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
DESIGNATED BROKERS
Section 208-660-260 - Designated brokers - Testing

Wash. Admin. Code § 208-660-260

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Current through Register Vol. 24-23, December 1, 2024
Section 208-660-260 - Designated brokers - Testing
(1)Must I pass a test prior to becoming a designated broker? Yes. You must take and pass the Washington designated broker test. See subsection (3) of this section if you are going to originate loans. See WAC 208-660-250(1) if you have never been a designated broker.
(2)If I am currently a designated broker, will I have to take the test again? You will only have to retake the test if you stop working as a designated broker for five years or longer.
(3)If I am currently a designated broker that originates loans, will I have to take the loan originator test and obtain a loan originator license? Yes. You must take and pass the national and state NMLS tests and obtain the necessary prelicensing education prior to acting as a loan originator.
(4)Where can I get information about the designated broker test? Go to the department's web site for information about the designated broker test: http://www.dfi.wa.gov/cs/mb_testing.htm.
(5)What topics may be covered in the designated broker test? See WAC 208-660-600(3).
(6)How soon after failing the designated broker test may I take it again? After failing the test three consecutive times you must wait at least fourteen days before taking the test again.

Wash. Admin. Code § 208-660-260

Statutory Authority: Chapter 43.320 RCW and RCW 19.146.223. 12-18-048, § 208-660-260, filed 8/29/12, effective 11/1/12. Statutory Authority: RCW 43.320.040, 19.146.223, and 2009 c 528. 09-24-091, § 208-660-260, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040, 19.144.070, 2008 c 109. 09-01-156, § 208-660-260, filed 12/23/08, effective 1/23/09. Statutory Authority: RCW 43.320.040, 19.146.223. 08-05-126, § 208-660-260, filed 2/20/08, effective 3/22/08. Statutory Authority: RCW 43.320.040, 19.146.223, 2006 c 19. 06-23-137, § 208-660-260, filed 11/21/06, effective 1/1/07.