Washington § 31.04.297 - Third-party residential mortgage loan modification services providers — Duties — Restrictions.

Full text of Washington Revised Code of Washington § 31.04.297 — Third-party residential mortgage loan modification services providers — Duties — Restrictions., with citation guidance and answers to common questions.

§ 31.04.297. Third-party residential mortgage loan modification services providers — Duties — Restrictions.

(1) In addition to complying with federal law and all requirements for loan originators under this chapter, third-party residential mortgage loan modification services providers must:
(a) Provide a written disclosure summary as described in RCW 31.04.293;
(b) Not receive advance fees;
(c) Not charge total fees in excess of usual and customary charges, or total fees that are not reasonable in light of the service provided; and
(d) Immediately inform the borrower in writing if the owner of the loan requires additional information from the borrower, or if it becomes apparent that a residential mortgage loan modification is not possible.
(2) As a condition for providing a loan modification or loan modification services, third-party residential mortgage loan modification services providers and individuals servicing a residential mortgage loan must not require or encourage a borrower to:
(a) Sign a waiver of his or her legal defenses, counterclaims, and other legal rights against the servicer for future acts;
(b) Sign a waiver of his or her right to contest a future foreclosure;
(c) Waive his or her right to receive notice before the owner or servicer of the loan initiates foreclosure proceedings;
(d) Agree to pay charges not enumerated in any agreement between the borrower and the lender, servicer, or owner of the loan; or
(e) Cease communication with the lender, investor, or loan servicer.
(3) Failure to comply with subsection (1) of this section is a violation of RCW 19.144.080.
[ 2013 c 29 s 12; 2010 c 35 s 11.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 31.04.297

What does Revised Code of Washington § 31.04.297 cover?

Section 31.04.297 ("Third-party residential mortgage loan modification services providers — Duties — Restrictions.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 31.04.297?

A common citation format is "Revised Code of Washington § 31.04.297" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 31.04.297 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

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