Tips to Expedite Mortgage Broker Applications

These are several things you can do to expedite your Mortgage Broker application.

  • Ensure you file a complete application from the beginning. The less piecing together of application materials, the faster the application can be processed.
  • Monitor your NMLS account for deficiencies to be posted. DFI uses the NMLS only to notify companies of deficiencies with an application.
  • If you do have items you must provide DFI, please submit all the items at the same time rather than each item as it is completed.

Why Applications Are Delayed

Below are the most common reasons why the processing of a Mortgage Broker application is delayed.

  1. Items listed on the New Application Checklist are not received within 5 business days of the filing
  2. Surety Bond Problems
    • Company name listed incorrectly
    • Company’s UBI and/or NMLS numbers are missing or are incorrect
    • Bond not signed by the company or is signed by someone other than a control person.
  3. Designated Broker Problems
    • Designated Broker did not apply for the Designated Broker Registration on the NMLS.
    • Designated Broker did not provide all the items required on the New Application Checklist.
    • Designated Broker did not pass the Designated Broker Test (this is not the same test as the SAFE Act MLO tests)
  4. Company not registered with the Washington Secretary of State and/or Business Licensing Services

DFI expects licensees to meet high ethical and performance standards. Often consumers' money is in your hands. Attention to detail and the law is a requirement for licensees and it starts with the licensing application.