Washington State Mortgage Brokers
Mortgage Brokers doing business in Washington State must be licensed with DFI's Division of Consumer Services.
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| Licensing Examinations Laws, Rules, & Rulemaking | Forms Continuing Education Annual Report Commission Meetings Resources & FAQs |
What's New
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Surety Bond Requirements
Beginning January 1, 2010, the bond amounts required for Mortgage Broker and Consumer Loan licenses are changing. The bonding requirements will be determined annually by loan origination volume. Under the Mortgage Broker Practices Act (MBPA), the bonding amounts range from $30,000 to $60,000. Under the Consumer Loan Act (CLA), the bonding amounts range from $30,000 to $150,000. Learn more. -
Converting From A MBPA License To CLA License
Beginning January 1, 2010, non-delegated correspondent lenders licensed under the Mortgage Broker Practices Act (MBPA) must hold a Consumer Loan Act (CLA) license in order to make residential mortgage loans. To avoid potential business interruption and ensure timely licensure, DFI recommends that all MBPA licensees wishing to make residential mortgage loans apply for a CLA license no later than October 31, 2009.
Instructions On How To Convert From MBPA To CLA License -
Mortgage Disclosure Improvement Act Effective July 30, 2009
Notice from DFI. Regulation Z amendments implementing TILA changes are effective July 30, 2009. Many disclosures now apply to non-purchase transactions. Mortgage Brokers and Consumer Loan Companies are required to comply with the amendments by July 30, 2009.
Amendment Of Regulation Z Notice From DFI (PDF)* -
Requirements To Apply For A Loan Originator License Changing
With the passage of the federal SAFE Act, the requirements to apply for a Washington Loan Originator license will change. Learn more. - Loan Modifications - License Required
Companies and individuals providing loan modification services in Washington must be licensed as mortgage brokers, consumer loan companies, or loan originators. Upfront fees for services are prohibited. Learn more. - Loan Originators Working For
CUSOs Can License Via The NMLS
Residential mortgage loan originators working for Credit Union Service Organizations (CUSOs) can obtain a license via the NMLS. To sponsor their loan originators, CUSOs must register as exempt mortgage brokers on the NMLS. Please see DCU Bulletin B-09-01 for additional information about this federal licensing requirement.
Apply For A Loan Originator License
Register Your CUSO As An Exempt Mortgage Broker
Laws & Rules
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1 Page Disclosure Summary Forms
Washington law requires disclosure of certain material terms of residential mortgage loans. For more information, see WAC 208-600-200.
| Fixed Rate Loan Form | Variable Rate Loan Form |
| Form Instructions: Disclosure Summary Forms Instructions (PDF)* | |
Frequently Asked Questions (FAQs)
Answers from DFI to frequently asked questions.
Resources
Helpful resources for both industry and consumers.
| Industry | Consumers |
Mortgage News and Information Newsletters
Contact Us
Our office hours are 8 am - 5 pm PST. (Monday-Friday)
| Phone: | (360) 902-8703 | Toll Free: | 1-877 RING DFI (746-4334) |
| Fax: | (360) 664-2258 | Email: | dcs@dfi.wa.gov |
Mailing Address
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For U.S. Postal Service:
Department of Financial Institutions Division of Consumer Services PO Box 41200 Olympia WA 98504-1200 |
For Overnight Delivery:
Department of Financial Institutions Division of Consumer Services 150 Israel Rd SW Tumwater WA 98501 |
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