Bill > SB6018

This bill clarifies the role of the Washington State Housing Finance Commission (HFC) by stating it is not intended to function as a retail mortgage lender and should not compete with private financial institutions in originating residential mortgage loans for individual homebuyers, though it can streamline financing for multi-family and other non-owner-occupied housing. The bill amends existing laws to reflect this, including specifying that the HFC can make loans and mortgage loans but not for owner-occupied residential home purchases or refinancing, except for specific down payment assistance programs. It also removes outdated provisions related to housing finance programs and reporting requirements, and repeals sections of law that are no longer relevant to the commission's clarified functions. Additionally, the bill adjusts the frequency for selecting bond counsel from every two years to every four years, while allowing for longer retention on specific bond issues.

Budget and Finance, Housing and Urban Affairs

https://app.leg.wa.gov/billsummary?BillNumber=6018&Year=2025&Initiative=false