Washington § 61.10.010 - Definitions.

Full text of Washington Revised Code of Washington § 61.10.010 — Definitions., with citation guidance and answers to common questions.

§ 61.10.010. Definitions.

As used in this chapter:
(1) "Institutional third party" means the federal national mortgage association, the federal home loan mortgage corporation, the government national mortgage association, and other substantially similar institutions, whether public or private, provided the institutions establish and adhere to rules applicable to the right of cancellation of mortgage insurance, which are the same or substantially the same as those utilized by the institutions named in this subsection.
(2) "Mortgage insurance" means insurance, including mortgage guarantee insurance, against financial loss by reason of nonpayment of principal, interest, and other sums agreed to be paid in a residential mortgage transaction.
(3) "Residential mortgage transaction" means entering into a loan for personal, family, household, or purchase money purposes that is secured by a deed of trust or mortgage on owner-occupied, one-to-four unit, residential real property located in the state of Washington.
[ 1998 c 255 s 1.]

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Frequently Asked Questions About Washington § 61.10.010

What does Revised Code of Washington § 61.10.010 cover?

Section 61.10.010 ("Definitions.") 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 § 61.10.010?

A common citation format is "Revised Code of Washington § 61.10.010" (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?

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