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Message from Rick St. Onge

Summer is here and I hope you’re enjoying the longer days. We continue to see growth in all of our industries this summer and that is keeping us busy.

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Proprietary Reverse Mortgage Products

Are you a Consumer Loan lender who’s thinking about offering proprietary reverse mortgage products to Washington consumers? If so, you need to be aware of the Department’s requirement to apply for approval prior to offering these types of loans.

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Guidance for Money Transmitters: Reporting Adverse Actions Against Your License

Money services businesses (MSBs) providing services in Washington are required by law to report adverse actions taken against them. This guide is a starting point to help you develop policies in compliance with RCW 19.230.150(3) and RCW 19.230.152. Keep in mind that reporting requirements may vary in different states.

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The Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) provides certain protections and benefits to military servicemembers and their families. Among these is a 6 percent limit on the amount of interest that can be charged on loans taken out by a servicemember or the servicemember and his/her spouse jointly before joining the military.

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From the Field - Common Exam Findings

Common violations our exam teams in each industry found during examinations in the last quarter.

Olympia Capitol

Legislative Update

The 2019 legislative session adjourned April 28, 2019. 2,762 bills were introduced during the 105 days the 2019 legislature was in session. Of these, 484 were signed into law. This article discusses bills that may affect DFI licensees.

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Rulemaking Updates

Updates for Mortgage Broker Practices Act and Consumer Loan Act.


Mortgage Industry Updates

Updates for the mortgage industry.

Sorting Money

Check Casher and Seller Updates

Updates for Check Cashers and Sellers.

Escrow Document

Escrow Updates

Updates for the Escrow industry.


Money Services Update

Updates for the Money Services industry.