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MORTGAGE BROKERS IN SEATTLE BLOG

THE MORTGAGE LAW SEATTLE
Saturday, January 15 2022

1 Sec. 9. RCW 19.146.300 and 2006 c 19 s 19


are each amended to read
2 as follows:
3 (1) Application for a loan originator license under this chapter
4 ((shall)) must be ((in writing)) made to the nationwide mortgage
5 licensing system and registry and in the form prescribed by the
6 director. The application shall contain at least the following
7 information:
8 (a) The name, address, date of birth, and social security number of
9 the loan originator applicant, and any other names, dates of birth, or
10 social security numbers previously used by the loan originator
11 applicant, unless waived by the director; and
12 (b) Such other information regarding the loan originator
13 applicant's background, experience, character, and general fitness as
14 the director may require by rule.
15 (2)(a) As part of or in connection with an application for any
16 license under this section, or periodically upon license renewal, the
17 loan originator applicant shall furnish information concerning his or
18 her identity, including fingerprints for submission to the Washington
19 state patrol, the federal bureau of investigation, ((and)) the
20 nationwide mortgage licensing system and registry, or any governmental
21 agency or entity authorized to receive this information for a state and
22 national criminal history background check; personal history;
23 experience; business record; purposes; and other pertinent facts, as
24 the director may reasonably require. As part of or in connection with
25 an application for a license under this chapter, or periodically upon
26 license renewal, the director is authorized to receive criminal history
27 record information that includes nonconviction data as defined in RCW
28 10.97.030. The department may only disseminate nonconviction data
29 obtained under this section to criminal justice agencies. This section
30 does not apply to financial institutions regulated under chapters 31.12
31 and 31.13 RCW and Titles 30, 32, and 33 RCW.
32 (b) In order to reduce the points of contact which the federal
33 bureau of investigation may have to maintain, the director may use the
34 nationwide mortgage licensing system and registry as a channeling agent
35 for requesting information from and distributing information to the
36 department of justice or any governmental agency.
37 (c) In order to reduce the points of contact which the director may
38 have to maintain, the director may use the nationwide mortgage
p. 19 SHB 1749.SL

1 licensing system and registry as a channeling agent for requesting and
2 distributing information to and from any source so directed by the
3 director.
4 (d) As part of or in connection with an application for a license
5 under this section, the loan originator applicant must furnish to the
6 nationwide mortgage licensing system and registry personal history and
7 experience in a form prescribed by the nationwide mortgage licensing
8 system and registry, including the submission of authorization for the
9 nationwide mortgage licensing system and registry and the director to
10 obtain:
11 (i) An independent credit report obtained from a consumer reporting
12 agency described in section 603(p) of the federal fair credit reporting
13 act; and
14 (ii) Information related to any administrative, civil, or criminal
15 findings by any governmental jurisdiction.
16 (3) At the time of filing an application for a license under this
17 chapter, each loan originator applicant shall pay to the director the
18 appropriate application fee in an amount determined by rule of the
19 director in accordance with RCW 19.146.228 to cover the cost of
20 processing and reviewing the application. The director shall deposit
21 the moneys in the financial services regulation fund.
22 (4) The director must establish by rule procedures for accepting
23 and processing incomplete applications.
24 Sec. 10. RCW 19.146.310 and 2006

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