The Washington State Department of Financial Institutions, oversees the regulation of mortgage professionals in Washington.  All Washington mortgage licenses are handled through the National Mortgage Licensing System. Prelicensing requirements include approved courses that are 20 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus 12 or more hours of electives. This may be in addition to Washington-required content A minimum of eight hours per year of continuing education is required per year, per the SAFE act..  

The licensing fee for NMLS for Loan Originators is $194. The licensing fee for a broker is $1,001. Click on the links in the preceding sentences for more details about each license.

Those who want to become a Mortgage Broker in Washington are required to furnish a Surety Bond (between $20,000 and $60,000 as determined by the loan volume). In lieu of a Surety Bond, applicants may be approved to furnish an irrevocable letter of credit. Fingerprints also need to be provided, and these are submitted to the NMLS.

Once Mortgage Brokers are licensed in Washington they must maintain a physical presence in the state or within 30 miles of its borders. This requirement can be waived if the applicant has at least two years of experience, or meets the educational requirements and then passes a written examination.

The Washington Association of Mortgage Brokers (WAMB), maintains an affiliate relationship with the National Association of Mortgage Brokers (NAMB). The WAMB provides ongoing educational courses for those planning to become a Mortgage Broker in Washington.

Washington Mortgage Forms	Washington Reciprocity States
Most Mortgage forms can be obtained online. Ones listed below pertain to new salespersons and brokers. Mortgage Broker Application FAQs Surety Bond Form	N/A (as of 2/23/2010)
Washington Approved Mortgage Schools Prelicensing and Postlicensing Education
Community Colleges N/A	Private Schools Abacus Mortgage Training McKissock.com TheMortgageTrainingCenter.com Training Pro
Last Update:  2/22/2010 This list may not include all approved schools. Please visit the Department of Financial Institutions website for the latest list of approved schools.