Nev. Admin. Code § 645F.045

Current through October 11, 2024

Section 645F.045 - "Loan modification" defined

"Loan modification" means the adjustment of the terms of a mortgage loan in a manner that is not provided for in the original or previously modified mortgage loan. Such an adjustment includes, but is not limited to:

1. A change in the payment amount;

2. A change in the loan amount;

3. A loan forbearance;

4. A change in the loan maturity; and

5. A change in the interest rate.

Nev. Admin. Code § 645F.045

Added to NAC by Comm'r of Mortgage Lending by R052-09, eff. 8-25-2009

NRS 645F.255, 645F.390