Loan Processors Faq’s

Loan Processors Faq’s

See below for DFI’s responses to concerns frequently inquired about Loan Processors.

We act as a Loan Processor. Must i’ve that Loan Originator or large financial company license at the time of January 1, 2007?

  1. You simply will not need to be certified with DFI beneath the following scenarios:
    1. You will be an employee that is w2 Processor for an authorized home loan broker(s). Generally speaking, you need to work from an authorized location (primary or branch workplace). See WAC 208-660-300(14) to find out more.
    2. You will be A w2 employee loan Processor for a financial loan processing business which have a home loan broker permit. Generally speaking, you have to work from the location that is licensed. See WAC 208-660-300(14) to find out more.
  2. You really must have a permit with DFI underneath the after situations:
    1. You really must have a loan originator license if you are a completely independent contractor Loan Processor ( get a 1099) for the licensed large financial company. You have to work from a location that is licensed the mortgage broker license. Continue reading “Loan Processors Faq’s”