Bill > HB2193

This bill increases the surcharge for recording deeds of trust from $1 to $5, which county auditors will collect when documents are recorded. The auditor can retain up to 5% of these funds for administrative costs, with the remaining funds transmitted monthly to the state treasurer and deposited into the mortgage lending fraud prosecution account. The Department of Financial Institutions will be responsible for distributing these funds, and will work with the attorney general and local prosecutors to develop rules for using the funds to pursue criminal prosecution of fraudulent activities in the mortgage lending process. The bill removes previous language that would have caused the surcharge and account to expire on June 30, 2027, effectively making these provisions permanent. The surcharge will continue to not apply to assignments or substitutions of previously recorded deeds of trust. The changes aim to provide more resources for investigating and prosecuting mortgage lending fraud by increasing the funding mechanism for such efforts.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2193&Year=2025&Initiative=false