On August 10, the Washington Department of Financial Institutions (DFI) issued a consent order requiring a company to pay a $75,000 fine and cease and desist from violations of the Washington Consumer Loan Act (CLA) after finding that the company acted as an unlicensed third-party loan processor and/or underwriter for at least 1,803 residential mortgage loans secured by real property in Washington. According to the consent order, the company performed processing and/or underwriting activities between approximately December 2023 and July 2025 without first obtaining a consumer loan company license from DFI or qualifying for an applicable exemption.

The DFI concluded that the company violated several provisions of the CLA and its implementing rules, as well as the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which requires state licensing for loan processors and underwriters. The company admitted the findings and agreed to pay the fine in three installments, along with an investigation fee of $2,815.60. The consent order noted that it does not preclude the company from continuing to pursue, or from obtaining, a mortgage broker license for third-party processing activities, but clarified that it would need a consumer loan company license to conduct underwriting activities in Washington.