The Division may:
1. Renegotiate, refinance or foreclose, or contract for the foreclosure of, any mortgage in default;
2. Waive any default or consent to the modification of the terms of any mortgage;
3. Commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract or other agreement;
4. Bid for and purchase property upon which it holds a mortgage at any foreclosure or at any other sale, or acquire and take possession of any such property;
5. Operate, manage, lease, dispose of and otherwise deal with such property in such manner as may be necessary to protect the interest of the Division and the holders of its bonds, notes and other obligations; and
6. Consent to any modification with respect to rate of interest, time and payment of any installment of principal or interest, security or any other term of any contract, mortgage, mortgage loan, mortgage loan commitment, contract or agreement of any kind to which the Division is a party, subject to any agreement with bondholders or noteholders.
(Added to NRS by 1975, 629)
Structure Nevada Revised Statutes
Chapter 319 - Assistance to Finance Housing
NRS 319.020 - Legislative findings and declaration; liberal construction.
NRS 319.040 - "Administrator" defined.
NRS 319.042 - "Affordable housing" defined.
NRS 319.045 - "Collateralized mortgage obligation" defined.
NRS 319.050 - "Division" defined.
NRS 319.060 - "Eligible family" defined.
NRS 319.070 - "Governmental agency" defined.
NRS 319.090 - "Lending institution" defined.
NRS 319.100 - "Mortgage" defined.
NRS 319.110 - "Mortgage loan" defined.
NRS 319.115 - "Person with a disability" defined.
NRS 319.120 - "Real property" defined.
NRS 319.130 - "Residential housing" defined.
NRS 319.135 - "Sponsor" defined.
NRS 319.140 - General powers and duties of Division; audit; exemption from State Purchasing Act.
NRS 319.147 - Certification of assisted living facilities: Requirements; regulations.
NRS 319.170 - Funds and accounts; investments and deposits.
NRS 319.171 - Investment in collateralized mortgage obligations or trusts.
NRS 319.172 - Authority to make loans of investment securities.
NRS 319.190 - Authority to make loans and issue letters of credit.
NRS 319.200 - Terms and conditions of mortgage loan.
NRS 319.210 - Investment in mortgages.
NRS 319.220 - Mortgages in default: Foreclosure; modification of terms.
NRS 319.230 - Loans to or purchase of securities from lending institutions; collateral.
NRS 319.240 - Lending fees and charges.
NRS 319.260 - Prerequisites to financing residential housing.
NRS 319.270 - Notes and bonds: Issuance; limitation on outstanding obligations.
NRS 319.280 - Notes and bonds: Execution; terms; chapter 349 of NRS inapplicable.
NRS 319.290 - Notes and bonds: Pledges as security.
NRS 319.300 - Bonds: Trust indentures as security.
NRS 319.310 - Notes and bonds: Guarantees of payment.
NRS 319.320 - Notes and bonds: Redemption; remarketing or refunding.
NRS 319.330 - Refunding obligations: Issuance, sale and exchange.
NRS 319.340 - Bond reserve funds: Establishment; use; requirements.
NRS 319.350 - Bond reserve funds: Limitations.
NRS 319.360 - Bond reserve funds: Purpose; status reports.
NRS 319.370 - Remedies of bondholders and noteholders.
NRS 319.390 - Notes and bonds as legal investments.
NRS 319.420 - Termination: Notice; meeting; penalties; regulations.
NRS 319.500 - Creation; investment of money; claims.