Mortgage company prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective January 1, 2020.]

  1. Law
  2. Nevada Revised Statutes
  3. Mortgage Companies and Mortgage Loan Originators
  4. Mortgage company prohibited from releasing borrower or guarantor from personal liability without certain approval. [Effective January 1, 2020.]

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Except as otherwise permitted by law, a mortgage company 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; A 2017, 3066, effective January 1, 2020)


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