Washington Statutes
§ 61.24.177 — Deed of trust pool—Duty of servicer to maximize net present value.
Washington § 61.24.177
JurisdictionWashington
Title 61MORTGAGES, DEEDS OF TRUST, AND REAL ESTATE CONTRACTS
Ch. 61.24DEEDS OF TRUST
This text of Washington § 61.24.177 (Deed of trust pool—Duty of servicer to maximize net present value.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wash. Rev. Code § 61.24.177 (2026).
Text
Any duty that servicers may have to maximize net present value under their pooling and servicing agreements is owed to all parties in a deed of trust pool, not to any particular parties, and a servicer acts in the best interests of all parties if it agrees to or implements a modification or workout plan when both of the following apply:
(1)The deed of trust is in payment default, or payment default is reasonably imminent; and
(2)Anticipated recovery under a modification or workout plan exceeds the anticipated recovery through foreclosure on a net present value basis.
Findings — Intent — Short title — 2011 c 58: See notes following RCW 61.24.005 .
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Related
§ 61.24.005
Washington § 61.24.005
Legislative History
[2011 c 58 s 13.]
Nearby Sections
15
§ 61.10.010
Definitions.§ 61.10.040
Not required when loan is less than eighty percent of value—Compliance with federal requirements.§ 61.10.901
Effective date—1998 c 255.§ 61.12.010
Encumbrances shall be by deed.§ 61.12.020
Mortgage—Form—Contents—Effect.§ 61.12.040
Foreclosure—Venue.§ 61.12.050
When remedy confined to mortgaged property.§ 61.12.080
Deficiency judgment—How enforced.§ 61.12.090
Execution on decree—Procedure.Cite This Page — Counsel Stack
Bluebook (online)
Washington § 61.24.177, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/61.24.177.