1. If a borrower requests a foreclosure prevention alternative, the mortgage servicer must promptly establish a single point of contact and provide to the borrower one or more direct means of communication with the single point of contact.
2. A single point of contact is responsible for:
(a) Communicating the process by which a borrower may apply for an available foreclosure prevention alternative and the deadline for any required submissions to be considered for the foreclosure prevention alternatives.
(b) Coordinating receipt of all documents associated with the available foreclosure prevention alternatives and notifying the borrower of any missing documents necessary to complete an application for a foreclosure prevention alternative.
(c) Having access to current information and personnel sufficient to timely, accurately and adequately inform the borrower of the current status of the foreclosure prevention alternative.
(d) Ensuring that the borrower is considered for all foreclosure prevention alternatives offered by, or through, the mortgage servicer and for which the borrower is or may be eligible.
(e) Having access to a person or persons with the ability and authority to stop the foreclosure process when necessary.
3. A single point of contact must remain assigned to the borrower’s account until the mortgage servicer determines that all foreclosure prevention alternatives offered by, or through, the mortgage servicer have been exhausted or the borrower’s account becomes current.
4. The mortgage servicer shall ensure that a single point of contact refers and transfers a borrower to an appropriate supervisor upon request of the borrower, if the single point of contact has a supervisor.
5. If the responsibilities of a single point of contact are performed by a team of personnel, the mortgage servicer must ensure that each member of the team is knowledgeable about the borrower’s situation and current status in the process of seeking a foreclosure prevention alternative.
6. As used in this section, "single point of contact" means a natural person or a team of personnel each of whom has the ability and authority to perform the responsibilities described in this section.
(Added to NRS by 2013, 2192)
Structure Nevada Revised Statutes
NRS 107.020 - Transfers in trust of real property to secure obligations.
NRS 107.026 - Priority of certain deeds of trust over other liens.
NRS 107.029 - Trustees: Declaration of nonmonetary status; objection to declaration.
NRS 107.040 - Adoption of covenants by reference in instrument.
NRS 107.050 - Parties may enter into different or additional covenants.
NRS 107.055 - Amount must be stated in instrument.
NRS 107.0795 - "Abandoned residential property" defined.
NRS 107.081 - Time and place of sale; agent holding sale not to be purchaser.
NRS 107.082 - Oral postponement of sale.
NRS 107.083 - Proceedings after purchaser refuses to pay amount bid.
NRS 107.084 - Penalty for removing or defacing notice of sale.
NRS 107.0865 - Mediation to negotiate loan modification.
NRS 107.087 - Notice of default and election to sell in residential foreclosure: Requirements.
NRS 107.095 - Notice of default: Mailing to guarantor or surety of debt; effect of failure to give.
NRS 107.100 - Receiver: Appointment after filing notice of breach and election to sell.
NRS 107.140 - Sale in lieu of foreclosure sale: Limitations.
NRS 107.200 - Contents of statement regarding debt secured by deed of trust.
NRS 107.210 - Contents of statement of amount necessary to discharge debt secured by deed of trust.
NRS 107.230 - Proof of authorization to request statement.
NRS 107.240 - Grounds for refusal to deliver statement.
NRS 107.260 - Copy of note or deed of trust for authorized requester.
NRS 107.270 - Address to which request for statement must be mailed.
NRS 107.280 - Debt to which information contained in statement is applicable.
NRS 107.300 - Penalty for failure to deliver statement; bar to recovery of certain damages.
NRS 107.310 - Fee for furnishing statement.
NRS 107.311 - Applicability of NRS 107.310.
NRS 107.410 - "Borrower" defined.
NRS 107.420 - "Foreclosure prevention alternative" defined.
NRS 107.430 - "Foreclosure sale" defined.
NRS 107.440 - "Mortgage servicer" defined.
NRS 107.450 - "Residential mortgage loan" defined.
NRS 107.470 - Right of borrower to pursue more than one foreclosure prevention alternative.
NRS 107.480 - Restrictions on trustee’s power of sale and civil actions for foreclosure sales.