Loan Originators News

News for Washington Mortgage Loan Originators.

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Documents and video recording from the October 22, 2015 mortgage industry webinar are now available.
The Division of Consumer Services proudly presents the Fall edition of our electronic newsletter, FYI Financial News.
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.
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.