Nevada § 107.490 - Duties of mortgage servicer
Full text of Nevada Nevada Revised Statutes § 107.490 — Duties of mortgage servicer, with citation guidance and answers to common questions.
§ 107.490. Duties of mortgage servicer
1. Any duty of a mortgage servicer to maximize net present value under a pooling and
servicing agreement is owed to all parties in a loan pool, or to all investors under
a pooling and servicing agreement, not to any particular party in the loan pool or
investor under a pooling and servicing agreement. 2. A mortgage servicer acts in the best interests of all parties to the loan pool
or investors in the pooling and servicing agreement if the mortgage servicer agrees
to or implements a foreclosure prevention alternative for which both of the following
apply: (a) The residential mortgage loan is in payment default or payment default is reasonably
foreseeable. (b) Anticipated recovery under the foreclosure prevention alternative exceeds the
anticipated recovery through foreclosure on a net present value basis.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 107.490
What does Nevada Revised Statutes § 107.490 cover?
Section 107.490 ("Duties of mortgage servicer") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 107.490?
A common citation format is "Nevada Revised Statutes § 107.490" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 107.490 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.