RCW 19.144.050
Negative amortization—Limitation.
A financial institution may not make or facilitate a residential mortgage loan that includes any provisions that impose negative amortization and which are subject to the interagency guidance on nontraditional mortgage product risks and the statement on subprime mortgage lending.
[ 2008 c 108 § 6.]
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.