# WAC 208-620-104: WAC 208-620-104. Who is exempt from licensing as a consumer loan company? > Washington · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_104 ## Section - **Citation:** WAC 208-620-104 - **Heading:** WAC 208-620-104. Who is exempt from licensing as a consumer loan company? - **Jurisdiction:** Washington - **Kind:** Regulations - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Washington Administrative Code / Title 208 / Chapter 208-620 / Section 208-620-104 ## Text (1) See RCW 31.04.025 (2)(a), (b), (d), (g) through (i), and (k) through (m). (2) Under RCW 31.04.025 (2)(c), entities conducting transactions under chapter 63.14 RCW (Retail installment sales of goods and services); however, the entity is not exempt if the transactions are an extension of credit to purchase merchandise certificates, coupons, open or closed loop stored value, or any other item issued and redeemable by a retail seller other than the entity extending the credit. (3) Under RCW 31.04.025 (2)(e), any person making a loan primarily for business, commercial, or agricultural purposes unless the loan is secured by a lien on the borrower's primary dwelling. (4) Under RCW 31.04.025 (2)(f), a person selling property they own, that does not contain a dwelling, when the property serves as security for the financing. The exemption is not available to individuals subject to the federal S.A.F.E. Act or any person in the business of constructing or acting as a contractor for the construction of residential dwellings. See also WAC 208-620-232 . (5) Under RCW 31.04.025 (2)(j), a nonprofit housing organization seeking exemption must meet the following standards: (a) Has the status of a tax-exempt organization under Section 501 (c)(3) of the Internal Revenue Code of 1986; (b) Promotes affordable housing or provides home ownership education, or similar services; (c) Conducts its activities in a manner that serves public or charitable purposes, rather than commercial purposes; (d) Receives funding and revenue and charges fees in a manner that does not incentivize it or its employees to act other than in the best interests of its clients; (e) Compensates its employees in a manner that does not incentivize employees to act other than in the best interests of its clients; (f) Provides or identifies for the borrower residential mortgage loans with terms favorable to the borrower and comparable to mortgage loans and housing assistance provided under government housing assistance programs; and than in the best interests of its clients; (e) Compensates its employees in a manner that does not incentivize employees to act other than in the best interests of its clients; (f) Provides or identifies for the borrower residential mortgage loans with terms favorable to the borrower and comparable to mortgage loans and housing assistance provided under government housing assistance programs; and (g) Meets other standards as prescribed by the director. (6) Under RCW 31.04.025 (3), individuals who make loans or extend credit, secured or unsecured, to immediate family members. (7) Under RCW 31.04.025 (3), individuals who extend credit on the sale of their primary dwelling. (8) Investors. See WAC 208-620-011 (5). (9) Note buyers. See WAC 208-620-011 (5). (10) Under RCW 31.04.420 : (a) Trade, technical, vocational, or apprentice programs that teach skills related to a specific job, and postsecondary schools that service their own student education loans; (b) Persons servicing five or fewer student education loans; (c) Guarantors of federal student loans that do not also service federal student loans; (d) The United States or any department or agency thereof, to the extent it is servicing student education loans that it originated; (e) Any state, county, city, or any department or agency thereof, but only to the extent it is servicing student education loans that it originated; and (f) Persons providing third-party student education loan modification services. See RCW 31.04.015 (38). ## Nearby sections - [WAC 208-620-010 WAC 208-620-010. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_010.md) - [WAC 208-620-011 WAC 208-620-011. How does the department interpret certain definitions in RCW 31.04.015 ?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_011.md) - [WAC 208-620-104 WAC 208-620-104. Who is exempt from licensing as a consumer loan company?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_104.md) - [WAC 208-620-105 WAC 208-620-105. Who is exempt from licensing as a mortgage loan originator under this act?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_105.md) - [WAC 208-620-230 WAC 208-620-230. Do I need a consumer loan license to lend money, extend credit, service or modify the terms of residential mortgage loans, or service student education loans?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_230.md) - [WAC 208-620-231 WAC 208-620-231. Who must have a consumer loan license to service residential mortgage loans secured by Washington residential real estate or obligating Washington residents?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_231.md) - [WAC 208-620-232 WAC 208-620-232. Can I make a small number of residential mortgage loans without being licensed at the company level?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_232.md) - [WAC 208-620-234 WAC 208-620-234. Must a company that provides loan processing or underwriting services on residential mortgage loans be licensed under the Consumer Loan Act?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_234.md) - [WAC 208-620-235 WAC 208-620-235. When making loans, is there a maximum rate of interest allowed under the act?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_235.md) - [WAC 208-620-250 WAC 208-620-250. Is my company required to have a licensed location in the state of Washington?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_250.md) - [WAC 208-620-251 WAC 208-620-251. Are there any additional requirements for out-of-state licensees?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_251.md) - [WAC 208-620-260 WAC 208-620-260. If I am licensed under the Consumer Loan Act, can I broker residential mortgage loans in the state of Washington?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_260.md) - [WAC 208-620-271 WAC 208-620-271. Do I need a license to assist a homeowner with a residential mortgage loan modification?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_271.md) - [WAC 208-620-280 WAC 208-620-280. How do I apply for a consumer loan license?](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_280.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_104. Check the current official text before relying on it. Not legal advice.