Washington disclosure requirements

Within three business days of receiving a loan application, a mortgage broker or loan originator must provide a written disclosure itemizing all fees and costs, including APR, finance charge, amount financed, payment terms, points, and variable rate details. Additionally, if a lock-in agreement is entered, a written confirmation of its terms must be provided at least three business days thereafter. Fees exceeding the disclosed amount require a clear written explanation at least three business days before closing unless the total closing costs on the final settlement statement do not exceed the total in the most recent good faith estimate.