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<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><o:p></o:p></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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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<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 <wsbarp@lists.wsbarppt.com><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>
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</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><o:p></o:p></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>
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<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
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.</span></b><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:24.0pt;font-family:Webdings;color:#009900">P</span></b><b><span style="font-size:24.0pt;color:#009900">
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