another investor who owns or has a beneficial interest in the loan, the mortgage company may provide to that other investor the name, address, telephone number and electronic mail address of the investor only if the loan is in default; or  3. That the address, telephone number and electronic mail address of the investor must remain confidential and that the mortgage company may not provide that information to any other investor unless the investor provides the mortgage company with subsequent written permission to provide such information to other investors.  (Added to NRS by 2011, 3603; A 2017, 3064, effective January 1, 2020)
NV Rev Stat § 645B.351 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.351 - Mortgage broker prohibited from including in loan document provision which requires participation in binding arbitration in event of dispute. [Effective through December 31, 2019.]

  1. A mortgage broker who makes or arranges a loan shall not include in any loan document a provision which requires a private investor to participate in binding arbitration of disputes relating to the loan.  2. The provisions of this section may not be varied by agreement, and the rights conferred by this section may not be waived. Any provision included in a loan document agreement that conflicts with this section is void.  (Added to NRS by 2011, 3603)
NV Rev Stat § 645B.351 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.351 - Mortgage company prohibited from including in loan document provision which requires participation in binding arbitration in event of dispute. [Effective January 1, 2020.]

  1. A mortgage company who makes or arranges a loan shall not include in any loan document a provision which requires a private investor to participate in binding arbitration of disputes relating to the loan.  2. The provisions of this section may not be varied by agreement, and the rights conferred by this section may not be waived. Any provision included in a loan document agreement that conflicts with this section is void.  (Added to NRS by 2011, 3603; A 2017, 3065, effective January 1, 2020)
NV Rev Stat § 645B.352 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.352 - Written servicing agreement required before servicing loan. [Effective through December 31, 2019.]

  1. Before servicing a loan in which a private investor has acquired a beneficial interest, a mortgage broker must enter into a written servicing agreement with each investor which describes specifically the services which the mortgage broker will provide and the compensation the mortgage broker will receive for those services. The compensation of the mortgage broker must include an amount reasonably necessary to pay the cost of servicing the loan.  2. A mortgage broker shall include in each servicing agreement provisions which:  (a) Require the mortgage broker to:  (1) Deposit in a trust account all money paid to the mortgage broker in full or partial payment of a loan, unless a provision of law authorizes the mortgage broker to deposit such money in a different manner;  (2) Release to the investors, pursuant to paragraph (a) of subsection 5 of NRS 645B.175, within 15 days after receipt of all money paid to the mortgage broker in full or partial payment of a loan;  (3) Record a request for special notice and notice of default for any encumbrance on the real property which has priority over the lien securing the loan or any other real property securing the loan;  (4) Provide to each investor prompt written notice of:  (I) Any lis pendens, mechanic’s lien or other lien recorded against the real property securing the loan after the origination of the loan if the mortgage broker has become aware that such an instrument has been recorded; and  (II) Any delinquent taxes or insurance premiums;  (5) Upon receiving a written request from an investor for a tally of any vote of the investors, provide to the investor a statement of the number of investors voting in favor of an action and the number of investors voting against the action and the percentage of beneficial interest represented by each such vote; and  (6) Respond within a reasonable time under the circumstances to the request of the borrower or investor to correct any errors relating to the loan.  (b) Prohibit the mortgage broker from:  (1) Commingling with the assets of the mortgage broker any money paid to the mortgage broker in full or partial payment of a loan, unless a provision of law authorizes such commingling;  (2) Using money paid to the mortgage broker in full or partial payment of a loan for any transaction other than the servicing transaction for which the money was paid, unless a provision of law authorizes such use; or  (3) Requiring an investor to participate in binding arbitration of disputes relating to the loan.  (c) Allow the majority of investors or the mortgage broker to transfer the servicing agreement to another entity authorized to service loans or terminate the servicing agreement for any reason, upon providing written notice at least 30 days before the effective date of the transfer or termination.  (Added to NRS by 2011, 3603)
NV Rev Stat § 645B.352 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.352 - Written servicing agreement required before servicing loan. [Effective January 1, 2020.]

  1. Before servicing a loan in which a private investor has acquired a beneficial interest, a mortgage company must enter into a written servicing agreement with each investor which describes specifically the services which the mortgage company will provide and the compensation the mortgage company will receive for those services. The compensation of the mortgage company must include an amount reasonably necessary to pay the cost of servicing the loan.  2. A mortgage company shall include in each servicing agreement provisions which:  (a) Require the mortgage company to:  (1) Deposit in a trust account all money paid to the mortgage company in full or partial payment of a loan, unless a provision of law authorizes the mortgage company to deposit such money in a different manner;  (2) Release to the investors, pursuant to paragraph (a) of subsection 5 of NRS 645B.175, within 15 days after receipt of all money paid to the mortgage company in full or partial payment of a loan;  (3) Record a request for special notice and notice of default for any encumbrance on the real property which has priority over the lien securing the loan or any other real property securing the loan;  (4) Provide to each investor prompt written notice of:  (I) Any lis pendens, mechanic’s lien or other lien recorded against the real property securing the loan after the origination of the loan if the mortgage company has become aware that such an instrument has been recorded; and  (II) Any delinquent taxes or insurance premiums;  (5) Upon receiving a written request from an investor for a tally of any vote of the investors, provide to the investor a statement of the number of investors voting in favor of an action and the number of investors voting against the action and the percentage of beneficial interest represented by each such vote; and  (6) Respond within a reasonable time under the circumstances to the request of the borrower or investor to correct any errors relating to the loan.  (b) Prohibit the mortgage company from:  (1) Commingling with the assets of the mortgage company any money paid to the mortgage company in full or partial payment of a loan, unless a provision of law authorizes such commingling;  (2) Using money paid to the mortgage company in full or partial payment of a loan for any transaction other than the servicing transaction for which the money was paid, unless a provision of law authorizes such use; or  (3) Requiring an investor to participate in binding arbitration of disputes relating to the loan.  (c) Allow the majority of investors or the mortgage company to transfer the servicing agreement to another entity authorized to service loans or terminate the servicing agreement for any reason, upon providing written notice at least 30 days before the effective date of the transfer or termination.  (Added to NRS by 2011, 3603; A 2017, 3065, effective January 1, 2020)
NV Rev Stat § 645B.353 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.353 - Mortgage broker prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective through December 31, 2019.]

Except as otherwise permitted by law, a mortgage broker shall not release a borrower or guarantor from personal liability for a loan unless a majority of the investors approve such a release.  (Added to NRS by 2011, 3604)
NV Rev Stat § 645B.353 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.353 - Mortgage company prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective January 1, 2020.]

Except as otherwise permitted by law, a mortgage company shall not release a borrower or guarantor from personal liability for a loan unless a majority of the investors approve such a release.  (Added to NRS by 2011, 3604; A 2017, 3066, effective January 1, 2020)
NV Rev Stat § 645B.354 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.354 - Restrictions on withholding money from certain investors; loan servicing agreement may contain provision which provides written consent to withhold money. [Effective through December 31, 2019.]

  1. If an investor owes money to the mortgage broker who is servicing a loan or to other investors, the mortgage broker shall not withhold money due the investor in order to offset the money owed to the mortgage broker or to another investor, unless:  (a) The mortgage broker obtains the written consent of the investor who owes the money; or  (b) A court order requires the mortgage broker to withhold the money.  2. A mortgage broker may include in a loan servicing agreement a provision which provides written consent to withhold money due an investor in order to offset money owed by the investor to the mortgage broker or other investors.  (Added to NRS by 2011, 3604)
NV Rev Stat § 645B.354 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.354 - Restrictions on withholding money from certain investors; loan servicing agreement may contain provision which provides written consent to withhold money. [Effective January 1, 2020.]

  1. If an investor owes money to the mortgage company who is servicing a loan or to other investors, the mortgage company shall not withhold money due the investor in order to offset the money owed to the mortgage company or to another investor, unless:  (a) The mortgage company obtains the written consent of the investor who owes the money; or  (b) A court order requires the mortgage company to withhold the money.  2. A mortgage company may include in a loan servicing agreement a provision which provides written consent to withhold money due an investor in order to offset money owed by the investor to the mortgage company or other investors.  (Added to NRS by 2011, 3604; A 2017, 3066, effective January 1, 2020)
NV Rev Stat § 645B.355 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.355 - Mortgage broker prohibited from acting as construction control. [Effective through December 31, 2019.]

A mortgage broker shall not act as a construction control with respect to money belonging to a borrower or investor. If a borrower or investor wishes to utilize a construction control for money belonging to the borrower or investor, a mortgage broker must place the money with a person who is independent of the mortgage broker and is licensed or authorized to accept such money. The money must be subject to the control of a construction control which is in compliance with, or exempt from, the provisions of NRS 627.180 or 627.183.  (Added to NRS by 2011, 3605)