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What's New: Government Affairs

SFAA Objects to Proposal to Make Mortgage Servicer Bond Optional in Washington

Wednesday, October 19, 2016  
  SFAA Objects to Proposal to Make Mortgage Servicer Bond Optional in Washington 

SFAA submitted comments to the Washington Department of Financial Institutions to object to its proposed revisions to the bond requirements for consumer loan licensee regulations that would make the bond requirement optional for entities that only service loans. The servicer would be permitted to either post a bond or meet proposed net worth requirement. We explained the benefits of the bond and urged that it be maintained as a requirement.

Members should visit Government Relations / General Info (Members) for more information.



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