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PDFWAC 208-620-567

What fees can I charge when servicing residential mortgage loans under the act?

(1) You may charge servicing fees authorized by the loan documents, by the act, or by the borrower. Examples include, but are not limited to, late fees as authorized by the loan documents, insufficient check fees as authorized by the loan documents or as allowed under WAC 208-620-560(2), and wire transfer fees for wire transfers requested by the borrower.
(2) You may only charge a fee for a default related service that is usual and customary or reasonable in light of the service provided.
(3) You may not charge a consumer for fees you paid to third parties in excess of the fee you paid to the third party.
[Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 18-16-024, § 208-620-567, filed 7/24/18, effective 9/1/18; WSR 13-24-024, § 208-620-567, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-567, filed 10/5/10, effective 11/5/10.]
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