Loan Originator Application FAQs
See below for DFI's answers to questions frequently asked about applying for a Loan Originator license.
How do I obtain a Loan Originator license in Washington?
Effective July 1, 2008, DFI joined the Nationwide Mortgage Licensing System (NMLS). All Loan Originator license applications must be submitted through the NMLS. An applicant must submit a Form MU4 and the company must submit a Sponsorship Request (if Loan Originator wants an active license) through the NMLS.
May I submit a Loan Originator Application in paper?
No. Use of the NMLS is mandatory for all Loan Originator applicants and licensees. If an applicant submitted an electronic application via DFI's online system prior to July 1, 2008 then he/she may submit the supporting documents in paper.
Must I submit other information in addition to the MU forms?
Yes. Please refer to the Washington instructions on the NMLS for a list of all additional items which must be mailed to DFI.
What is the application fee for a Loan Originator License?
The application fee for a new Loan Originator License is $155.00 which includes the NMLS processing fee.
Do I have to be signed up with a Mortgage Broker company in order to apply for a license?
No. You can simply submit a MU4 through the NMLS and then mail the Jurisdiction-Specific requirements to DFI. Once reviewed, you will be issued an inactive loan originator license.
What requirements must a Loan Originator meet?
To become a Loan Originator, the applicant must be 18 years old, have a high school diploma or equivalent "GED" (see WAC for alternatives to the high school diploma) and have passed the Washington Loan Originator Exam. There is no pre-licensing education required for Loan Originators.
Can I work for multiple Mortgage Brokers as a Loan Originator?
Yes. Loan Originators can work for multiple Mortgage Brokers as long as they are properly licensed to do so. The Loan Originator must submit the application to add the additional relationship, must work from a licensed location for both companies and DFI will notify both companies of the Loan Originator's multiple associations.
What is the average time it takes to process a new application?
DFI tries to review all incoming applications within two weeks of the date they are fully complete. If the application has any deficiencies which result in a rejection letter, the application is placed on hold until the deficient items are corrected. At that point, the application is complete and the two week period starts at that time.
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