RCW 19.146.355
268 words·~1 min read·
/wa/title-19/chapter-19-146/19-146-355·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)In addition to complying with all requirements for loan originators under this chapter, third-party residential mortgage loan modification services providers must:
(a)Provide a written fee disclosure summary as described in RCW 19.146.353 before accepting any advance fee;
(b)Not receive an advance fee greater than seven hundred fifty dollars;
(c)Not charge total fees in excess of usual and customary charges, or total fees that are not reasonable in light of the service provided; and
(d)Immediately inform the borrower in writing if the owner of the loan requires additional information from the borrower, or if it becomes apparent that a residential mortgage loan modification is not possible.
(2)As a condition for providing a loan modification or loan modification services, third-party residential mortgage loan modification services providers and individuals servicing a residential mortgage loan must not require or encourage a borrower to:
(a)Sign a waiver of his or her legal defenses, counterclaims, and other legal rights against the servicer for future acts;
(b)Sign a waiver of his or her right to contest a future foreclosure;
(c)Waive his or her right to receive notice before the owner or servicer of the loan initiates foreclosure proceedings;
(d)Agree to pay charges not enumerated in any agreement between the borrower and the lender, servicer, or owner of the loan; or
(e)Cease communication with the lender, investor, or loan servicer.
(3)Failure to comply with subsection
(1)of this section is a violation of RCW 19.144.080 .
[ 2010 c 35 s 17 .]
Notes:
Effective date — 2010 c 35: See RCW 31.04.904 .