WSR 15-16-025

PREPROPOSAL STATEMENT OF INQUIRY

[Filed July 27, 2015, 9:42 a.m.]

Subject of Possible Rule Making: Amending the rules (chapter 208-700 WAC) under the mortgage lending fraud prosecution account, RCW 43.320.140.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.320.040, proposed in compliance with OFM Guidance 3a, dated October 12, 2011.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The rules must be amended to be consistent with the definition of mortgage lending process in chapter 229, Laws of 2015 (amending RCW 19.144.010). Having consistent definitions in the rules will better inform industry about the activities constituting mortgage fraud. Other technical amendments must be made to the rules.

Process for Developing New Rule: Negotiated rule making.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Sara Rietcheck, Division of Consumer Services, P.O. Box 41200, Olympia, WA 98504-1200, phone (360) 902-8793, e-mail sara.rietcheck@dfi.wa.gov. Sign up for the GovDelivery e-mail subscription from the department of financial institutions (DFI) web site (www.dfi.wa.gov). Access the rule-making page on the DFI web site.

July 27, 2015

Charles Clark, Director

Division of Consumer Services