[Legislativecommittee1] SB5496 Home Buying by entities

[Craig Trummel]

All:

5496, attached, is a bill worth monitoring and providing input.  The bill's intent is to prohibit "excessive home buying by certain entities" and would provide for issuance of injunction for said excessive purchasing.  Additionally, it has broad language about civil penalties for "persons" who violate the injunction.  WLTA would want to make sure our members are not penalized for providing title and escrow services to a targeted entity.

I don't think we want to oppose, but we do want to make sure it does not negatively impact our industry.

This bill is scheduled for hearing on Feb 5, at 10:30 am in the Housing Committee of the Senate.

craig

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Craig Trummel
Regional Underwriter/Washington State Counsel
C: 206.580.8344   |  ctrummel at wfgtitle.com<mailto:ctrummel at wfgtitle.com> | www.wfgtitle.com<http://www.wfgtitle.com/>

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