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Chapter 208-620 WAC

Last Update: 11/22/13

WASHINGTON CONSUMER LOAN ACT

WAC Sections

Definitions.
How does the department interpret certain definitions in RCW 31.04.015(28)?
EXEMPTION FROM LICENSING
Who is exempt from licensing as a consumer loan company?
Who is exempt from licensing as a mortgage loan originator under this act?
COMPANY LICENSING
Do I need a consumer loan license to lend money, extend credit or service or modify the terms of residential mortgage loans?
Which companies must have a consumer loan license to service residential mortgage loans secured by Washington residential real estate or obligating Washington residents?
Can I make a small number of residential mortgage loans without being licensed at the company level?
Must a company that provides loan processing or underwriting services on residential mortgage loans be licensed under the Consumer Loan Act?
When making loans, is there a maximum rate of interest allowed under the act?
Once I am licensed, does the act apply to all loans I make?
If my out-of-state company applies for a license under the Consumer Loan Act do we have to have a branch in the state of Washington?
Are there any additional requirements for out-of-state licensees?
If I am licensed under the Consumer Loan Act, can I broker residential mortgage loans in the state of Washington?
Do I need a license to assist a borrower with a residential mortgage loan modification?
How do I apply for a consumer loan license?
What will happen if my license application is incomplete?
How do I withdraw my application for a license?
What are my rights if the director denies my application for a license?
What fees must I pay for my application for a consumer loan license?
If I want to operate my business from more than one office, do I have to license each location?
If I make residential mortgage loans and employ managers, must they license individually as mortgage loan originators?
Is it necessary to license an office that is only providing underwriting and other back-office services?
What is the amount of the bond required for my consumer loan license?
What will my bond amount be in the first year of licensing?
How often will my bond amount change?
How often must I report my loan origination and residential mortgage loan servicing volume?
Does the surety bond need to reflect coverage for licensee and its W-2 employees and independent contractors?
Do I have any alternative to maintaining a surety bond?
If I originate residential mortgage loans and my company relies on the bond substitute, must my licensed mortgage loan originators obtain an individual bond?
If I qualify to use a bond substitute in lieu of a surety bond, what documentation do I have to provide to the department?
What if I use a bond substitute and my unimpaired capital falls below the minimum?
What are the grounds for denying or conditioning my consumer loan company license application?
May I employ someone to work with Washington residents or Washington property who has been convicted of a felony, or who has had a lending-related license revoked or suspended?
Am I responsible for the actions of my employees and independent contractors?
What happens to residential mortgage loans in the pipeline if a mortgage loan originator leaves my company?
What action must I take in the NMLS if I fire a residential mortgage loan originator or if a residential mortgage loan originator quits?
Knowledge of the law and rules.
Can I share an office with another business?
May I transact my company business in a name other than the name on my company license?
May I transfer or assign my license?
LICENSEE REPORT REQUIREMENTS
What are my annual filing requirements as a consumer loan licensee?
What are my quarterly call report filing requirements if I make, broker, or service residential mortgage loans?
How do I calculate my annual assessment for activity in Washington?
Must I file my annual reports even if I go out of business during the year?
What are my reporting responsibilities if my company files for bankruptcy?
What are my reporting responsibilities when something of significance happens to my business?
What are my reporting requirements if I want to close my company or surrender my license?
What are my reporting requirements if I want to close one or more of my branch offices?
DISCLOSURE AND OTHER OBLIGATIONS
In addition to the Consumer Loan Act, what other laws do I have to comply with?
Must my underwriting analysis of a borrower's residential mortgage loan application include a determination of the borrower's ability to repay the loan?
What elements of an ability to repay analysis must be part of my underwriting policy of a conventional residential mortgage loan?
What are my disclosure obligations to consumers?
What is the disclosure required under RCW 19.144.020 for residential mortgage loans?
In a residential mortgage loan transaction, what are my disclosure obligations to the company that brokered the loan to me?
POWERS AND RESTRICTIONS
What authority do I have as a licensee?
RECORDKEEPING
How long must I maintain my records under the Consumer Loan Act?
Can I maintain my records electronically?
Must I have a records disaster recovery and information security plan?
Do I need to account separately for payments from borrowers for third-party service providers?
Must I provide a written agreement when I provide third-party residential mortgage loan modification services?
RESTRICTIONS, PROHIBITIONS AND GROUNDS FOR REVOCATION
What business practices are prohibited?
Residential mortgage loan servicers—What business practices are prohibited?
Third-party residential loan modification service providers—What business practices are prohibited?
What fees are allowed and when can they be collected from the borrower under the Consumer Loan Act?
What fees must I refund to the borrower if I provide services subject to the act but do not have a license?
What fees are not allowed when making loans under the Consumer Loan Act?
What fees can I collect on VA loans?
What fees am I allowed to charge or receive when acting as a residential mortgage loan broker under the act?
What fees am I not allowed to charge or receive when brokering residential mortgage loans under the act?
What fees can I charge when servicing residential mortgage loans under the act?
What fees am I not allowed to charge when providing third-party residential mortgage loan modification services under the act?
What are the grounds for suspending or revoking a consumer loan company license?
EXAMINATIONS
As a licensee, will my business be subject to periodic examinations?
How much will I be charged for my periodic examinations and when will the payment be due?
How often will the department visit my business to examine my records?
What assistance may the department seek in conducting an investigation or examination of my business?
INVESTIGATIONS
What authority does the department have to investigate violations of the Consumer Loan Act?
What federal guidance has the director adopted for use by the department in determining if a violation under RCW 31.04.027 has occurred?
What must I do to comply with the federal guidelines on nontraditional mortgage loan product risks and statement on subprime lending?
When I develop policies and procedures to implement the federal guidelines on applicable conventional residential mortgage loans, what topics must be included?
What Washington law protects my rights when my license is suspended or revoked?
Application of the Administrative Procedure Act.
ADVERTISING RESTRICTIONS
How do I have to identify my business when I advertise?
May I advertise over the internet using a URL address that is not my licensed business name?
When I advertise using the internet or any electronic form (including, but not limited to, text messages), is there specific content my web pages must contain?
What are some of the advertising restrictions I must comply with?
What are some of the federal laws I must comply with when I advertise any loan subject to the Consumer Loan Act?
MISCELLANEOUS
Will the director waive fees charged under the Consumer Loan Act?
MORTGAGE LOAN ORIGINATOR LICENSING
Mortgage loan originator—General.
Mortgage loan originator—Licensing.
Loan originator—Prelicensing education.
Mortgage loan originator—Testing.
Loan originator—Continuing education.
PROPRIETARY REVERSE MORTGAGE PRODUCTS
What definitions are applicable to this section?
Does this part (WAC 208-620-800 through 208-620-850) apply to the FHA approved home equity conversion mortgage (HECM) product?
What requirements must I meet before offering or making proprietary reverse mortgages to Washington residents?
What specific loan terms and conditions are allowed or required in the proprietary reverse mortgages I make to Washington residents?
What reverse mortgage program information must I submit to the director for approval before offering or making proprietary reverse mortgages?
What disclosures or statements must I provide to a borrower in a reverse mortgage transaction?
Under what circumstances will the department determine that the making of a reverse mortgage was unsuitable for a particular borrower and therefore an unfair and deceptive practice in violation of RCW 31.04.027?
What is the process I must follow to obtain the department's approval of my proprietary reverse mortgage product?
RESIDENTIAL MORTGAGE LOAN SERVICING REQUIREMENTS
What requirements must I comply with when servicing residential mortgage loans?
DISPOSITION OF SECTIONS FORMERLY CODIFIED IN THIS CHAPTER
208-620-020
License application. [Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 99-22-047, § 208-620-020, filed 10/29/99, effective 11/29/99. Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-020, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-030
Surety bond. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-030, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-040
Bond substitute in lieu of surety bond. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-040, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-045
How does the department interpret the definition of residential mortgage loan modification services in RCW 31.04.015(23)? [Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 12-18-047, § 208-620-045, filed 8/29/12, effective 11/1/12.] Repealed by WSR 13-24-024, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-050
Interstate operations. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-050, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-055
How does the department interpret the definition of service or servicing a loan in RCW 31.04.015(26)? [Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 12-18-047, § 208-620-055, filed 8/29/12, effective 11/1/12.] Repealed by WSR 13-24-024, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-060
Registered agent and agent's office for out-of-state licensees. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-060, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-070
Change of registered agent or agent's office for out-of-state licensees. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-070, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-080
Resignation of registered agent. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-080, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-090
Service on out-of-state licensee. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-090, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-100
Records. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-100, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-100, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-110
The note. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-110, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-110, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-120
Contents of disclosure statement to borrower. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-120, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-120, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-130
Restrictions as to charges. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-130, filed 1/26/96, effective 2/26/96. Statutory Authority: RCW 31.04.165. WSR 93-16-033, § 50-20-130, filed 7/27/93, effective 8/27/93. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-130, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-140
Open-end loans—Increase in interest—Notice to borrower. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-140, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-160, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-150
Open-end loans—Periodic statements. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-150, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-160
Advertising—Restrictions and requirements. [Statutory Authority: RCW 31.04.165. WSR 02-21-101, § 208-620-160, filed 10/22/02, effective 11/22/02. Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-160, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-140, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-170
Knowledge of the law and regulations. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-170, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-180, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-180
Examinations. [Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 99-22-047, § 208-620-180, filed 10/29/99, effective 11/29/99. Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-180, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-190
Schedule of fees. [Statutory Authority: RCW 18.44.410, 19.146.223, 19.146.225, 19.146.265, 31.04.165, 31.45.200. WSR 01-12-029, § 208-620-190, filed 5/29/01, effective 7/1/01. Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-190, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-190, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-191
Fee increase. [Statutory Authority: RCW 18.44.410, 19.146.223, 19.146.225, 19.146.265, 31.04.165, 31.45.200. WSR 01-12-029, § 208-620-191, filed 5/29/01, effective 7/1/01.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-192
Waiver of fees. [Statutory Authority: RCW 18.44.410, 19.146.223, 19.146.225, 19.146.265, 31.04.165, 31.45.200. WSR 01-12-029, § 208-620-192, filed 5/29/01, effective 7/1/01.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-200
Change of place of business. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-200, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-210
Other business in same office. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, recodified as § 208-620-210, filed 1/26/96, effective 2/26/96. Statutory Authority: 1991 c 208 § 17. WSR 91-22-035, § 50-20-150, filed 10/30/91, effective 1/1/92.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-220
Annual report and annual fee—Due date—Late penalties. [Statutory Authority: RCW 43.320.040, 31.04.045, [31.04].105, [31.04].145, [31.04].155 and [31.04].165. WSR 96-04-013, § 208-620-220, filed 1/26/96, effective 2/26/96.] Repealed by WSR 06-04-053, filed 1/27/06, effective 2/27/06. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175.
208-620-245
Does the Consumer Loan Act allow me to make one or two loans without being licensed? [Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-245, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-245, filed 1/27/06, effective 2/27/06.] Repealed by WSR 13-24-024, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-252
If I am offering loans by mail or internet to Washington residents, do I have to license those locations? [Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-252, filed 10/5/10, effective 11/5/10.] Repealed by WSR 13-24-024, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-270
Can I make a loan subject to the act without first getting a license? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-270, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.
208-620-285
If my application is incomplete when I file it with the department, what will happen? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-285, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.
208-620-380
Are there any additional requirements for out-of-state licensees? [Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-380, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-380, filed 1/27/06, effective 2/27/06.] Repealed by WSR 10-20-122, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35.
208-620-390
If I am offering loans by mail or internet to Washington residents, do I have to license those locations? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-390, filed 1/27/06, effective 2/27/06.] Repealed by WSR 10-20-122, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35.
208-620-395
Do I need to display my license in my place of business? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-395, filed 1/27/06, effective 2/27/06.] Repealed by WSR 12-18-047, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-410
May I sell other types of products from my licensed location? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-410, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.
208-620-432
Will the filing of the fourth quarter call report satisfy the consolidated annual report (CAR) requirement of WAC 208-620-430? [Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-432, filed 12/1/09, effective 1/1/10.] Repealed by WSR 12-18-047, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-470
Do I need to notify the department if I move the location of my office? [Statutory Authority: RCW 43.320.040. WSR 08-15-125, § 208-620-470, filed 7/22/08, effective 8/22/08. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-470, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.
208-620-475
Must I notify the department if I cease doing business in this state if I am doing business in other states? [Statutory Authority: RCW 43.320.040. WSR 08-15-125, § 208-620-475, filed 7/22/08, effective 8/22/08. Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-475, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.
208-620-512
If I pull a credit report on a consumer who has identified a specific property on a purchase and sales agreement or contract, or is refinancing a specific property, is that enough to trigger the required disclosures under RESPA and TILA? [Statutory Authority: RCW 31.04.165, 31.04.015, 31.04.045, 31.04.075, 31.04.085, 31.04.093, 31.04.102, 31.04.115, 31.04.145, 31.04.155, and 31.04.175. WSR 06-04-053, § 208-620-512, filed 1/27/06, effective 2/27/06.] Repealed by WSR 09-24-090, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149.