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Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.04.515. Fairness in lending act--Sound underwriting practices not precluded

Current as of January 01, 2025 | Updated by Findlaw Staff

Nothing contained in RCW 30A.04.505 through [and] 30A.04.510 shall preclude a financial institution from considering sound underwriting practices in processing any application for a loan to any person. Such practices shall include the following:

(1) The willingness and the financial ability of the borrower to repay the loan.

(2) The market value of any real estate and of any other item of property proposed as security for any loan.

(3) Diversification of the financial institution's investment portfolio.

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Cite this article: FindLaw.com - Washington Revised Code Title 30A. Washington Commercial Bank Act § 30A.04.515. Fairness in lending act--Sound underwriting practices not precluded - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-30a-washington-commercial-bank-act/wa-rev-code-30a-04-515/

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