The Washington Department of Financial Institutions (Department) issued a Department Letter temporarily waiving examination and assessment fees under the Consumer Loan Act. Per the Department Letter, the Department waived the annual assessment on the following categories of loans for calendar year 2019: residential mortgage loans brokered in 2019; residential mortgage loans purchased in 2019; and residential mortgage loans in portfolio as of December 31, 2018. Residential mortgage loans made during the 2019 calendar year will continue to be assessed. The Department also waived the hourly examination fee charged for a consumer loan company examination for the period July 1, 2019 through June 30, 2020. However, lenders and servicers are still required to pay the travel expenses incurred by the Department in connection with an examination. In addition, the Department reduced the mortgage loan originator license renewal fee for the 2020 calendar year. The renewal fee is reduced from $155 to $75.
See Washington State Department of Financial Institutions website for the full text of the Department Letter:https://dfi.wa.gov/sites/default/files/letter-cl-licensees.pdf
