Revised Code of Washington - RCW Title 19 Business Regulations -- Miscellaneous - Section 19.146.040 Written contract required -- Contract entered by loan originator binding on mortgage broker -- Written correspondent or loan broker agreement required

§ 19.146.040. Written contract required -- Contract entered by loan originator binding on mortgage broker -- Written correspondent or loan broker agreement required

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

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

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

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

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Last modified: April 7, 2009