Nevada Revised Statutes 645B.01356 – ‘Wholesale lender’ defined
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‘Wholesale lender’ means a person who:
Terms Used In Nevada Revised Statutes 645B.01356
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. Holds himself or herself out:
(a) For hire to serve as an agent for any person who has money to lend, if the loan is or will be secured by a lien on real property;
(b) As being able to make loans secured by liens on real property; or
(c) As being able to buy or sell notes secured by liens on real property; and
2. Does not directly:
(a) Take or receive an application from a borrower for a loan which will be secured by a lien on real property; or
(b) Negotiate any terms with a borrower relating to a loan which will be secured by a lien on real property.