Washington Code 19.144.040 – Prepayment penalty or fee — Limitation
Current as of: 2023 | Check for updates
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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.]
Terms Used In Washington Code 19.144.040
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.