Finance
Washington's Mortgage Broker Practices Act (RCW 19.146) regulates mortgage brokers who:
AOnly fund their own loan products
BAct as intermediaries between borrowers and lenders without using their own funds to make loans✓ Correct
COnly work with commercial properties
DAre regulated solely by federal CFPB rules
Explanation
RCW 19.146 regulates mortgage brokers — entities that arrange loans between borrowers and third-party lenders without lending their own funds. They must be licensed by the Washington DFI and comply with state mortgage broker regulations.
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