NAC645E.337. Proof of adverse change in financial condition.

Latest version.

For the purposes of paragraph (b) of subsection 4 of NRS 645E.300, an adverse change in financial condition:

1. Is not proven solely by a decrease in income from any previous period if the mortgage banker remains profitable; and

2. May be shown by material receivables or payables to related parties, material off-balance sheet commitments, contingent liabilities or other identified concerns related to the deterioration of net worth or liquidity.

(Added to NAC by Comm’r of Mortgage Lending by R038-10, eff. 7-22-2010)

                    
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