Mortgage broker prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective through December 31, 2019.]

  1. Law
  2. Nevada Revised Statutes
  3. Mortgage Companies and Mortgage Loan Originators
  4. Mortgage broker prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective through December 31, 2019.]

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Except as otherwise permitted by law, a mortgage broker shall not release a borrower or guarantor from personal liability for a loan unless a majority of the investors approve such a release.

(Added to NRS by 2011, 3604)


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