Yes. (1) The company must license at the company level and must employ at least one licensed mortgage loan originator. Loan processors and underwriters are subject to the individual licensing requirements of the S.A.F.E. Act, 12 C.F.R. Part 1008 (Regulation H) if not supervised by an individual licensed as a mortgage loan originator under S.A.F.E. A company level license is required to provide the sponsorship for the supervising licensed mortgage loan originator.
(2) Alternatively, the company may license under the Mortgage Broker Practices Act, chapter
19.146 RCW.
[Statutory Authority: Chapter
43.320 RCW, RCW
31.04.165. WSR 16-08-026, § 208-620-234, filed 3/30/16, effective 4/30/16. Statutory Authority: RCW
43.320.040 and
31.04.165. WSR 13-24-024, § 208-620-234, filed 11/22/13, effective 1/1/14.]