An individual engaging solely in *loan processor activities, who does not represent to the public, through advertising or other means of communicating or providing information including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that such an individual can or will perform any of the activities of a mortgage loan originator is not required to obtain and maintain a mortgage loan originator license under this chapter.

NOTES:

*Reviser’s note: The term “loan processor” was changed to “loan processor or underwriter” by 2013 c 29 § 1.
FindingsDeclaration2009 c 120: See note following RCW 31.04.015.

Terms Used In Washington Code 31.04.231

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC