WA HB2268

Mortgage loan servicers must pay borrowers at least 2% simple interest annually on funds held in escrow accounts for property taxes and insurance, effective January 1, 2027

Applies to residential mortgage loans secured by properties of one to four units located in Washington state

Prohibits servicers from imposing fees or charges on escrow account maintenance or disbursement that would reduce the effective interest rate below 2%

Requirements apply only to residential mortgage loans executed on or after January 1, 2027

Creates a new chapter in Title 61 RCW (real property and conveyances) to establish these escrow account regulations