1. A mortgage company shall not assess or collect any fee which is not:
(a) Authorized by the loan documents or loan servicing agreement; and
(b) Assessed or collected in exchange for bona fide services rendered or costs incurred.
2. A mortgage company shall apply all fees collected in the manner set forth in the loan documents or loan servicing agreement.
(Added to NRS by 2011, 3605; A 2017, 3067, effective January 1, 2020)
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