Restriction on collection of fees by mortgage company; application of fees.

NRS 645B.357 Restriction on collection of fees by mortgage company; application of fees. 1. A mortgage company shall not assess or collect any fee which is not: (a) Authorized by the loan documents or loan servicing agreement; and (b) Assessed or collected in exchange for bona fide services rendered or costs incurred. 2. A mortgage company shall apply all fees collected in the manner set forth in the loan documents or loan servicing agreement. (Added to NRS by 2011, 3605; A 2017, 3067) MORTGAGE LOAN ORIGINATORS