A Washington real estate broker charges a fee in 2026 for supplying rate and lender information from a CLI system. Assuming the broker follows the director’s CLI rules and only provides information, what borrower disclosure is required for the exemption?
Correct Answer
D) Exempt where the borrower is told they must deal with a broker or lender
A real estate broker who provides only information about rates, terms and lenders in connection with a CLI system, receives a fee for it, conforms to the director rules on providing the service, and discloses on a form approved by the director that to obtain a loan the borrower must deal directly with a mortgage broker or lender, is exempt. Other choices: the fee is contemplated by the exemption; supplying it free is not the condition; and a license would make the exemption unnecessary. Source: RCW 19.146.020(1)(g)
Why This Is the Correct Answer
A real estate broker who provides only information about rates, terms and lenders in connection with a CLI system, receives a fee for it, conforms to the director rules on providing the service, and discloses on a form approved by the director that to obtain a loan the borrower must deal directly with a mortgage broker or lender, is exempt. Other choices: the fee is contemplated by the exemption; supplying it free is not the condition; and a license would make the exemption unnecessary. Source: RCW 19.146.020(1)(g)
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