Washington passed Senate Bill 5686 adding a foreclosure prevention fee and notice requirement under the Mortgage Broker Practices Act and Consumer Loan Act which had an effective date of July 27, 2025. The Department of Commerce issued guidance on a grace period regarding the implementation and collection of the Washington state foreclosure prevention fee.  The guidance allows for a grace period until August 17, 2025, to all entities responsible for the disclosure, payment, collection, and remittance of the new foreclosure prevention fee.

Click to view the WA Senate Bill 5686: https://www.tenaco.com/wp-content/uploads/2025/07/WA-SB-5686.pdf

Click to view the message from the Washington State Department: https://www.tenaco.com/wp-content/uploads/2025/07/WA-Correspondence.pdf