Spring/Summer 2022
Division of Consumer Services
Newsletter

Message from Consumer Services Director Cindy Fazio

Hello! I hope you and your families are healthy. I hope your business remains strong in light of some of the economic changes we are experiencing.

Now, our ability to recover is taxed with increasing inflation, the threat of recession, and the change of the stock market from Bull to Bear after 13 euphoric years. This has heavily impacted both the mortgage and money services businesses market..

Read: Message from Cindy Fazio

Featured Articles

A Return to On-Site Examinations

As most state COVID restrictions are lifted, the Consumer Services Examination Unit will transition back to conducting routine on-site examinations.

This does not mean that all examinations going forward will be on-site. Prior to COVID-19-related travel restrictions, a majority of the Unit’s examinations took place off-site.

Read: A Return to On-Site Examinations

Working with Borrowers Applying for Relief through the Washington Homeowner Assistance Fund

DFI remains focused on preventing avoidable foreclosures to the maximum extent possible and expects mortgage servicers to do the same.

Funds from the Washington’s Homeowner Assistance Fund (HAF) are available to resolve delinquencies and to help prevent foreclosure for many homeowners.

Read: Working with Borrowers Applying for Relief

Federal Student Aid Updates

Updates regarding the public service loan forgiveness program and student loan payment pause.

Read: Federal Student Aid Updates

From the Field - Common Exam Findings

Updates from the examinations unit regarding common exam findings.

Read: Common Exam Findings

Industry Updates

What's New

Rulemaking Updates

What's New

The Department of Financial Institutions filed a CR-101 with the Code Reviser to begin a rulemaking under the Consumer Loan Act rules (WAC 208-620) and the Mortgage Broker Practices Act rules (WAC 208-660).

Please note, there is no proposed language at the time.

Visit DFI’s Rulemaking webpage to view all rulemaking documents.