Go to: Please follow these Registration Instructions for the state required exam http://www.dfi.wa.gov/cs/pdf/registration_instructions.pdf from Promissor.

Once you complete your exam, go to: http://www.dfi.wa.gov/cs/loan_originator.htm for your Washington LO License application. Follow the instructions and send us the original signed and notarized MU4 form along with the Finger Print cards (2).

Branch Licensing

We will complete the Branch License application.

We will need a check request for $185.00 for your Branch license application.

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Initial Disclosures

Facts About Construction Liens

State of Washington Rate Lock Agreement/Disclosure

Washington Anti-Discrimination Notice

Washington Derecho A Elegir Proveedor De Seguros

Washington Document Preparation Disclosure

Washington Hazard Insurance Disclosure

Washington Notice of Choice of Agent and Insurer

Washington Oral Agreement Notice WA Rev. Code Sections 19.36.100 - 19.36.900

Washington Required Disclosures

Washington Waiver of Right to Appraisal

Final Disclosures

Coming Soon

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Refer to Section 32 under Federal Requirements

No loans permitted over 12% APR.

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Not permitted on 2nd mortgages.

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Permitted Fees

Washington will allow the following fees with state-specific limitation: bona-fide discount fees (included in origination tier on 2nds), Origination Fees (tiered on 2nds), Third Party Fees (in the exact amount billed for services rendered and excluding credit report), filing and recording fees, title insurance fee (no other title fees allowed).

Prohibited Fees

Doc Prep

Late Charge Fees

Maximum 10% of principal and interest after 10 days.

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Funding Settlement

Dry State

Borrower Signing Requirements

Community Property and Homestead state, spouse to sign security documents.

Closing Customs

Coming Soon

Real Estate Taxes

Taxes are due April 1st and October 1st.
Taxes are delinquent April 30th and November 2nd.

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Advertising Record Retention

Coming Soon

Advertising Representation

Coming Soon

Telemarketing

Oral agreements are unenforceable under Washington State Law.

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Disclaimer:
This information is tailored for DirectLender. It is deemed reliable but not guaranteed. It is not intended as legal advice, and should not be relied upon as such. The laws, policies, and references cited change periodically.