2015 Nevada Revised Statutes
Chapter 645F - Mortgage Lending and Related Professions
NRS 645F.400 - Persons performing covered services for compensation: Prohibited acts.

1. A person who performs any covered service shall not:

(a) Claim, demand, charge, collect or receive any compensation except in accordance with the terms of a contract for covered services.

(b) Claim, demand, charge, collect or receive any fee, interest or other compensation for any reason which is not fully disclosed to the homeowner.

(c) Take or acquire, directly or indirectly, any wage assignment, lien on real or personal property, assignment of a homeowner’s equity, any interest in a residence or other security for the payment of compensation. Any such assignment or security is void and unenforceable.

(d) Receive any consideration from any third party in connection with a covered service provided to a homeowner unless the consideration is first fully disclosed to the homeowner.

(e) Accept a power of attorney from a homeowner for any purpose, other than to inspect documents as provided by law.

(f) Make any representation, express or implied, that a homeowner cannot or should not contact or communicate with his or her lender or servicer.

(g) Misrepresent any aspect of any covered service.

(h) Make any representation, express or implied, that a covered service is affiliated with, associated with or endorsed or approved by:

(1) The Federal Government, the State of Nevada or any department, agency or political subdivision thereof;

(2) Any governmental plan for homeowner assistance;

(3) Any nonprofit housing counselor agency or program;

(4) The maker, holder or servicer of a homeowner’s mortgage loan; or

(5) Any other person, entity or program.

(i) Make any representation, express or implied, about the benefits, performance or efficacy of any covered service unless, at the time the representation is made, the person who performs any covered service, the foreclosure consultant or the loan modification consultant possesses and relies upon competent and reliable evidence which substantiates that the representation is true. As used in this paragraph, “competent and reliable evidence” means tests, analyses, research, studies or other evidence based on the expertise of professionals in the relevant area that have been conducted and evaluated in an objective manner by persons qualified to do so using procedures generally accepted in the profession to yield accurate and reliable results.

(j) Obtain or attempt to obtain any waiver of the provisions of NRS 645F.300 to 645F.450, inclusive, or any regulations adopted pursuant thereto. Any such waiver is void and unenforceable.

2. In addition to any other penalty, a violation of any provision of this section shall be deemed to constitute mortgage lending fraud for the purposes of NRS 205.372.

(Added to NRS by 2007, 2856; A 2009, 1461; 2011, 1577, 3642)