Loan Originators News

News for Washington Mortgage Loan Originators.

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The Mortgage Broker Practices Act, chapter 19.146, was amended during the recent legislative session by SSB 5299 (Chapter 229, Laws of 2015). DFI has filed a CR-101 to begin rulemaking to propose amendments to the rules to make changes consistent with the amended law, and to make technical and clarifying changes to the rules.
The Summer 2015 Consumer Services newsletter is now available.
A recording of the June 11, 2015 Mortgage Industry webinar is now available.
A video recording and documents from the March 4 mortgage industry webinar are now available.
An audio recording and documents from the October 30 mortgage industry webinar are now available.
Many people already know Microsoft has announced that on April 8, 2014, Windows XP will reach the end of its support lifecycle and will no longer be supported. The discontinuing of support means that Microsoft will no longer provide security patches, technical assistance or support for Windows XP. After April 8, 2014, Washington State Department of Financial Institutions (DFI) will consider all devices connected to the Internet running Windows XP a serious security risk. Devices include: PCs, Laptops, and Tablet PCs
The new National SAFE MLO Test Component with uniform state content was implemented April 1, which creates a single test that can meet both the national and state testing requirements of the SAFE Act. In 20 states, MLOs seeking licensure with their state regulatory agency will no longer be required to take a second, state-specific test component.
April 1 will bring an increase in Washington’s Pre-Licensing Education (PE) requirement for new MLOs. Applicants must complete 22 hours of PE with 4 hours covering Washington law.