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Can you summarize WAAC 208-620-612?
Washington Consumer Loan Act. > What must I do to comply with the federal guidelines on nontraditional mortgage loan product risks and statement on subprime lending?
Short Summary
You must adopt written policies and procedures implementing the federal guidelines. The policies and procedures must be maintained as a part of your books and records and must be made available to the department upon request. [Statutory Authority: RCW 43.320.040, 19.144.070, 2008 c 78. WSR 09-01-159, 208-620-612, filed 12/23/08, effective 1/23/09.]
Jurisdiction
Washington