Washington § 19.146.095 - Fiduciary duties.

Full text of Washington Revised Code of Washington § 19.146.095 — Fiduciary duties., with citation guidance and answers to common questions.

§ 19.146.095. Fiduciary duties.

(1) A mortgage broker has a fiduciary relationship with the borrower. For the purposes of this section, the fiduciary duty means that the mortgage broker has the following duties:
(a) A mortgage broker must act in the borrower's best interest and in the utmost good faith toward the borrower, and shall disclose any and all interests to the borrower including, but not limited to, interests that may lie with the lender that are used to facilitate a borrower's request. A mortgage broker shall not accept, provide, or charge any undisclosed compensation or realize any undisclosed remuneration that inures to the benefit of the mortgage broker on an expenditure made for the borrower;
(b) A mortgage broker must carry out all lawful instructions provided by the borrower;
(c) A mortgage broker must disclose to the borrower all material facts of which the mortgage broker has knowledge that might reasonably affect the borrower's rights, interests, or ability to receive the borrower's intended benefit from the residential mortgage loan;
(d) A mortgage broker must use reasonable care in performing duties; and
(e) A mortgage broker must provide an accounting to the borrower for all money and property received from the borrower.
(2) A mortgage broker may contract for or collect a fee for services rendered if the fee is disclosed to the borrower in advance of the provision of those services.
(3) The fiduciary duty in this section does not require a mortgage broker to offer or obtain access to loan products and services other than those that are available to the mortgage broker at the time of the transaction.
(4) The director must adopt rules to implement this section.
[ 2008 c 109 s 1.]

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Frequently Asked Questions About Washington § 19.146.095

What does Revised Code of Washington § 19.146.095 cover?

Section 19.146.095 ("Fiduciary duties.") 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 § 19.146.095?

A common citation format is "Revised Code of Washington § 19.146.095" (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 § 19.146.095 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.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.