Washington § 61.24.177 - Deed of trust pool — Duty of servicer to maximize net present value.

Full text of Washington Revised Code of Washington § 61.24.177 — Deed of trust pool — Duty of servicer to maximize net present value., with citation guidance and answers to common questions.

§ 61.24.177. Deed of trust pool — Duty of servicer to maximize net present value.

Any duty that servicers may have to maximize net present value under their pooling and servicing agreements is owed to all parties in a deed of trust pool, not to any particular parties, and a servicer acts in the best interests of all parties if it agrees to or implements a modification or workout plan when both of the following apply:
(1) The deed of trust is in payment default, or payment default is reasonably imminent; and
(2) Anticipated recovery under a modification or workout plan exceeds the anticipated recovery through foreclosure on a net present value basis.
[ 2011 c 58 s 13.]

Notes

Findings—Intent—Short title—2011 c 58: See notes following RCW 61.24.005.

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

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Frequently Asked Questions About Washington § 61.24.177

What does Revised Code of Washington § 61.24.177 cover?

Section 61.24.177 ("Deed of trust pool — Duty of servicer to maximize net present value.") 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 § 61.24.177?

A common citation format is "Revised Code of Washington § 61.24.177" (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 § 61.24.177 apply to my situation?

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Sources & Verification

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