SB 6018 Washington Senate · 2025-2026 Regular Session

Concerning the housing finance commission.

This bill clarifies that Washington's Housing Finance Commission cannot make mortgage loans for owner-occupied single-family homes, except for down payment assistance programs. It ensures the Commission focuses on financing multifamily and nonowner-occupied housing while preserving private lenders' role in residential mortgage markets. The bill updates eligibility standards to consider income, family size, housing conditions, and energy efficiency for housing assistance programs. It also requires annual audits to verify bond funds support affordable housing and energy-efficient improvements as intended.

Issues: ✓ Housing

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 7, 2026 Last action Feb 26, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Bill → Substitute Bill · 5 edits

MODERATE

This bill amends the Housing Finance Commission chapter to explicitly prohibit the commission from acting as a retail mortgage lender for individual homebuyers. It clarifies that the commission's role is limited to financing multifamily and non-owner-occupied housing, removing its ability to originate loans for owner-occupied single-family homes or refinancing, except for specific down payment assistance programs.

Scope change

The bill narrows the scope of the Housing Finance Commission's lending authority, restricting it to non-owner-occupied housing and removing its direct lending role for individual owner-occupied residential purchases.

ELIGIBILITY

Added a new section explicitly stating the commission is not intended to function as a retail mortgage lender and cannot compete with private financial institutions.

Modified the commission's powers to remove the authority to make loans or deposits for owner-occupied residential home purchases or refinancing.

Added a specific prohibition preventing the commission from originating or making residential mortgage loans directly to natural persons for owner-occupied single-family housing.

REQUIREMENT

Modified the commission's authority to set loan standards to ensure they are consistent with the new restrictions on owner-occupied lending.

TECHNICAL

Updated bill metadata to reflect the substitute version, including new sponsorship attribution and revised reading dates.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 9, 2026

Upper · Passed

Minority; without recommendation.

upper

Feb 9, 2026

Upper · Passed

Minority; do not pass.

upper

Feb 9, 2026

Upper · Passed

WM - Majority; do pass 1st substitute bill proposed by Housing.

upper

Feb 9, 2026

Upper · Passed

Executive action taken in the Senate Committee on Ways & Means at 10:30 AM.

upper

Feb 2, 2026

Upper · Passed

Public hearing in the Senate Committee on Ways & Means at 4:00 PM.

upper

Jan 22, 2026

Committee

Referred to Ways & Means.

upper

Jan 21, 2026

Upper · Passed

Minority; do not pass.

upper

Jan 21, 2026

Committee

And refer to Ways & Means.

upper

Jan 21, 2026

Upper · Passed

Executive action taken in the Senate Committee on Housing at 10:30 AM.

upper

Jan 16, 2026

Upper · Passed

Public hearing in the Senate Committee on Housing at 10:30 AM.

upper

1 primary · 3 co-sponsors