Chapter 208-620 WAC

Last Update: 11/30/22

WASHINGTON CONSUMER LOAN ACT

(Formerly chapter 50-20 WAC)

WAC Sections

HTMLPDF208-620-010Definitions.
HTMLPDF208-620-011How does the department interpret certain definitions in RCW 31.04.015?
EXEMPTION FROM LICENSING
HTMLPDF208-620-104Who is exempt from licensing as a consumer loan company?
HTMLPDF208-620-105Who is exempt from licensing as a mortgage loan originator under this act?
COMPANY LICENSING
HTMLPDF208-620-230Do I need a consumer loan license to lend money, extend credit, service or modify the terms of residential mortgage loans, or service student education loans?
HTMLPDF208-620-231Who must have a consumer loan license to service residential mortgage loans secured by Washington residential real estate or obligating Washington residents?
HTMLPDF208-620-232Can I make a small number of residential mortgage loans without being licensed at the company level?
HTMLPDF208-620-234Must a company that provides loan processing or underwriting services on residential mortgage loans be licensed under the Consumer Loan Act?
HTMLPDF208-620-235When making loans, is there a maximum rate of interest allowed under the act?
HTMLPDF208-620-250Is my company required to have a licensed location in the state of Washington?
HTMLPDF208-620-251Are there any additional requirements for out-of-state licensees?
HTMLPDF208-620-260If I am licensed under the Consumer Loan Act, can I broker residential mortgage loans in the state of Washington?
HTMLPDF208-620-271Do I need a license to assist a homeowner with a residential mortgage loan modification?
HTMLPDF208-620-280How do I apply for a consumer loan license?
HTMLPDF208-620-281What will happen if my license application is incomplete?
HTMLPDF208-620-282How do I withdraw my application for a license?
HTMLPDF208-620-284What are my rights if the director denies my application for a license?
HTMLPDF208-620-290What fees must I pay for my application for a consumer loan license?
HTMLPDF208-620-300If I want to operate my business from more than one location, do I have to license each location?
HTMLPDF208-620-301If I make residential mortgage loans and employ managers, must they license individually as mortgage loan originators?
HTMLPDF208-620-310Is it necessary to license an office that is only providing underwriting and other back-office services?
HTMLPDF208-620-320What is the amount of the surety bond required for my consumer loan license?
HTMLPDF208-620-321What are the capital requirements for a nondepository residential mortgage loan servicer applicant and licensee servicing loans guaranteed by one or more government sponsored entity (GSE) and/or government corporation?
HTMLPDF208-620-322What are the capital requirements for a nondepository residential mortgage loan servicer applicant or licensee servicing loans not guaranteed by a government sponsored entity (GSE) and/or government corporation?
HTMLPDF208-620-324What are the capital requirements for a student education loan servicer?
HTMLPDF208-620-327How often will my bond amount change?
HTMLPDF208-620-328For purposes of the annual assessment and surety bond calculation, how often must I report my Washington activity?
HTMLPDF208-620-330Does the surety bond need to reflect coverage for licensee and its W-2 employees and independent contractors?
HTMLPDF208-620-340Do I have any alternative to maintaining a surety bond?
HTMLPDF208-620-341If I originate residential mortgage loans and my company relies on the bond substitute, must my licensed mortgage loan originators obtain an individual bond?
HTMLPDF208-620-350If I qualify to use a bond substitute in lieu of a surety bond, what documentation do I have to provide to the department?
HTMLPDF208-620-360What if I use a bond substitute and my unimpaired capital falls below the minimum?
HTMLPDF208-620-370What are the grounds for denying or conditioning my consumer loan company license application?
HTMLPDF208-620-371May I employ someone to work with Washington residents or Washington property who has been convicted of a gross misdemeanor or felony, or who has had a financial services-related license revoked or suspended?
HTMLPDF208-620-372Am I responsible for the actions of my employees and independent contractors?
HTMLPDF208-620-373What happens to residential mortgage loans in the pipeline if a mortgage loan originator leaves my company?
HTMLPDF208-620-374What action must I take in the NMLS if I fire a residential mortgage loan originator or if a residential mortgage loan originator quits?
HTMLPDF208-620-378Knowledge of the law and rules.
HTMLPDF208-620-400Can I share an office with another business?
HTMLPDF208-620-420May I transact my company business in a name other than the name on my company license?
HTMLPDF208-620-425May I transfer or assign my license?
LICENSEE REPORT REQUIREMENTS
HTMLPDF208-620-430What are my annual filing requirements as a consumer loan licensee?
HTMLPDF208-620-431What are my quarterly call report filing requirements?
HTMLPDF208-620-440How do I calculate the annual assessment for my nonmortgage activity in Washington?
HTMLPDF208-620-441How do I calculate the annual assessment for my residential mortgage activity in Washington?
HTMLPDF208-620-442How do I calculate the annual assessment for my student education loan servicing activity in Washington?
HTMLPDF208-620-460Must I file my annual reports even if I go out of business during the year?
HTMLPDF208-620-480What are my reporting responsibilities if my company files for bankruptcy?
HTMLPDF208-620-490What are my reporting responsibilities when something of significance happens to my business?
HTMLPDF208-620-499What are my reporting requirements if I want to close my company or surrender my license?
HTMLPDF208-620-500What are my reporting requirements if I want to close one or more of my branch offices?
DISCLOSURE AND OTHER OBLIGATIONS
HTMLPDF208-620-505In addition to the Consumer Loan Act, what other laws do I have to comply with?
HTMLPDF208-620-506Must my underwriting analysis of a borrower's residential mortgage loan application include a determination of the borrower's ability to repay the loan?
HTMLPDF208-620-507What elements of an ability to repay analysis must be part of my underwriting policy of a conventional residential mortgage loan?
HTMLPDF208-620-510What are my disclosure obligations to consumers?
HTMLPDF208-620-511What is the disclosure required under RCW 19.144.020 for residential mortgage loans?
HTMLPDF208-620-513In a residential mortgage loan transaction, what are my disclosure obligations to the company that brokered the loan to me?
POWERS AND RESTRICTIONS
HTMLPDF208-620-515What authority do I have after my license has been issued?
RECORDKEEPING
HTMLPDF208-620-520What are the records I must maintain and for how long must I maintain them?
HTMLPDF208-620-530Can I maintain my records electronically?
HTMLPDF208-620-531Must I have a business resumption plan?
HTMLPDF208-620-532Records disposal.
HTMLPDF208-620-540Do I need to account separately for payments from borrowers for third-party service providers?
HTMLPDF208-620-545Must I provide a written agreement when I provide third-party residential mortgage loan modification services?
RESTRICTIONS, PROHIBITIONS AND GROUNDS FOR REVOCATION
HTMLPDF208-620-550What business practices are prohibited?
HTMLPDF208-620-551Residential mortgage loan servicers—What business practices are prohibited?
HTMLPDF208-620-552Third-party residential loan modification service providers—What business practices are prohibited?
HTMLPDF208-620-553Conducting residential mortgage loan servicing activities in the United States or outside the United States.
HTMLPDF208-620-554Conducting student education loan servicing activities in the United States or outside the United States.
HTMLPDF208-620-555Allowable loan fees and timing of collection.
HTMLPDF208-620-556What fees must I refund to the borrower if I provide services subject to the act but do not have a license?
HTMLPDF208-620-560Restricted or conditional loan fees.
HTMLPDF208-620-561What fees can I collect on VA loans?
HTMLPDF208-620-563Prohibited fees on certain loans.
HTMLPDF208-620-565What fees am I allowed to charge or receive when acting as a residential mortgage loan broker under the act?
HTMLPDF208-620-566What fees am I not allowed to charge or receive when brokering residential mortgage loans under the act?
HTMLPDF208-620-567What fees can I charge when servicing residential mortgage loans under the act?
HTMLPDF208-620-568What fees am I not allowed to charge when providing third-party residential mortgage loan modification services under the act?
HTMLPDF208-620-569What fees can I charge the student education loan borrower when servicing student education loans?
HTMLPDF208-620-570What are the grounds for suspending or revoking a consumer loan company license?
INFORMATION SECURITY
HTMLPDF208-620-571Information security program required by the federal Safeguards Rule implementing the Gramm-Leach-Bliley Act.
HTMLPDF208-620-572Consumer financial information privacy under the Gramm-Leach-Bliley Act (GLBA) and Regulation P.
HTMLPDF208-620-573Notice to consumers of data breach.
EXAMINATIONS
HTMLPDF208-620-580As a licensee, will my business be subject to periodic examinations?
HTMLPDF208-620-585Compliance management system (CMS).
HTMLPDF208-620-590How much will I be charged for my examinations and when will the payment be due?
HTMLPDF208-620-600How often will the department visit my business to examine my records?
HTMLPDF208-620-601What assistance may the department seek in conducting an investigation or examination of my business?
INVESTIGATIONS
HTMLPDF208-620-610What authority does the department have to investigate violations of the Consumer Loan Act?
HTMLPDF208-620-611What federal guidance has the director adopted for use by the department in determining if a violation under RCW 31.04.027 has occurred?
HTMLPDF208-620-612What must I do to comply with the federal guidelines on nontraditional mortgage loan product risks and statement on subprime lending?
HTMLPDF208-620-613When I develop policies and procedures to implement the federal guidelines on applicable conventional residential mortgage loans, what topics must be included?
HTMLPDF208-620-614What Washington law protects my rights when my license is suspended or revoked?
HTMLPDF208-620-615Application of the Administrative Procedure Act.
ADVERTISING RESTRICTIONS
HTMLPDF208-620-620How do I have to identify my business when I advertise?
HTMLPDF208-620-621May I advertise over the internet using a URL address that is not my licensed business name?
HTMLPDF208-620-622When advertising using the internet or any electronic form (including, but not limited to, text messages), is there specific content the advertisements must contain?
HTMLPDF208-620-630What are some of the advertising restrictions I must comply with?
HTMLPDF208-620-640What are some of the federal laws I must comply with when I advertise any loan subject to the Consumer Loan Act?
MISCELLANEOUS
HTMLPDF208-620-650Will the director waive fees charged under the Consumer Loan Act?
HTMLPDF208-620-660What is required for a Washington licensed loan originator to work from their residence without licensing the residence as a branch location?
MORTGAGE LOAN ORIGINATOR LICENSING
HTMLPDF208-620-700Mortgage loan originator—General.
HTMLPDF208-620-710Mortgage loan originator—Licensing.
HTMLPDF208-620-715Temporary authority to originate loans.
HTMLPDF208-620-720Loan originator—Prelicensing education.
HTMLPDF208-620-725Mortgage loan originator—Testing.
HTMLPDF208-620-730Loan originator—Continuing education.
PROPRIETARY REVERSE MORTGAGE PRODUCTS
HTMLPDF208-620-800What definitions are applicable to proprietary reverse mortgage products under the act?
HTMLPDF208-620-805Does this part (WAC 208-620-800 through 208-620-850) apply to the FHA approved home equity conversion mortgage (HECM) product?
HTMLPDF208-620-810What requirements must I meet before offering or making proprietary reverse mortgages to Washington residents?
HTMLPDF208-620-820What specific loan terms and conditions are allowed or required in the proprietary reverse mortgages I make to Washington residents?
HTMLPDF208-620-825What reverse mortgage program information must I submit to the director for approval before offering or making proprietary reverse mortgages?
HTMLPDF208-620-830What disclosures or statements must I provide to a borrower in a reverse mortgage transaction?
HTMLPDF208-620-835Under 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?
HTMLPDF208-620-850What is the process I must follow to obtain the department's approval of my proprietary reverse mortgage product?
RESIDENTIAL MORTGAGE LOAN SERVICING REQUIREMENTS
HTMLPDF208-620-900Servicing residential mortgage loans—General requirement.
HTMLPDF208-620-905Servicing residential mortgage loans—Maintenance of the escrow account.
HTMLPDF208-620-920Servicing residential mortgage loans—Borrower requests for information.
HTMLPDF208-620-930Servicing residential mortgage loans—Loss mitigation.
HTMLPDF208-620-935Servicing residential mortgage loans—Foreclosure.
STUDENT EDUCATION LOAN SERVICING REQUIREMENTS
HTMLPDF208-620-950Servicing student education loans—General requirements.
HTMLPDF208-620-960Servicing student education loans—Requests for information.
HTMLPDF208-620-970Servicing student education loans—Acquiring, transferring, or selling servicing activities.
DISPOSITION OF SECTIONS FORMERLY CODIFIED IN THIS TITLE
208-620-020License 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.
208-620-030Surety 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.
208-620-040Bond 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.
208-620-045How 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.
208-620-050Interstate 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.
208-620-055How 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.
208-620-060Registered 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.
208-620-070Change 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.
208-620-080Resignation 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.
208-620-090Service 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.
208-620-100Records. [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.
208-620-110The 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.
208-620-120Contents 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.
208-620-130Restrictions 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.
208-620-140Open-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.
208-620-150Open-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.
208-620-160Advertising—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.
208-620-170Knowledge 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.
208-620-180Examinations. [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.
208-620-190Schedule 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.
208-620-191Fee 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.
208-620-192Waiver 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.
208-620-200Change 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.
208-620-210Other 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.
208-620-220Annual 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.
208-620-240Once I am licensed, does the act apply to all loans I broker or make? [Statutory Authority: Chapter 43.320 RCW, RCW 31.04.165. WSR 16-08-026, § 208-620-240, filed 3/30/16, effective 4/30/16. Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 13-24-024, § 208-620-240, filed 11/22/13, effective 1/1/14. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-240, 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, § 208-620-240, filed 1/27/06, effective 2/27/06.] Repealed by WSR 19-21-157, filed 10/22/19, effective 11/24/19. Statutory Authority: RCW 43.320.040 and 31.04.165.
208-620-245Does 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.
208-620-252If 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.
208-620-270Can 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.
208-620-285If 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.
208-620-325What will my bond amount be in the first year of licensing? [Statutory Authority: RCW 43.320.040 and 31.04.165. WSR 13-24-024, § 208-620-325, filed 11/22/13, effective 1/1/14; WSR 12-18-047, § 208-620-325, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040, 31.04.165 and 2010 c 35. WSR 10-20-122, § 208-620-325, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 43.320.040, 31.04.165, 2009 c 120, and 2009 c 149. WSR 09-24-090, § 208-620-325, filed 12/1/09, effective 1/1/10.] Repealed by WSR 17-01-124, filed 12/20/16, effective 1/1/18. Statutory Authority: Chapter 43.320 RCW, RCW 31.04.165, and 31.04.300.
208-620-380Are 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.
208-620-390If 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.
208-620-395Do 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.
208-620-410May 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.
208-620-432Will 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.
208-620-470Do 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.
208-620-475Must 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.
208-620-512If 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.