Washington Mortgage Broker License & Consumer Loan Company License
Washington offers two different license types a Mortgage Broker License and a Consumer Loan Company (CLL) License. The Broker license only covers brokering activity whereas the CLL covers Brokering, Lending and Servicing activity.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| Washington | Mortgage Broker License | $1,021 | $150 | $261 | Call for More Information | $1,432 |
| Washington | Consumer Loan Company License | $1,183 | $750 | $261 | Call for More Information | $2,194 |
License: Mortgage Broker License
- Operating Status: Broker
- Bond Amount: $20,000
- Net Worth: N/A
- Brick & Mortar: No
- Financial Type: N/A
Sample our License Ready program through our interactive United States Map!
Mortgage Broker License
A named QI that holds a WA Designated Broker registration and a WA MLO License. To qualify for to be a Designated Broker you must have at minimum 2 out of the last 5 years of experience, graduate high school or equivalent and pass the WA Broker Exam prior to applying. This registration is a non-originating registration. You will need to obtain a bond in the amount of $20K.
License: Consumer Loan Company License
- Operating Status: Broker/Lender/Servicer
- Bond Amount: $30,000
- Net Worth: N/A
- Brick & Mortar: No
- Financial Type: Unaudited (most recent quarter end)
Run our License Calculator to estimate licensing costs with all 50 states!
Consumer Loan License (CLL)
There is no QI requirement but an approved WA MLO must be on staff, if brokering and/or lending. For only lenders you will need to provide a copy of each warehouse agreement or verification letter. You will need to have a clear set of consumer complaint policies in place as well as maintain a toll free phone number. Unaudited financial statement from your most recent quarter end and bond in the amount of $30K is required. The CLL also has an annual assessment due every March. This assessment fee is your total volume in WA multiplied by 0.0008.
For more information or to speak to a representative for your state
call us today at 866-576-7726
**Fees & terms are subject to change without notice.**
Obtaining a mortgage broker license in Washington requires a thorough understanding of the state’s licensing process and compliance requirements. Washington offers two main licensing options: the Mortgage Broker License, designed for professionals focused solely on brokering mortgage loans, and the Consumer Loan Company (CLL) License, which authorizes mortgage brokering, lending, and servicing.
All mortgage broker applicants must secure a surety bond, with the amount determined by the license type. While Washington does not require a minimum net worth or a physical office in the state, applicants for the Mortgage Broker License must appoint a Designated Broker. This individual must have at least two years of verified mortgage industry experience and successfully pass the Washington Designated Broker Test. The Designated Broker Test is notoriously difficult, and a tester can expect to have to take it more than once.
These regulations ensure that every licensed mortgage broker in Washington meets high professional standards, protecting consumers and maintaining trust in the industry. By understanding the state’s licensing structure and preparing all necessary documentation in advance, mortgage brokers can streamline the application process and position themselves for long-term success in Washington’s competitive real estate market.