Rulemaking Update

Student Education Loan Servicers

DFI filed a CR-101 to create rules implementing the law (E2SSB 6029, c 62, Laws of 2018). The rules will include, among other things: definitions and the addition of student education loan servicing and student education loan servicers to those activities and persons regulated under the Consumer Loan Act. Student education loan servicing will have a number of consumer protections and the agency will be able to monitor servicers’ activities.

The filing is here: CR-101

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Consumer Loan Act – Residential Mortgage Loan Servicers

DFI filed a CR-101 to propose amendments to the rules. The proposed amendments include: clarifying the roles of parties investing in, owning, and servicing residential mortgage loans; clarifying what residential mortgage loan servicing activities can be conducted outside the United States and its territories; making technical changes where needed; and, restructuring WAC 208-620-900 to make it easier to read.

The filing is here: CR-101

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Uniform Money Services Act

DFI filed a CR-101 to propose amendments to the rules implementing changes to the law. The rule amendment proposals will implement changes to the law and provide guidance to the industry. Some technical amendments will be proposed as well. Changes to the law can be viewed here: Substitute Senate Bill 5031.

The filing is here: CR-101

Throughout rulemakings you can provide comments in any of the following methods:

Contact: Sara Rietcheck
Division of Consumer Services
PO Box 41200
Olympia, WA 98504-1200
Phone: (360) 902-8793
Email: sara.rietcheck@dfi.wa.gov