Nevada § 107.490 Duties of mortgage servicer

Nevada Statutes

§ 107.490 — Duties of mortgage servicer

Nevada § 107.490

Title 9SECURITY INSTRUMENTS OF PUBLIC UTILITIES; MORTGAGES;

Ch. 107Deeds

ADDITIONAL REQUIREMENTS FOR FORECLOSURE OF OWNER-OCCUPIED HOUSING SECURING RESIDENTIAL MORTGAGE LOAN

This text of Nevada § 107.490 (Duties of mortgage servicer) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 107.490 (2026).

Text

1. Any duty of a mortgage servicer to maximize net present value under a pooling and servicing agreement is owed to all parties in a loan pool, or to all investors under a pooling and servicing agreement, not to any particular party in the loan pool or investor under a pooling and servicing agreement. 2. A mortgage servicer acts in the best interests of all parties to the loan pool or investors in the pooling and servicing agreement if the mortgage servicer agrees to or implements a foreclosure prevention alternative for which both of the following apply:

(a)The residential mortgage loan is in payment default or payment default is reasonably foreseeable.

(b)Anticipated recovery under the foreclosure prevention alternative exceeds the anticipated recovery through foreclosure on a net pres

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1. Any duty of a mortgage servicer to maximize net present value under a pooling and servicing agreement is owed to all parties in a loan pool, or to all investors under a pooling and servicing agreement, not to any particular party in the loan pool or investor under a pooling and servicing agreement.
2. A mortgage servicer acts in the best interests of all parties to the loan pool or investors in the pooling and servicing agreement if the mortgage servicer agrees to or implements a foreclosure prevention alternative for which both of the following apply:
(a) The residential mortgage loan is in payment default or payment default is reasonably foreseeable.
(b) Anticipated recovery under the foreclosure prevention alternative exceeds the anticipated recovery through foreclosure on a net present value basis.