Washington State has a couple of regulations that require certain safety features are installed in a home before a buyer can purchase it. When these items are not installed in the home at the time of the appraisal, or if the appraiser cannot easily find them, then the appraiser or underwriter will require that these items be installed prior to closing. This can potentially delay the closing and/or increase cost if the appraiser has to go back to the property to re-inspect for the missing items.
Do you own a rental property in Seattle? Read this!
May 21, 2015 by 3 Comments
Editor’s note: This post has been updated with current RRIO fees, renewal cycle, and inspection requirements, as these have changed materially since 2015.
If you own rental property in Seattle, you’re required to register it with the City through the Rental Registration and Inspection Ordinance (RRIO) — and I still talk to landlords, including clients with just one rental home, who have no idea this applies to them. Here’s what the program actually requires today. [Read more…]
Hello World, I’m 510-LO-32047
January 26, 2007 by Leave a Comment
Yep. This afternoon, I finally received my Loan Originator License. I guess I can stop checking the DFI site to see if I’m official. So, now I’m trying to update my websites, blog sites, business card, letterhead, all of my letter templates…it’s a bit of work and hopefully worth it.
The next step, in order for me to retain my new bright and shiny license will be to pass the exam that is supposed to be available later this year.
This is part of the reason I wish we just had ID cards, certificates or maybe a badge to wear. What’s going to happen to the poor loan originators who do not pass the exam (we get 3 attempts at $125 a test and then have to wait two weeks before taking another test for another $125) and have spent their time and money over the last few months updating all of their marketing just to have the number revoked?
I know, “play me a fiddle”…there’s not a lot of sympathy for any loan originator these days. I’m sorry, this number displayed on everything that we have our name to just doesn’t sit well with me. And bottom line, it will still be up to the consumer to verify that the license is active. Having the license number plastered everywhere does not guarantee a Loan Originator is a legit mortgage broker.
Enough grumbling for tonight!
UPDATE: Loan Officer license numbers (for those of us who are licensed) have changed. My NMLS License number is MLO-121324.
