Requirement that loan include disclosure concerning fees.

NRS 645B.305 Requirement that loan include disclosure concerning fees. A mortgage company shall ensure that each loan secured by a lien on real property for which he or she engages in activity as a mortgage company includes a disclosure: 1. Describing, in a specific dollar amount, all fees earned by the mortgage company; 2. Explaining which party is responsible for the payment of the fees described in subsection 1; and 3. Explaining the probable impact the fees described in subsection 1 may have on the terms of the loan, including, without limitation, the interest rates. (Added to NRS by 2007, 951; A 2009, 1556; 2011, 3617; 2017, 3061)