2012 Revised Code of Washington
Title 31 - MISCELLANEOUS LOAN AGENCIES
31.04 Consumer loan act.
31.04.224 Licensing exemptions -- Residential mortgage loans.
RCW 31.04.224 Licensing exemptions — Residential mortgage loans.
The following are exempt from licensing as mortgage loan originators under this chapter:
(1) Registered mortgage loan originators, or any individual required to be registered;
(2) A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of a lender, mortgage broker, or other mortgage loan originator;
(3) Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member; or
(4) Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence.
[2012 c 17 § 6; 2009 c 120 § 11.]
Notes:
| Findings -- Declaration -- 2009 c 120: See note following RCW 31.04.015.
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