RCW 19.144.040
Prepayment penalty or fee—Limitation.
A financial institution may not make or facilitate the origination of a residential mortgage loan that includes a prepayment penalty or fee that extends beyond sixty days prior to the initial reset period of an adjustable rate mortgage.
[ 2008 c 108 § 5.]
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.