[WSBARP] [External Email] Dodd Frank

[Allen Sakai]

Nestor:

You'll need a DFI waiver.  Attached is a sample that you can change to fit your circumstances.  You will also need a disclosure statement to be signed by the borrower at closing.  I have attached something to get you started.  When you write the letter to DFI, send it to Ashley Sullivan at the DFI by e-mail at SFWaivers at dfi.wa.gov<mailto:SFWaivers at dfi.wa.gov>  You will get an e-mail waiver from DFI within maybe 1-2 days.

Good luck!

Allen R. Sakai
Attorney at Law
Jeppesen Gray Sakai P.S.
10655 N.E. 4th Street, Suite 801
Bellevue, WA 98004-5044

Phone: 425-454-2344, ext - 106
Fax:  425-646-8889
asakai at jgslaw.com<mailto:asakai at jgslaw.com>
www.jgslaw.com<http://www.jgslaw.com/>

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Nestor Gorfinkel
Sent: Tuesday, February 16, 2021 5:06 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [External Email][WSBARP] Dodd Frank

Father wants to lend son Money to buy a house and take back a deed of trust. What does he have to do to comply with Dodd Frank? How do we as attorneys protect ourselves from drafting the note and deed of trust.

Thanks.

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

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