|License Types||As of July 2022||As of July 2021|
|Mortgage Broker Main Office||364||347|
|Mortgage Broker Branch Office||201||193|
|Consumer Loan Main Office||924||812|
|Consumer Loan Branch Office||3,730||3,473|
|MLOs - Active||23,301||21,932|
|MLOs - Inactive||6,578||2,612|
Preparing for Renewals
With the start of summer, it might be strange to even mention renewals, but being prepared and acting early are keys to renewal success.
- NMLS sets the annual continuing education (CE) license item July 17 on MLO records for those who haven’t yet completed CE. Washington’s CE requirement is 9 hours of education, including 1 hour in WA law.
- MLO licensees and Designated Brokers will be required to submit a new criminal background check (CBC) and credit report in conjunction with a renewal request. These individuals should check to make sure their fingerprints on file with NMLS aren’t expired or won’t expire before the renewal period.
As a reminder, the renewal period in NMLS opens November 1.
Industry Work Session for MLO Home Offices Rulemaking
On June 30, the Department hosted an industry work session to discuss the current rulemaking under the Consumer Loan Act and Mortgage Broker Practices Act. These rules must be amended to implement amendments to both statutes allowing MLOs to work from their residence without the company licensing that residence.
The agenda and recording of the industry work session are on the Department’s rulemaking page.
Mortgage Industry Webinar
Presentation documents and a recording of the Department’s May Mortgage Industry Webinar are now available for review. You can access the materials on the Mortgage Industry Webinar page The next Mortgage Industry Webinar is scheduled for October 25.
Mortgage Broker Forum Updates
The twice-yearly Mortgage Broker Forum meeting was held virtually in April. The agenda covered the legislation allowing MLOs to work from home without the home being licensed and a brief Licensing and Examination unit update. The next meeting will be in October 2022.
For information on the Mortgage Broker Forum, contact Jeff Lorsch, 206-200-5363, or firstname.lastname@example.org
- July 17 - CE license item set on MLOs who aren’t 2022 CE compliant
- August 14- Q2 Mortgage Call Report (MCR) filing deadline
- November 1 - Renewal Period Opens