E2SSB 5686 Washington State’s New Foreclosure Prevention Fee

On May 20th, Governor Ferguson signed E2SSB 5686 into legislation. One part of this, effective July 27, 2025, is the assessment of a foreclosure prevention fee of $80.00. This applies to all residential mortgage loans, as defined under RCW 31.04.015(24) except reverse mortgages. With the short period until the effective date, we have been anxiously waiting for the Department of … Read More

Quality Control Standards for Automated Valuation Models

Effective October 1, 2025, the Quality Control Standards for Automated Valuation Models requirements will go into effect. The rule, codified last August, doesn’t give a lot of guidance on what is required for the 5 objectives and states that “a flexible approach to implementing the quality control standards would allow the implementation of the standards to evolve along with AVM … Read More