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.
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.
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.
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.
Common violations our exam teams in each industry found during examinations in the last quarter.
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.
Updates for Mortgage Broker Practices Act and Consumer Loan Act.
Updates for the mortgage industry.
Updates for Check Cashers and Sellers.
Updates for the Escrow industry.
Updates for the Money Services industry.