# 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?

> Washington · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_230

## Section

- **Citation:** WAC 208-620-230
- **Heading:** 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?
- **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 208-620-230

## Text

(1) Yes. If you do not qualify for an exemption under RCW 31.04.025 or 31.04.420 , you must hold a license to:
(a) Be located in Washington and lend money, extend credit, service or modify residential mortgage loans, or service student education loans;
(b) Be located outside Washington and lend money or extend credit to Washington residents, service or modify residential mortgage loans on Washington real estate, or service student education loans for Washington residents;
(c) From any location solicit or advertise by any means to Washington residents including but not limited to mail, brochure, telephone, print, radio, television, internet, or any other electronic means;
(d) From any location conduct business under the act with Washington residents by mail or internet;
(e) Hold yourself out as able to conduct any of the activities in (a) through (d) of this subsection.
(2) If you violate subsection (1) of this section, on nonresidential loans, you must refund to the borrower the interest and nonthird-party fees charged in the transaction. On residential mortgage loans, you must refund to the borrower nonthird-party fees charged in the transaction.
(3) See also WAC 208-620-232 for residential mortgage loans.

## 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)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_208_620_230. Check the current official text before relying on it. Not legal advice.