645F.400 - Foreclosure consultants, loan modification consultants and persons performing covered services for compensation: Prohibited acts. - Nevada Statutes

645F.400  Foreclosure consultants, loan modification consultants and persons performing covered services for compensation: Prohibited acts.

      1.  A person who performs any covered service, a foreclosure consultant and a loan modification consultant shall not:

      (a) Claim, demand, charge, collect or receive any compensation except in accordance with NRS 645F.394.

      (b) Claim, demand, charge, collect or receive any fee, interest or other compensation for any reason which is not fully disclosed to the homeowner.

      (c) Take any wage assignment, lien on real or personal property, assignment of a homeowner’s equity or other interest in a residence in foreclosure or other security for the payment of compensation. Any such security is void and unenforceable.

      (d) Receive any consideration from any third party in connection with a covered service provided to a homeowner unless the consideration is first fully disclosed to the homeowner.

      (e) Acquire, directly or indirectly, any interest in the residence in foreclosure of a homeowner with whom the foreclosure consultant has contracted to perform a covered service.

      (f) Accept a power of attorney from a homeowner for any purpose, other than to inspect documents as provided by law.

      2.  In addition to any other penalty, a violation of any provision of this section shall be deemed to constitute mortgage lending fraud for the purposes of NRS 205.372.

      (Added to NRS by 2007, 2856; A 2009, 1461)