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<p class="MsoNormal"><span style="font-size:12.0pt;color:blue">I believe father would be exempt under 31/04/224(3)<o:p></o:p></span></p>
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<b><span style="font-size:13.5pt;font-family:"Helvetica",sans-serif;color:black">RCW <a href="http://app.leg.wa.gov/RCW/default.aspx?cite=31.04.224"><span style="color:#2B674D">31.04.224</span></a><o:p></o:p></span></b></p>
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<b><span style="font-size:13.5pt;font-family:"Helvetica",sans-serif;color:black">Licensing exemptions</span></b><b><span style="font-size:13.5pt;font-family:"Times New Roman",serif;color:black">—</span></b><b><span style="font-size:13.5pt;font-family:"Helvetica",sans-serif;color:black">Residential
mortgage loans.<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-indent:.5in;background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black">The following are exempt from licensing as mortgage loan originators under this chapter:<o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in;background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black">(1) Registered mortgage loan originators, or any individual required to be registered while actively employed by a covered
financial institution as defined in regulation G, 12 C.F.R. Part 1007.102;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in;background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black">(2) An attorney licensed in Washington who negotiates the terms of a residential mortgage loan on behalf of a client
as an ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of a lender, mortgage broker, or other mortgage loan originator;<o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in;background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black;background:yellow;mso-highlight:yellow">(3) Any individual who offers or negotiates terms of a residential mortgage loan
with or on behalf of an immediate family member; or</span><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-indent:.5in;background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black">(4) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as
the individual's residence.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-size:12.0pt;font-family:"Helvetica",sans-serif;color:black">[ <a href="http://lawfilesext.leg.wa.gov/biennium/2015-16/Pdf/Bills/Session%20Laws/Senate/5299-S.SL.pdf?cite=2015%20c%20229%20%C2%A7%2032"><b><span style="color:#2B674D">2015
c 229 § 32</span></b></a>; <a href="http://lawfilesext.leg.wa.gov/biennium/2011-12/Pdf/Bills/Session%20Laws/House/2255-S.SL.pdf?cite=2012%20c%2017%20%C2%A7%206"><b><span style="color:#2B674D">2012 c 17 § 6</span></b></a>; <a href="http://lawfilesext.leg.wa.gov/biennium/2009-10/Pdf/Bills/Session%20Laws/House/1621-S.SL.pdf?cite=2009%20c%20120%20%C2%A7%2011"><b><span style="color:#2B674D">2009
c 120 § 11</span></b></a>.]<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
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<p class="MsoNormal"><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne</span></i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne J.</span></i></b><b><i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
</span></i></b><b><i><span style="font-size:18.0pt;font-family:"Bella Donna";color:blue">Dawes<o:p></o:p></span></i></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Attorney at Law</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Gore & Grewe, P.S.</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">103 E. Indiana Avenue, Suite A</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Spokane, WA 99207-2317</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Voice: 509-326-7500</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Fax: 509-326-7503</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><a href="mailto:jjdawes@goregrewe.com"><span style="color:blue">jjdawes@goregrewe.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:blue"><img border="0" width="172" height="111" style="width:1.7916in;height:1.1562in" id="Picture_x0020_3" src="cid:image003.png@01D7045A.69642EE0"><img border="0" width="123" height="127" style="width:1.2812in;height:1.3229in" id="Picture_x0020_4" src="cid:image004.png@01D7045A.69642EE0"></span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">INFORMATION CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND CONFIDENTIAL. </span><span style="color:blue">
</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:blue"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <b>On Behalf Of
</b>Allen Sakai<br>
<b>Sent:</b> Tuesday, February 16, 2021 11:06 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] [External Email]Re: [External Email] Dodd Frank<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#44546A">Roger:</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A">I went to a CLE years ago which mentioned this so I just always got these. So I never focused on the penalties. Just looking at the statute, RCW 31.04.027, .035, .175 and .208 mention violations and penalties.
Looks like it could be a gross misdemeanor and a CPA violation. </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A">I cannot speak to enforcement. That is, I have no idea how diligently the DFI monitors this. Just my opinion, that it would seem pretty difficult to check on private loans this unless someone complains. Of
course the most likely situation is that the borrower would likely complain at the point that the lender starts to foreclose.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#44546A"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#44546A">Bryce, I forgot to mention the WAC. Thanks.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><i><span style="font-size:16.0pt;font-family:"Brush Script MT";color:red">Allen R. Sakai</span></i></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Attorney at Law</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Jeppesen Gray Sakai P.S.</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">10655 N.E. 4th Street, Suite 801</span></b><span style="color:#44546A"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Bellevue, WA 98004-5044</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Phone: 425-454-2344, ext - 106</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Fax: 425-646-8889</span></b><o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:asakai@jgslaw.com" title="blocked::mailto:asakai@jgslaw.com"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">asakai@jgslaw.com</span></b></a><o:p></o:p></p>
<p class="MsoNormal"><a href="http://www.jgslaw.com/" target="_BLANK" title="blocked::http://www.jgslaw.com/"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">www.jgslaw.com</span></b></a><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">This communication is intended for the sole use of the individual and entity to whom it is addressed, and may contain information that is privileged, confidential
and exempt from disclosure under applicable law. You are hereby notified that any dissemination, distribution or duplication of this communication by someone other than the intended addressee or its designated agent is strictly prohibited. If you have received
this communication in error, please notify this firm immediately by collect call to (425)-454-2344, or by reply to this communication.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Roger Hawkes<br>
<b>Sent:</b> Tuesday, February 16, 2021 10:33 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [External Email]Re: [WSBARP] [External Email] Dodd Frank<o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">Allen: assume that all the loan facts are true, what is the consequence of not getting a waiver? Of not seeking a waiver?<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Allen Sakai<br>
<b>Sent:</b> Tuesday, February 16, 2021 9:47 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] [External Email] Dodd Frank<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A">Nestor:</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A">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
</span><a href="mailto:SFWaivers@dfi.wa.gov">SFWaivers@dfi.wa.gov</a><span style="color:#44546A"> You will get an e-mail waiver from DFI within maybe 1-2 days.
</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A">Good luck! </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><i><span style="font-size:16.0pt;font-family:"Brush Script MT";color:red">Allen R. Sakai</span></i></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Attorney at Law</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Jeppesen Gray Sakai P.S.</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">10655 N.E. 4th Street, Suite 801</span></b><span style="color:#44546A"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Bellevue, WA 98004-5044</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Phone: 425-454-2344, ext - 106</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Fax: 425-646-8889</span></b><o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:asakai@jgslaw.com" title="blocked::mailto:asakai@jgslaw.com"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">asakai@jgslaw.com</span></b></a><o:p></o:p></p>
<p class="MsoNormal"><a href="http://www.jgslaw.com/" target="_BLANK" title="blocked::http://www.jgslaw.com/"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">www.jgslaw.com</span></b></a><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">This communication is intended for the sole use of the individual and entity to whom it is addressed, and may contain information that is privileged, confidential
and exempt from disclosure under applicable law. You are hereby notified that any dissemination, distribution or duplication of this communication by someone other than the intended addressee or its designated agent is strictly prohibited. If you have received
this communication in error, please notify this firm immediately by collect call to (425)-454-2344, or by reply to this communication.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#44546A"> </span><o:p></o:p></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Nestor Gorfinkel<br>
<b>Sent:</b> Tuesday, February 16, 2021 5:06 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [External Email][WSBARP] Dodd Frank<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">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.<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">Thanks.<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><span style="color:black">Nestor Gorfinkel, Attorney at Law</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:black">Licensed in Florida & Washington</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:black">Florida Civil-Law (International) Notary</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:black"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;color:black">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
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