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 Mortgage Broker Practices Act and Consumer Loan Act (chapter 208-620 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 trust accounts to reduce conflict with other state laws, 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
Proposed amendments to the rule.
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.
Audio from Rulemaking Hearings
- Comments from Washington Association of Mortgage Professionals
- Comments from Deb Dickason
- Comments from Jeffrey Lorsch dated October 09
- Comments from Jeffrey Lorsch dated September 23
- Comments from Washington Mortgage Bankers Association
- Comments from Nicole Christy
- Comments from Jase Stefanski
- Comments from Jillayne Schlicke
- Comments from Bob Niemi dated August 26, 2019