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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 54. Professions, Occupations and Businesses § 645B.354. Restrictions on withholding money from certain investors; loan servicing agreement may contain provision which provides written consent to withhold money - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-54-professions-occupations-and-businesses/nv-rev-st-645b-354/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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