Revised Code of Washington

Wash. Rev. Code § 19.146.060 (2026)

Accounting requirements

✓ current as of May 2026

Find cases: SyfertCases citing this section WA-LEGapp.leg.wa.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

(1) A mortgage broker shall use generally accepted accounting principles.

(2) Except as otherwise provided in subsection (3) of this section, a mortgage broker shall maintain accurate and current books and records which shall be readily available at a location available to the director until at least three years have elapsed following the effective period to which the books and records relate.

(3) Where a mortgage broker's usual business location is outside of the state of Washington, the mortgage broker shall, as determined by the director by rule, either maintain its books and records at a location in this state, or reimburse the director for his or her expenses, including but not limited to transportation, food, and lodging expenses, relating to any examination or investigation resulting under this chapter.

(4) "Books and records" includes but is not limited to:

(a) Copies of all advertisements placed by or at the request of the mortgage broker which mention rates or fees. In the case of radio or television advertisements, or advertisements placed on a telephonic information line or other electronic source of information including but not limited to a computer database or electronic bulletin board, a mortgage broker shall keep copies of the precise script for the advertisement. All advertisement records shall include for each advertisement the date or dates of publication and name of each periodical, broadcast station, or telephone information line which published the advertisement or, in the case of a flyer or other material distributed by the mortgage broker, the dates, methods, and areas of distribution; and

(b) Copies of all documents, notes, computer records if not stored in printed form, correspondence or memoranda relating to a borrower from whom the mortgage broker has accepted a deposit or other funds, or accepted a residential mortgage loan application or with whom the mortgage broker has entered into an agreement to assist in obtaining a residential mortgage loan.

[ 2013 c 30 s 4; 2006 c 19 s 7; 1997 c 106 s 6; 1994 c 33 s 20; 1987 c 391 s 8.]

Notes:

Severability—1997 c 106: See note following RCW 19.146.010.

Notes of Decisions

Cited in 4 cases, 1999–2006 · leading case: State v. WWJ Corp., 980 P.2d 1257 (Wash. 1999).

Sort: Relevance Newest Treatment

State v. WWJ Corp., 980 P.2d 1257 (Wash. 1999). “Of the 250 violations, one involved Johnson's failure to maintain business records in accordance with RCW 19.146.060, and the other 249 involved the following statute: A mortgage broker shall deposit, prior to the end of the next business day, all moneys received from borrowers…”

State v. WWJ Corp., 138 Wash. 2d 595 (Wash. 1999). “Of the 250 violations, one involved Johnson’s failure to maintain business records in accordance with RCW 19.146.060, and the other 249 involved the following statute: *599 A mortgage broker shall deposit, prior to the end of the next business day, all moneys received from…”

Nationscapital Mortg. Corp. v. Dep't of Fin. Institutions, 133 Wash. App. 723 (Wash. Ct. App. 2006). “RCW 19.146.060(3). Willis revealed that unlicensed brokers solicited and processed most, if not all, loans, also contrary to state law.”

Nationscapital Mortg. Corp. v. STATE, DFI, 137 P.3d 78 (Wash. Ct. App. 2006). “RCW 19.146.060(3). Willis revealed that unlicensed brokers solicited and processed most, if not all, loans, also contrary to state law.”

— Wash. Rev. Code § 19.146.060(3) — 2 cases

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.