Companies and individuals offering loan modification services to Washington residents involving their Washington real property must be licensed under the Mortgage Broker Practices Act (MBPA), chapter 19.146 RCW, or Consumer Loan Act (CLA), chapter 31.04 RCW, unless otherwise exempt under the language of those Acts.
Licensing & Laws for Loan Modification Service Providers
The Mortgage Assistance Relief Services Rule
The Federal Trade Commission (FTC) has issued a rule to curb unfair and deceptive practices associated with mortgage assistance relief services. If you offer mortgage assistance reliefservices – or work with companies that do – it’s wise to know about the provisions.
Mortgage Broker Licensing
Information on how to become licensed under the Mortgage Broker Practices Act.
Consumer Loan Company Licensing
Information on how to become licensed under the Consumer Loan Act.
Mortgage Broker Practices Act
Consumer Loan Act