WSR 06-12-059

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[ Filed June 2, 2006, 2:51 p.m. ]

Subject of Possible Rule Making: Regulating mortgage brokers and loan originators licensed under chapter 19.146 RCW, and implementing chapter 19, Laws of 2006.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 43.320.040, 19.146.223, sections 4, 5, 7, 10, 11, 12, 13, 14, 15, 16, 18, 19, 20, and 23, chapter 19, Laws of 2006.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Existing rules must be amended and new sections developed to implement and be consistent with chapter 19.146 RCW as extensively amended by chapter 19, Laws of 2006.

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 Chuck Cross, Director, Consumer Services, (360) 902-8733, ccross@dfi.wa.gov, P.O. Box 41200, Olympia, WA 98504-1200, fax (360) 664-2258.

June 2, 2006

Chuck Cross

Division Director

Washington State Code Reviser's Office