State Licensing Requirements

Washington

Electronic filings through NMLS may be delayed if all required items on the appropriate checklist below are not submitted to the regulator.

Check state agency website for further information: Department of Financial Institutions

Common Requirements

The following requirements are handled through a common process for all jurisdictions:

Renewals - Annual license renewal for 2010

Financial Statements - Submitting financial statements through NMLS

Professional Requirements - Testing, education and background check requirements for individual Mortgage Loan Originators

Policy - Common policies, including the Policy Guidebook for Licensees

Company Licenses	Description	Requirements Checklist
Consumer Loan Company License	This License is required of any company (including sole proprietorship) engaged in the business of making secured or unsecured loans of money, credit, or things in action, to Washington residents. (More Details)	New Application Amendment Surrender
Mortgage Broker License	This License is required for of any company (including sole proprietorship) that for compensation or gain, or in the expectation of compensation or gain: (a) assists a person in obtaining or applying to obtain a residential mortgage loan or (b) holds itself out as being able to assist a person in obtaining or applying to obtain a residential mortgage loan. (More Details)	New Application Amendment Surrender
Exempt Mortgage Broker Registration (Voluntary)	Companies that fit the definition of “mortgage broker,” but may claim statutory exemption as a subsidiary or affiliate of a depository institution, such as a Credit Union Service Organization (CUSO). (More Details)	New Application Amendment Surrender
Exempt Consumer Loan Registration	This registration is available for any company that employs state-licensed mortgage loan originators but is not required to be licensed under the Washington Consumer Loan Act. This registration is optional and is intended for companies that wish to manage their mortgage loan originator in NMLS. Please consult the state regulator before applying for this registration. (More Details)	New Application
Branch Licenses	Description	Requirements Checklist
Consumer Loan Branch Office License	This License is required for each fixed physical location representing a licensed Consumer Loan Company. (More Details)	New Application Amendment Surrender
Mortgage Broker License (Branch)	This License is required for each fixed physical location representing a licensed Mortgage Broker company offering to originate mortgage loans for Washington residents or secured by Washington property. (More Details)	New Application Amendment Surrender
Individual Licenses	Description	Requirements Checklist
Designated Broker Registration	This registration is required for the individual at the licensed Mortgage Broker who is responsible for ensuring the company and its staff are in compliance with applicable state and federal requirements. This registration does NOT authorize the person to originate. (More Details)	New Application Amendment Surrender
Mortgage Loan Originator License	This License is required for: • Individuals originating loans for licensed Mortgage Brokers and Consumer Loan Companies • Independent contractor processors representing licensed or exempt Mortgage Brokers and Consumer Loan Companies • Individuals originating loans for a Credit Union Service Organizations (CUSOs) (More Details)	New Application Amendment Surrender