RCW 19.144.040: Prepayment penalty or fee

RCWs > Title 19 > Chapter 19.144 > Section 19.144.040

These documents are currently being revised to incorporate the changes made during the 2024 Legislative Session. Please consult the Sections Affected Table for changes made during the 2024 Legislative Session.

19.144.030 << 19.144.040 >> 19.144.050

PDFRCW 19.144.040

Prepayment penalty or fee—Limitation.

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.]