Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)Chapter 208-620 - Washington Consumer Loan Act
RESTRICTIONS, PROHIBITIONS AND GROUNDS FOR REVOCATION
Section 208-620-565 - What fees am I allowed to charge or receive when acting as a residential mortgage loan broker under the act?

Wash. Admin. Code § 208-620-565

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Current through Register Vol. 24-12, June 15, 2024
Section 208-620-565 - What fees am I allowed to charge or receive when acting as a residential mortgage loan broker under the act?
(1) A broker's fee not to exceed four percent of the first twenty thousand dollars and two percent thereafter of the principal amount of the loan advanced to or for the direct benefit of the borrower, which fee may be included in the principal balance of the loan.
(2) A processing fee when paid to an independent third-party processor.

Wash. Admin. Code § 208-620-565

Amended by WSR 13-24-024, filed 11/22/13, effective 1/1/2014

Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. 10-20-122, § 208-620-565, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. 09-24-090, § 208-620-565, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 19.144.070, 2008 c 78. 09-01-159, § 208-620-565, filed 12/23/08, effective 1/23/09.