Section 645F.976 - Fiduciary obligation1. A mortgage servicer has a duty of good faith and fair dealing in its communications, transactions and course of dealings with each borrower in connection with the servicing of the borrower's mortgage loan.2. In addition to any duties imposed by other statutes or at common law, a mortgage servicer shall: (a) Safeguard and account for any money handled for the borrower or lender.(b) Follow reasonable and lawful instructions from the borrower or lender.(c) Act with reasonable skill, care and diligence.(d) File with the Commissioner a complete and current schedule of the ranges of costs and fees the mortgage servicer charges a borrower for its servicing-related activities with its application and renewal and with any of its supplemental filings.(e) At the time a mortgage servicer accepts assignment of servicing rights for a mortgage loan, the mortgage servicer shall disclose to the borrower:(1) Any notice required by federal law or regulation.(2) A schedule of the ranges and categories of its costs and fees for its servicing-related activities, which must comply with state and federal law and which must not exceed those reported to the Commissioner pursuant to paragraph (d).Nev. Admin. Code § 645F.976
Added to NAC by Comm'r of Mortgage Lending by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.NRS 645F.255 and section 86.4 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2806