A Washington designated broker approves an originator practice in 2026 knowing exactly what is being done. If the approved practice violates the chapter, can knowing approval establish supervisory responsibility?
Correct Answer
D) Responsible: directing or knowingly approving the conduct suffices
A designated broker, principal or owner with supervisory authority is responsible for a licensee, employee or independent contractor violation where they direct or instruct the conduct, or with knowledge of the specific conduct approve or allow it. Other choices: separate licensing does not remove supervisory responsibility; profit is not an element; and a later correction does not undo the approval. Source: RCW 19.146.200(3)(a)
Why This Is the Correct Answer
A designated broker, principal or owner with supervisory authority is responsible for a licensee, employee or independent contractor violation where they direct or instruct the conduct, or with knowledge of the specific conduct approve or allow it. Other choices: separate licensing does not remove supervisory responsibility; profit is not an element; and a later correction does not undo the approval. Source: RCW 19.146.200(3)(a)
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A complete New York mortgage broker registration application is filed on March 2, 2026. Within what period must the superintendent approve or deny the complete application?
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A Georgia examination in 2026 finds an originator journal months out of date with entries missing throughout. What licensing and monetary consequences may follow the widespread journal failures?