Washington passed a bill requiring lenders and servicers to quarterly report to the Department of Commerce (Department) the number of Notices of Sale that have been recorded during the previous quarter. Under the bill, a lender or servicer on whose behalf a Notice of Sale has been recorded must quarterly: report to the Department the number of Notices of Sale that have been recorded for each residential real property during the previous quarter; pay a $250 fee to the Department for each Notice of Sale that has been recorded on residential real property; and report and update contact information for the person and work group responsible for ensuring compliance with the requirements of the Foreclosure Fairness Act. The bill also repeals the quarterly reporting and fee requirements with respect to Notices of Default issued for loans secured by owner-occupied residential real property. The bill becomes effective July 1, 2016.
See Washington State Legislature website for the full text of the Statutes:
http://lawfilesext.leg.wa.gov/biennium/2015-16/Pdf/Bills/House%20Passed%20Legislature/2876-S.PL.pdf
