Nev. Admin. Code § 645F.045 - "Loan modification" defined

Current through October 13, 2021

"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.

Notes

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

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