NRS 107.490
Duties of mortgage servicer.

1.

Any duty of a mortgage servicer to maximize net present value under a pooling and servicing agreement is owed to all parties in a loan pool, or to all investors under a pooling and servicing agreement, not to any particular party in the loan pool or investor under a pooling and servicing agreement.

2.

A mortgage servicer acts in the best interests of all parties to the loan pool or investors in the pooling and servicing agreement if the mortgage servicer agrees to or implements a foreclosure prevention alternative for which both of the following apply:

(a)

The residential mortgage loan is in payment default or payment default is reasonably foreseeable.

(b)

Anticipated recovery under the foreclosure prevention alternative exceeds the anticipated recovery through foreclosure on a net present value basis.

Source: Section 107.490 — Duties of mortgage servicer., https://www.­leg.­state.­nv.­us/NRS/NRS-107.­html#NRS107Sec490.

Last Updated

Feb. 5, 2021

§ 107.490’s source at nv​.us