Revisions to Washington State Disclosure Summary

I just came across revised Washington State Disclosure Summary forms online dated 11/5/10. Does anyone know when are we required to begin using the revised form? I'm not aware of any recent announcements.

Please post a link - I was not able to locate anything other than the original 2008 ruling and revisions.

http://www.dfi.wa.gov/resources/pdf/11-05-10-disclosure-summary-fixed-rate.pdf

http://www.dfi.wa.gov/resources/pdf/11-05-10-disclosure-summary-variable-rate.pdf

There is no requirement to use the revised form. It was updated to be more in line with the GFE disclosure and it is at the institutions option as to whether they use the current disclosure or revised disclosure

We started using the 11/2010 revisions and then our system reverted back to the 2008 form. I am trying to get to the bottom of this issue to figure out how to correct it and when I went to DFI's website, it appears that they have pulled the 11/2010 form for revisions and only have the 2008 form available. Anyone else dealing with this issue? It's rather frustrating!

AT the WBA Compliance Conference last October, the General Counsel of the DFI mentioned that he expected the requirement of this form would be repealed this year. As long as the standard RESPA disclosures are provided.

But the State did ask for it when they did our S&S exam last year.

Good to know! Thank you for the information! I didn't make it to the WBA Conference in 2011, so hadn't heard that. I'll keep my eye out for changes to that requirement.

I just saw a memo from the State that this disclosure will no longer be required, effective June 7th.

Can you provide a link to that memo?

Here's a link that was posted to the credit unions' site:
http://dfi.wa.gov/cu/bulletins/2012/b-12-02.pdf

Is this effective for banks also or just credit unions?

This would apply to banks as well. The rule impacting anyone extending a residential mortgage loan in the state.