Washington Governor Gregoire signs two bills designed to protect consumers

Olympia – The Washington State Department of Financial Institutions is pleased to announce the signing of two requested bills offering stronger protection for consumers and establishing guidelines for more sound business practices: HB 2608 regarding Loan Servicers and Loan Modifications and ESHB 2564 regarding Escrow Agents.

“We proposed the loan servicer bill because we received so many complaints from Washington homeowners who lost their dreams — their homes — to questionable third party loan servicing practices,” Deborah Bortner, DFI Director of Consumer Services said.

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