WAC 230-03-211. Defining "lending agent," "loan servicer," or "placement agent."

(1) "Lending agent," "loan servicer," or "placement agent" means any person or entity, other than a regulated lending institution, that finds, administers, facilitates, or services loans for a licensee. (2) The services of lending agents, loan servicers, or placement agents include, but are not limited to: (a) Charging an ongoing fee for their services; (b) Maintaining rights as the lender; (c) Determining when the loan is in default; and/or (d) Maintaining access to collateral.