Summary

Document Cited in Related
JurisdictionWashington

Chapter Details

Summary


§24.1 Introduction
§24.2 Licensing
(1) Commercial Loans
(2) Residential Loans
(a) Mortgage Broker Practices Act
(b) Consumer Loan Act
§24.3 Usury
(1) Washington Law
(a) Who May Assert Usury?
(i) Borrower
(ii) Guarantor
(iii) Subsequent Purchaser of Collateral or Junior lienholder
(iv) In-State Borrower/Out-of-State Lender
(v) In-State Collateral/Out-of-State Borrower and lender
(b) Permissible Interest Rates
(i) Fixed-Rate Loans
(ii) Variable-Rate Loans
(iii) Revolving Lines of Credit
(iv) When Rate is Computed
(c) Treatment of Loan Fees and Other Charges
(i) Loan Fees
(ii) Mortgage Broker Fees
(iii) Pass-Through Charges
(iv) Late Charges and Default Interest
(v) Prepayment Premiums
(d) Presumptions and Rules of Construction
(i) The "Two Hypotheses" Rule
(ii) Usury Determined at Inception
(iii) Burden of Proof
(iv) Interest Rate vs. APR
(e) State Law Exemptions From Usury
...

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