RCW 19.144.030
Interagency guidance on nontraditional mortgage product risks and the statement on subprime mortgage lending.
(1) The department shall apply the interagency guidance on nontraditional mortgage product risks and the statement on subprime mortgage lending to financial institutions.
(2)(a) Financial institutions subject to this chapter shall adopt and adhere to internal policies and procedures that are reasonably intended to achieve the objectives set forth in the interagency guidance on nontraditional mortgage product risks and the statement on subprime mortgage lending.
(b) The department shall adopt rules as required to implement this section.
[ 2008 c 108 § 4.]
Structure Revised Code of Washington
Title 19 - Business Regulations—Miscellaneous
Chapter 19.144 - Mortgage Lending and Homeownership.
19.144.005 - Findings—2008 c 108.
19.144.020 - Disclosure requirements—Department duties.
19.144.040 - Prepayment penalty or fee—Limitation.
19.144.050 - Negative amortization—Limitation.
19.144.060 - Risk grade determination.
19.144.070 - Rule-making authority.
19.144.080 - Unlawful actions—Fraud, misrepresentation, deceptive practices.
19.144.100 - Unlawful actions—Proceeds and interest in real property—Criminal penalties.