{"data":{"id":"us-nv/nrs-598d.120","jurisdiction":"us-nv","citation":"NRS 598D.120","heading":"Repurchase of home loan by lender who sold home loan.","body":"1. If an action has been filed in a court of competent jurisdiction claiming an unfair lending practice in connection with a home loan, the lender who holds the home loan may sell the home loan and recover damages and costs as provided in this section if the lender did not:\n(a) Originate the home loan; and\n(b) Willfully engage in any unfair lending practice described in this chapter in connection with the home loan.\n2. The lender described in subsection 1 may require the person from whom the lender purchased the home loan described in subsection 1 to:\n(a) Repurchase the home loan for the amount the lender paid for the home loan; and\n(b) Pay to the lender all damages and reasonable costs incurred by the lender that are related to:\n(1) The purchase of the home loan by the lender from the person;\n(2) Any damages awarded in the action described in subsection 1;\n(3) Any costs related to the action described in subsection 1;\n(4) The repurchase of the home loan by the lender if the lender was required to repurchase the home loan from another lender pursuant to this section; and\n(5) The repurchase of the home loan from the lender by the person pursuant to this section.\n3. The person described in subsection 2:\n(a) Shall repurchase the home loan and pay the damages and costs as described in subsection 2; and\n(b) After repurchasing the home loan, may sell the home loan and recover damages and costs as provided in this section if he or she is a lender described in subsection 1.","path":["TITLE 52 — TRADE REGULATIONS AND PRACTICES","CHAPTER 598D - UNFAIR LENDING PRACTICES"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-598D.html#NRS598DSec120","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:43Z","sha256":"13696e3b49b7c03950d9a24ab6b5646bec76c309e9fca435417bffeb8763dc70","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-598d.110","next":"us-nv/nrs-598d.130"},"notice":"GroundRules: Original legal text. Not legal advice."}