Consumer Loan Companies
DFI has filed a CR-101 to implement amendments (Sec. 106 of S. 2155, Public Law No. 115-174) to the federal SAFE act (the federal law requiring the licensure of individual mortgage loan originators (MLOs). In addition, the department will consolidate rules relating to MLOs, currently found in both the Consumer Loan Act and the Mortgage Broker Practices Act (chapter 208-660 WAC), into a new chapter to assist licensees in finding and understanding the rules that apply to their licenses. Other amendments may include changes to the rules regulating student education loan servicers to reduce conflict with federal law or rules, and technical changes for clarity and consistency.
Please note these dates may change.
PLEASE NOTE THE COMMENT PERIOD IS OPEN UNTIL OCTOBER 11, 2019
- CR-101 - 7/3/19
- CR-102 - 8/21/19
- Hearing - 9/24/19
- CR-103 - 10/22/19
- Effective - 11/24/19
- Proposed Rule Amendments Draft Two
DFI has another draft of the proposed language for review. Please review and comment by October 11, 2019.
- Proposed Rule Amendments
Proposed amendments to the rules.
CR-102 filing document.
- Modified Rate Lock Agreement
Modified rate lock agreement form.
This filing with the code reviser puts the public on notice that a rulemaking has begun.