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Financial Services Law Insights and Observations

Washington governor and Department of Financial Institutions announce measures to assist with mortgage delinquencies

State Issues Covid-19 Washington Mortgage Servicing

State Issues

On March 31, Washington Governor Jay Inslee along with the director of the Washington State Department of Financial Institutions announced measures to alleviate burdens for distressed homeowners. DFI’s guidelines advise mortgage servicers to cooperate with distressed homeowners, and specifically mentioned that servicers should consider payment forbearance agreements with delinquent owners.