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 while actively employed by a covered financial institution as defined in regulation G, 12 C.F.R. Part 1007.102; (2) An attorney licensed in Washington 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.
‹ Prev All Washington sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.