Statutes, codes, and regulations
Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)Chapter 208-660 - Mortgage brokers and loan originators-Licensing
DIRECTOR AND DEPARTMENT POWERS
Section 208-660-550 - Department fees and costs

Wash. Admin. Code § 208-660-550

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Current through Register Vol. 24-21, November 1, 2024
Section 208-660-550 - Department fees and costs
(1)Mortgage broker licenses.

Mortgage broker - license application fee

$371.00

Mortgage broker - annual assessment (due upon initial licensing, then an annual renewal fee, per location)

$530.00

Mortgage broker late renewal assessment (fifty percent of annual assessment)

$265.00

Mortgage broker branch office - license application fee

$185.00

Mortgage broker branch office - annual assessment (annual renewal fee, per location)

$530.00

Mortgage broker - license amendment

No fee

Mortgage broker - change of designated broker

$25.00

(2)Loan originator licenses.

Loan originator - license application fee

$125.00

Loan originator - annual assessment (not due until first renewal; then an annual renewal fee)

$125.00

Loan originator late renewal assessment (fifty percent of annual assessment)

$62.50

Loan originator - cancel association with any mortgage broker

No fee

Loan originator - license amendment - add a mortgage broker relationship

$50.00

Loan originator - license amendment - other

No fee

(3)Examinations.
(a) In Washington. The department does not charge a licensee located in Washington for the costs of an examination unless the examination is a referral from enforcement. See WAC 208-660-510(8).
(b) Outside of Washington. The department will charge the licensee for travel costs.
(c) If the department hires professionals, specialists, or both to examine an out-of-state licensee, the professional, specialist, or both will be considered examiners for the purpose of billing the licensee for travel costs.
(4)Investigations.
(a) The department will charge forty-eight dollars per hour for an examiner's time devoted to an investigation.
(b) The department will bill the licensee for the costs of services from attorneys, accountants, or other professionals or specialists retained by the director to aid in the investigation.
(5)Travel costs. If the mortgage business is out-of-state, the department will charge the business the travel costs associated with an examination or investigation. Travel costs include, but are not limited to, transportation costs (airfare, rental cars), meals, and lodging.
(6)How is the annual assessment calculated? The assessment is a flat rate per license.
(7)How does the department use license application fees? The fees collected by the department are used to pay the costs of administering the act.

Wash. Admin. Code § 208-660-550

Statutory Authority: RCW 43.320.040, 19.146.223, and 2009 c 528. 09-24-091, § 208-660-550, filed 12/1/09, effective 1/1/10. Statutory Authority: Chapters 43.320, 19.146 RCW. 08-14-114, § 208-660-550, filed 6/30/08, effective 7/31/08. Statutory Authority: RCW 43.320.040, 19.146.223. 08-05-126, § 208-660-550, filed 2/20/08, effective 3/22/08. Statutory Authority: RCW 43.320.040, 19.146.223, 2006 c 19. 06-23-137, § 208-660-550, filed 11/21/06, effective 1/1/07.