Written contract required—Contract entered by loan originator binding on mortgage broker—Written loan broker agreement required.

  1. Law
  2. Revised Code of Washington
  3. Business Regulations—Miscellaneous
  4. Mortgage Broker Practices Act.
  5. Written contract required—Contract entered by loan originator binding on mortgage broker—Written loan broker agreement required.

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(1) Every contract between a mortgage broker, or a loan originator, and a borrower must be in writing and contain the entire agreement of the parties.

(2) Any contract under this section entered by a loan originator is binding on the mortgage broker.

(3) A mortgage broker must have a written loan broker agreement with a lender before any solicitation of, or contracting with, the public.

[ 2015 c 229 § 9; 2006 c 19 § 6; 1994 c 33 § 19; 1987 c 391 § 6.]


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