Full text of Washington Revised Code of Washington § 19.146.200 — Mortgage broker or loan originator — License required — Suit or action for collection of compensation — Designated broker required., with citation guidance and answers to common questions.
§ 19.146.200. Mortgage broker or loan originator — License required — Suit or action for collection of compensation — Designated broker required.
(1) A person, unless specifically exempted from this chapter under RCW
19.146.020, may not engage in the business of a mortgage broker or loan originator without first obtaining and maintaining a license under this chapter.
(2) A person may not bring a suit or action for the collection of compensation in connection with a residential mortgage loan unless the plaintiff alleges and proves that he or she was a duly licensed mortgage broker, or exempt from the license requirement of this chapter, at the time of offering to perform or performing any such an act or service regulated by this chapter.
(3) Every licensed mortgage broker must at all times have a designated broker responsible for all activities of the mortgage broker in conducting the business of a mortgage broker. A designated broker, principal, or owner who has supervisory authority over a mortgage broker is responsible for a licensee's, employee's, or independent contractor's violations of this chapter and its rules if:
(a) The designated broker, principal, or owner directs or instructs the conduct or, with knowledge of the specific conduct, approves or allows the conduct; or
(b) The designated broker, principal, or owner who has supervisory authority over the licensed mortgage broker knows or by the exercise of reasonable care and inquiry should have known of the conduct, at a time when its consequences can be avoided or mitigated and fails to take reasonable remedial action.
Notes
Severability—1997 c 106: See note following RCW
19.146.010.
Effective dates—1993 c 468: "(1) Sections 2 through 4, 9, 13, and 21 through 23 of this act are necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately [May 17, 1993].
(2) Sections 6 through 8, 10, 18, and 19 of this act shall take effect September 1, 1993.
(3) Sections 1, 5, 11, 12, 14 through 17, and 20 of this act shall take effect October 31, 1993. However, the effective date of section 5 of this act may be delayed thirty days upon an order of the director of licensing under section 7(3) of this act." [
1993 c 468 s 26.] The director of licensing did not delay the effective date.
Adoption of rules—Severability—1993 c 468: See notes following RCW
19.146.0201.
Source: official Washington text · Last verified 2026-08-27
Frequently Asked Questions About Washington § 19.146.200
What does Revised Code of Washington § 19.146.200 cover?
Section 19.146.200 ("Mortgage broker or loan originator — License required — Suit or action for collection of compensation — Designated broker required.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Washington § 19.146.200?
A common citation format is "Revised Code of Washington § 19.146.200" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Washington law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.
How does Washington § 19.146.200 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Washington.
