Prohibition on advancing payments to investor on behalf of debtor in default; exceptions.

NRS 645B.250 Prohibition on advancing payments to investor on behalf of debtor in default; exceptions. Except pursuant to a contract for the collection or servicing of a loan which is governed by the requirements established by the Government National Mortgage Association, Federal Home Loan Mortgage Corporation or Federal National Mortgage Association, a mortgage company or mortgage loan originator shall not advance payments to an investor on behalf of a person who has obtained a loan secured by a lien on real property and who has defaulted in his or her payments. (Added to NRS by 1985, 2185; A 1989, 966; 1999, 3800; 2017, 3059)