[WSBARP] Dept of Treasury memo Financial Services sector

[marc holmeslawgroup.com]

For what it's worth, the NWMLS just this morning sent out a memo stating the following:

Real estate brokerage services are not on the list of essential services.  Real estate firms must close their offices to comply with the order.  Certain workers in the "Financial Services Sector" have been deemed essential workers.  This includes workers who are needed to process and maintain systems for processing financing transactions and services and insurance companies including mortgage lenders, escrow and title insurers.

Because the Financial Services Sector is considered essential, real estate transactions that are under contract may be able to proceed to closing (it is likely that lenders, title, and escrow will continue to operate).  Of course, there could be delays, which is why the parties should use the new Force Majeure and Closing Addendum (Form 22FM), published by NWMLS last week.  You should refer your clients to an attorney if they have any questions regarding their legal rights and responsibilities related to the purchase and sale agreement.



Marc Holmes, JD
Holmes Law Group PLLC
2303 W. Commodore Way, Suite 306
Seattle, WA 98199
marc at holmeslawgroup.com<mailto:marc at holmeslawgroup.com>
(206) 357-4224 (ofc)
(206) 849-0853 (cell)

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of nestor at pplsweb.com
Sent: Tuesday, March 24, 2020 12:54 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Dept of Treasury memo Financial Services sector

>From financial services page:

"...providers of the critical financial utilities and services that support these functions".

I was advised that one title underwriter interpreted that memo to include escrow and title services. If somehow one's practice  provides a service related thereto including banking, etc. this could fall under this.

I leave this to everyone's interpretation. Just forwarding information. Stay safe.


Nestor Gorfinkel, Attorney at Law
Licensed in Washington & Florida
Florida Civil-Law (International) Notary

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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of scott at scottgthomaslaw.com<mailto:scott at scottgthomaslaw.com>
Sent: Tuesday, March 24, 2020 10:26 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] Dept of Treasury memo Financial Services sector

I don't read that memo in the same way.  Here is what Gov. Inslee has said:  https://coronavirus.wa.gov/sites/default/files/2020-03/EssentialCriticalInfrastructureWorkers.pdf<https://urldefense.proofpoint.com/v2/url?u=https-3A__coronavirus.wa.gov_sites_default_files_2020-2D03_EssentialCriticalInfrastructureWorkers.pdf&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=99mcggAkYERy1-yzGtdxttxOROFWIbbsscjWo0sEDhE&m=xeLr_jsvXMhyLsdT2jMQocgIGg230VLdOcK3qJjakEE&s=UufStY-R6MWTFeQgDX75AGiPT2qHdCya581zrOciUtE&e=>

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of nestor at pplsweb.com<mailto:nestor at pplsweb.com>
Sent: Tuesday, March 24, 2020 9:19 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: [WSBARP] Dept of Treasury memo Financial Services sector


I just received this.

Nestor Gorfinkel, Attorney at Law
Licensed in Washington & Florida
Florida Civil-Law (International) Notary

ATTENTION - This e-mail message and any attachment to this e-mail message may contain confidential information that is legally privileged. If you are not the intended recipient, you must not review, retransmit, convert to hard copy, copy, use or disseminate this e-mail or any attachments to it. If you have received this e-mail in error, please notify us immediately by return e-mail or by telephone at the phone numbers provided herein and delete this message. Please note that if this e-mail message contains a forwarded message or is a reply to a prior message, some or all of the contents of this message or any attachments may not have been produced by the sender.

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