Consumer Loan Annual Assessments

What's New

  • Student Education Loan Servicing takes effect January 1, 2019
  • Residential Loan Servicing Invoice No Longer Billed Separately
  • Temporary Fee Reduction for Annual Assessment Report (AAR) Section Volume
  • System Now Accepts CSV Files

Important Deadlines and Information

Assessment Due Date – March 1, 2019

All Washington State Consumer Loan Annual Assessment Reports are due by March 1, 2019. In order to avoid late fees and penalties, all assessment reports and payments must be filed and paid by March 1, 2019. This means you must have filed your annual assessment report loan data, attested to the accuracy, and made your electronic payment by that deadline. We suggest you begin the process early to ensure a timely filing.

Late Fees

If you file after the March 1, 2019 due date you will be assessed a late fee penalty. Late fees are automatically assessed through the online filing system. The system will not allow a waiver for failure to timely complete your filing or pay your assessment.

License Expiration for Failure to File and Pay your Annual Assessment

Effective January 1, 2014, failure to file the reports and pay your Consumer Loan Annual Assessment fee by the March 1, 2019 due date; can result in expiration of your Consumer Loan License. Please refer to WAC 208-620-430 for more information.

Residential Mortgage Servicing (No longer billed separately)

For Residential Mortgage Servicing, DFI will assess the amount owed by calculating the volume provided for the following questions, multiplied by the Residential Mortgage Servicing factor of .00000746624. This amount will be due at the time of filing and is no longer be billed separately.

  1. Did your company own Mortgage Servicing Rights (MSRs) to loans, and/or whole loans contracted out to a sub servicer not licensed under the Consumer Loan Act during 2018?
  2. As a Master Servicer (owner of MSRs), and/or owner of whole loans, did your company directly service Washington Residential Mortgage Loans (not contracted to a sub servicer) during 2018?
  3. Did your company act as a Sub Servicer of Washington Residential Mortgage Loans on behalf of a Master Servicer, and/or owner of whole loans during 2018?

Student Education Loan Servicing

Student Education Loan Servicing information that is collected for 2018 is for informational use only and will be not be assessed an assessment fee.

An assessment fee for Student Education Loan Servicing will take effect for the 2019 annual assessment reporting period. See WAC 208-620-442.


How to Access the Online System


About the Assessment System

DFI has made improvements to the online assessment filing system. This system will allow you to file both the Annual Assessment Report (AAR) and the Consolidated Annual Report (CAR) as well as make your payment via E-Check, Visa, MasterCard, Discover or American Express. However, an assessment fee in excess of $10,000 must be paid via E-Check.

How does the online assessment filing system work?

The system works by asking you a series of questions. For any “YES” answer you must provide the “Total Loan Count Numbers” and “Total Dollar Volume Numbers”.

If you answered “Yes” to any of the below questions you must also provide loan supporting data in the CSV or XML File Specification format or manually enter the loan supporting data (max 30 loans per questions) directly into the system.

The following questions requiring CSV, XML or Manual entry supporting loan list are:

  • Did your company BROKER any Washington loans during 2018? (Include table funded loans. Do not include reverse mortgage, denied or withdrawn loans)
  • Did your company MAKE any Washington loans during 2018? (Do not include reverse mortgage, denied or withdrawn loans)
  • Did your company PURCHASE any Washington loans during 2018? (Do not include reverse mortgage, denied or withdrawn loans)
  • Did your company MAKE any Washington Reverse Mortgage loans during 2018? (Do not include denied or withdrawn loans)
  • Did your company own Mortgage Servicing Rights (MSRs) to loans, and/or whole loans contracted out to a sub servicer not licensed under the Consumer Loan Act during 2018?
  • Did your company own Mortgage Servicing Rights (MSRs) to loans, and/or whole loans contracted to a sub servicer licensed under the Consumer Loan Act during 2018?
  • As a Master Servicer (owner of MSRs), and/or owner of Whole Loans, did your company directly service Washington Residential Mortgage loans (not contracted to a sub-servicer) during 2018?
  • Did your company act as a Sub Servicer of Washington Residential Mortgage Loans on behalf of a Master Servicer, and/or owner of Whole Loans during 2018?

Annual Assessment Q&A

What data must I provide to file my annual assessment reports?

You will be required to report all Washington loan activity during 2018

Can I provide my 2018 loan data in any format?

No. The online assessment filing system requires that you provide your loan data and loan supporting data by entering your data manually into the system as well as providing the data in a specified CSV or XML file format.

Am I required to use the online assessment filing system?

Yes. DFI requires all Consumer Loan licensees to file their annual assessment reports and make a payment through the online assessment filing system. DFI will not accept paper filings or physical checks.

What can I do right now to prepare to file my annual assessment reports?

There are several things you can do right now to ensure a smooth and successful annual assessment filing:

  • Ensure you are registered for a Secure Access Washington (SAW) account.
    • Add the “Consumer Loan Online Services” Service to your account and provide your company’s DFI Reference Number. For more information click on the link above to access the online filing system.
  • Read through the assessment questions to see which questions apply to your business.
  • Gather “Total Loan Counts” and “Total Loan Dollar Volume” for each “Yes” answered question. Prepare your loan supporting data in the CSV or XML File Specification format.
  • Determine how you will pay your annual assessment fee – DFI’s online system accepts E-Checks or credit cards. If you plan to use E-Check and you have an ACH debit block on your bank account, you must notify your financial institution to allow the E-Check to be processed.
  • Removing the ACH debit block for DFI can take as long as two business days. DFI’s company identification number is G911443137. If you plan to use a credit card, the system only accepts payments for up to $10,000.

What if I did not do any business in Washington during the 2018 calendar year?

Consumer Loan Licensees must file both the AAR and the CAR even if they did NO business in Washington State during 2018. Both the AAR and CAR must be filed, even if no annual assessment fee is due.

What constitutes a complete and timely filing of the AAR and CAR?

You must electronically file and attest to your assessment report and submit your payment on or before, March 1, 2019. DO NOT SUBMIT AAR AND CAR REPORTS IN PAPER FORM.

In addition to electronic submission of the AAR and CAR, you must also file your 2018 financial statements via NMLS no later than 90 days following your Fiscal Year End as reported on your company record in NMLS. Financial statements must be prepared in accordance with GAAP and contain both a balance sheet and income statement. Visit the Financial Statement webpage for more information on filing your financial statements.

What if I fail to deliver my complete filing by the March 1, 2019, deadline?

If you filed your assessment and made your payment after the March 1st due date, you will be automatically assessed a late fee through the online filing system. Your filing will not be complete until the late fee is paid. If you fail to pay the late fee and complete the filing, the fee will accrue. See WAC 208-620-430

What transactions do I include on the AAR?

The AAR includes all Washington residential mortgage loans secured by first and junior liens, to include business, commercial, or agricultural loans secured by a lien on any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other consensual security interest on a dwelling, as defined in the Truth in Lending Act, or residential real estate upon which is constructed or intended to be constructed a dwelling. You must also include non-mortgage loans.

  • Loans held in the Licensee’s portfolio as of the close of business on December 31, 2018
  • Loans brokered by the Licensee, regardless of the interest rate, or lien position (the date a loan is made or funded is the date it was recorded into county records)
  • Loans made by the Licensee, regardless of the interest rate, or lien position
  • Loans purchased by the Licensee through the secondary market
  • Advances on Reverse Mortgages made
  • Non-mortgage loans made by the Licensee
  • Non-mortgage loans brokered by the Licensee

What loans in my portfolio from the previous year do I include in CAR Portfolio Reporting?

You must include Washington loans that you made or purchased and have not been transferred off of your warehouse line(s) or out of your portfolio on December 31st of each year. Loans carried over into the next year and are in your portfolio on December 31st will be assessed in the following year also. Other examples Include: Washington loans held for investment with or without servicing rights, loans repurchased, loans securitized for investment, and the unpaid principal balance at the time of foreclosure on foreclosed loans that have been written off but retained as an asset.

Why do I include the loans in my portfolio from the previous year on the CAR?

WAC 208-620-440(2)(a) requires the principal loan balance on Washington loans in your loan portfolio on December 31st of the prior year to be counted in the assessment calculation.

What transactions do I include on the CAR Residential Servicing Reporting?

Include all Washington residential mortgage loans you are servicing as a master or sub-servicer, servicing includes:

"Service" or "servicing a loan" means, with respect to residential mortgage loans:

(a) Collecting or attempting to collect payments on existing obligations due and owing to the lender or investor, including payments of principal, interest, escrow amounts, and other amounts due;

(b) Collecting fees due to the servicer for the servicing activities;

(c) Working with the borrower to collect data and make decisions necessary to modify certain terms of those obligations either temporarily or permanently; or

(d) Otherwise finalizing collection through the foreclosure process.


How to Contact Us

If you have any questions, contact the DFI via email at csexamsunit@dfi.wa.gov or phone at (360) 902-8703.