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Legal Updates

Nevada Enacts Law to Clarify the Use of Broker Price Opinions

Thursday, June 18th, 2009

Nevada Senate Bill 184, signed into law May 29 by Gov. Jim Gibbons, specifically prohibits the performance and use of a broker price opinion “in lieu of an appraisal for the purpose of determining whether to approve a mortgage loan.” It clarifies that BPOs may continue to be used for the listing or purchase of [...]