NRS 645B.0147
Fiduciary obligation of licensee to client.
1.
In addition to any other duties set forth in this chapter, any person licensed pursuant to this chapter has a fiduciary obligation to a client.2.
For the purposes of this section, a person’s fiduciary obligation does not impose a requirement to offer or obtain access to loan products or services for a client other than those that are offered by the person at the time of the transaction.3.
As used in this section, “fiduciary obligation” means a duty of good faith and fair dealing, including, without limitation, the duty to:(a)
Act in the client’s best interest;(b)
Conduct only those mortgage transactions which are suitable for the client’s needs;(c)
Disclose any financial, business, professional or personal interest the person has in conducting a mortgage transaction for the client;(d)
Disclose any material fact that the person knows or should know may affect the client’s rights or interests or the ability to obtain the intended benefit from the mortgage transaction;(e)
Provide an accounting to the client that lists all money and property received from the client;(f)
Not accept or collect any fee for services rendered unless the fee was disclosed to the client before the service is provided; and(g)
Exercise reasonable care in performing any other duty relating to a mortgage transaction.
Source:
Section 645B.0147 — Fiduciary obligation of licensee to client., https://www.leg.state.nv.us/NRS/NRS-645B.html#NRS645BSec0147.