A mortgage company shall not assign all or a part of his or her interest in a loan secured by a lien on real property, unless the mortgage company:

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Terms Used In Nevada Revised Statutes 645B.310

  • county: includes Carson City. See Nevada Revised Statutes 0.033
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

1.  Obtains a policy of title insurance for the real property;

2.  Obtains the approval of the assignment from each investor who has acquired ownership of or a beneficial interest in the loan if, at the time of the assignment, the debtor on the loan has defaulted in making a payment required for the loan or any portion of the loan; and

3.  Records the assignment in the office of the county recorder of the county in which the real property is located.