Washington · Regulations
Chapter 208-620 — WASHINGTON CONSUMER LOAN ACT
122 sections
122 sections
- WAC 208-620-010WAC 208-620-010. Definitions
- WAC 208-620-011WAC 208-620-011. How does the department interpret certain definitions in RCW 31.04.015 ?
- WAC 208-620-104WAC 208-620-104. Who is exempt from licensing as a consumer loan company?
- WAC 208-620-105WAC 208-620-105. Who is exempt from licensing as a mortgage loan originator under this act?
- WAC 208-620-230WAC 208-620-230. Do 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?
- WAC 208-620-231WAC 208-620-231. Who must have a consumer loan license to service residential mortgage loans secured by Washington residential real estate or obligating Washington residents?
- WAC 208-620-232WAC 208-620-232. Can I make a small number of residential mortgage loans without being licensed at the company level?
- WAC 208-620-234WAC 208-620-234. Must a company that provides loan processing or underwriting services on residential mortgage loans be licensed under the Consumer Loan Act?
- WAC 208-620-235WAC 208-620-235. When making loans, is there a maximum rate of interest allowed under the act?
- WAC 208-620-250WAC 208-620-250. Is my company required to have a licensed location in the state of Washington?
- WAC 208-620-251WAC 208-620-251. Are there any additional requirements for out-of-state licensees?
- WAC 208-620-260WAC 208-620-260. If I am licensed under the Consumer Loan Act, can I broker residential mortgage loans in the state of Washington?
- WAC 208-620-271WAC 208-620-271. Do I need a license to assist a homeowner with a residential mortgage loan modification?
- WAC 208-620-280WAC 208-620-280. How do I apply for a consumer loan license?
- WAC 208-620-281WAC 208-620-281. What will happen if my license application is incomplete?
- WAC 208-620-282WAC 208-620-282. How do I withdraw my application for a license?
- WAC 208-620-284WAC 208-620-284. What are my rights if the director denies my application for a license?
- WAC 208-620-290WAC 208-620-290. What fees must I pay for my application for a consumer loan license?
- WAC 208-620-300WAC 208-620-300. If I want to operate my business from more than one location, do I have to license each location?
- WAC 208-620-301WAC 208-620-301. If I make residential mortgage loans and employ managers, must they license individually as mortgage loan originators?
- WAC 208-620-310WAC 208-620-310. Is it necessary to license an office that is only providing underwriting and other back-office services?
- WAC 208-620-320WAC 208-620-320. What is the amount of the surety bond required for my consumer loan license?
- WAC 208-620-321WAC 208-620-321. What 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?
- WAC 208-620-322WAC 208-620-322. What 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?
- WAC 208-620-324WAC 208-620-324. What are the capital requirements for a student education loan servicer?
- WAC 208-620-327WAC 208-620-327. How often will my bond amount change?
- WAC 208-620-328WAC 208-620-328. For purposes of the annual assessment and surety bond calculation, how often must I report my Washington activity?
- WAC 208-620-330WAC 208-620-330. Does the surety bond need to reflect coverage for licensee and its W-2 employees and independent contractors?
- WAC 208-620-340WAC 208-620-340. Do I have any alternative to maintaining a surety bond?
- WAC 208-620-341WAC 208-620-341. If I originate residential mortgage loans and my company relies on the bond substitute, must my licensed mortgage loan originators obtain an individual bond?
- WAC 208-620-350WAC 208-620-350. If I qualify to use a bond substitute in lieu of a surety bond, what documentation do I have to provide to the department?
- WAC 208-620-360WAC 208-620-360. What if I use a bond substitute and my unimpaired capital falls below the minimum?
- WAC 208-620-370WAC 208-620-370. What are the grounds for denying or conditioning my consumer loan company license application?
- WAC 208-620-371WAC 208-620-371. May 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?
- WAC 208-620-372WAC 208-620-372. Am I responsible for the actions of my employees and independent contractors?
- WAC 208-620-373WAC 208-620-373. What happens to residential mortgage loans in the pipeline if a mortgage loan originator leaves my company?
- WAC 208-620-374WAC 208-620-374. What action must I take in the NMLS if I fire a residential mortgage loan originator or if a residential mortgage loan originator quits?
- WAC 208-620-378WAC 208-620-378. Knowledge of the law and rules
- WAC 208-620-400WAC 208-620-400. Can I share an office with another business?
- WAC 208-620-420WAC 208-620-420. May I transact my company business in a name other than the name on my company license?
- WAC 208-620-425WAC 208-620-425. May I transfer or assign my license?
- WAC 208-620-430WAC 208-620-430. What are my annual filing requirements as a consumer loan licensee?
- WAC 208-620-431WAC 208-620-431. What are my quarterly call report filing requirements?
- WAC 208-620-440WAC 208-620-440. How do I calculate the annual assessment for my nonmortgage activity in Washington?
- WAC 208-620-441WAC 208-620-441. How do I calculate the annual assessment for my residential mortgage activity in Washington?
- WAC 208-620-442WAC 208-620-442. How do I calculate the annual assessment for my student education loan servicing activity in Washington?
- WAC 208-620-460WAC 208-620-460. Must I file my annual reports even if I go out of business during the year?
- WAC 208-620-480WAC 208-620-480. What are my reporting responsibilities if my company files for bankruptcy?
- WAC 208-620-490WAC 208-620-490. What are my reporting responsibilities when something of significance happens to my business?
- WAC 208-620-499WAC 208-620-499. What are my reporting requirements if I want to close my company or surrender my license?
- WAC 208-620-500WAC 208-620-500. What are my reporting requirements if I want to close one or more of my branch offices?
- WAC 208-620-505WAC 208-620-505. In addition to the Consumer Loan Act, what other laws do I have to comply with?
- WAC 208-620-506WAC 208-620-506. Must my underwriting analysis of a borrower's residential mortgage loan application include a determination of the borrower's ability to repay the loan?
- WAC 208-620-507WAC 208-620-507. What elements of an ability to repay analysis must be part of my underwriting policy of a conventional residential mortgage loan?
- WAC 208-620-510WAC 208-620-510. What are my disclosure obligations to consumers?
- WAC 208-620-511WAC 208-620-511. What is the disclosure required under RCW 19.144.020 for residential mortgage loans?
- WAC 208-620-513WAC 208-620-513. In a residential mortgage loan transaction, what are my disclosure obligations to the company that brokered the loan to me?
- WAC 208-620-515WAC 208-620-515. What authority do I have after my license has been issued?
- WAC 208-620-520WAC 208-620-520. What are the records I must maintain and for how long must I maintain them?
- WAC 208-620-530WAC 208-620-530. Can I maintain my records electronically?
- WAC 208-620-531WAC 208-620-531. Must I have a business resumption plan?
- WAC 208-620-532WAC 208-620-532. Records disposal
- WAC 208-620-540WAC 208-620-540. Do I need to account separately for payments from borrowers for third-party service providers?
- WAC 208-620-545WAC 208-620-545. Must I provide a written agreement when I provide third-party residential mortgage loan modification services?
- WAC 208-620-550WAC 208-620-550. What business practices are prohibited?
- WAC 208-620-551WAC 208-620-551. Residential mortgage loan servicers — What business practices are prohibited?
- WAC 208-620-552WAC 208-620-552. Third-party residential loan modification service providers—What business practices are prohibited?
- WAC 208-620-553WAC 208-620-553. Conducting residential mortgage loan servicing activities in the United States or outside the United States
- WAC 208-620-554WAC 208-620-554. Conducting student education loan servicing activities in the United States or outside the United States
- WAC 208-620-555WAC 208-620-555. Allowable loan fees and timing of collection
- WAC 208-620-556WAC 208-620-556. What fees must I refund to the borrower if I provide services subject to the act but do not have a license?
- WAC 208-620-560WAC 208-620-560. Restricted or conditional loan fees
- WAC 208-620-563WAC 208-620-563. Prohibited fees on certain loans
- WAC 208-620-565WAC 208-620-565. What fees am I allowed to charge or receive when acting as a residential mortgage loan broker under the act?
- WAC 208-620-566WAC 208-620-566. What fees am I not allowed to charge or receive when brokering residential mortgage loans under the act?
- WAC 208-620-567WAC 208-620-567. What fees can I charge when servicing residential mortgage loans under the act?
- WAC 208-620-568WAC 208-620-568. What fees am I not allowed to charge when providing third-party residential mortgage loan modification services under the act?
- WAC 208-620-569WAC 208-620-569. What fees can I charge the student education loan borrower when servicing student education loans?
- WAC 208-620-570WAC 208-620-570. What are the grounds for suspending or revoking a consumer loan company license?
- WAC 208-620-571WAC 208-620-571. Information security program required by the federal Safeguards Rule implementing the Gramm-Leach-Bliley Act
- WAC 208-620-572WAC 208-620-572. Consumer financial information privacy under the Gramm-Leach-Bliley Act (GLBA) and Regulation P
- WAC 208-620-573WAC 208-620-573. Notice to consumers of data breach
- WAC 208-620-580WAC 208-620-580. As a licensee, will my business be subject to periodic examinations?
- WAC 208-620-585WAC 208-620-585. Compliance management system (CMS)
- WAC 208-620-590WAC 208-620-590. How much will I be charged for my examinations and when will the payment be due?
- WAC 208-620-600WAC 208-620-600. How often will the department visit my business to examine my records?
- WAC 208-620-601WAC 208-620-601. What assistance may the department seek in conducting an investigation or examination of my business?
- WAC 208-620-610WAC 208-620-610. What authority does the department have to investigate violations of the Consumer Loan Act?
- WAC 208-620-611WAC 208-620-611. What federal guidance has the director adopted for use by the department in determining if a violation under RCW 31.04.027 has occurred?
- WAC 208-620-612WAC 208-620-612. What must I do to comply with the federal guidelines on nontraditional mortgage loan product risks and statement on subprime lending?
- WAC 208-620-613WAC 208-620-613. When I develop policies and procedures to implement the federal guidelines on applicable conventional residential mortgage loans, what topics must be included?
- WAC 208-620-614WAC 208-620-614. What Washington law protects my rights when my license is suspended or revoked?
- WAC 208-620-615WAC 208-620-615. Application of the Administrative Procedure Act
- WAC 208-620-620WAC 208-620-620. How do I have to identify my business when I advertise?
- WAC 208-620-621WAC 208-620-621. May I advertise over the internet using a URL address that is not my licensed business name?
- WAC 208-620-622WAC 208-620-622. When advertising using the internet or any electronic form (including, but not limited to, text messages), is there specific content the advertisements must contain?
- WAC 208-620-630WAC 208-620-630. What are some of the advertising restrictions I must comply with?
- WAC 208-620-640WAC 208-620-640. What are some of the federal laws I must comply with when I advertise any loan subject to the Consumer Loan Act?
- WAC 208-620-650WAC 208-620-650. Will the director waive fees charged under the Consumer Loan Act?
- WAC 208-620-660WAC 208-620-660. What is required for a Washington licensed loan originator to work from their residence without licensing the residence as a branch location?