19.146.290 - Licensee to provide director with annual report of mortgage broker activity. - Washington Statutes

Licensee to provide director with annual report of mortgage broker activity.

(1) A licensee shall provide the director with an annual report of mortgage broker activity. The director may by rule create a schedule and format for the annual report. The annual report may only include the following for mortgage broker activities in Washington state:

     (a) The total number of closed loans originated by the mortgage broker; and

     (b) The total dollar volume of closed loans originated by the mortgage broker.

     (2) Any information provided by a mortgage broker in an annual report that constitutes a trade secret as defined in RCW 19.108.010 is exempt from the disclosure requirements in chapters *42.17 and 42.56 RCW, unless aggregated with information supplied by other mortgage brokers in such a manner that the mortgage broker's individual information is not identifiable. Any information provided by the mortgage broker that allows identification of the mortgage broker may only be used for purposes reasonably related to the regulation of mortgage brokers to ensure compliance with this chapter.

[2006 c 19 § 18.]

Notes: *Reviser's note: Provisions in chapter 42.17 RCW relating to public disclosure were recodified in chapter 42.56 RCW by 2005 c 274.