(1) No person may make secured or unsecured loans of money or things in action, or extend credit, or service or modify the terms or conditions of residential mortgage loans, without first obtaining and maintaining a license in accordance with this chapter, except those exempt under RCW 31.04.025
(2) If a transaction violates subsection (1) of this section, any:
(a) Nonthird-party fees charged in connection with the origination of the residential mortgage loan must be refunded to the borrower, excluding interest charges; and
(b) Fees or interest charged in the making of a nonresidential loan must be refunded to the borrower.
Findings—Declaration—2009 c 120:
See note following RCW 31.04.015
Severability—2008 c 78:
See note following RCW 31.04.025