Regulators also claimed that WCL accepted at least one mortgage application for a Washington property before securing its state consumer loan license, and that at least six managers supervising Washington-licensed mortgage loan officers were not licensed by the state. In addition, the regulators said WCL “failed to prepare and maintain” at least 34 required supervisory plans. The department claimed that WCL failed to maintain required surety bond coverage in 2023 and 2024 and did not submit timely annual reports for 2022 and 2023. WCL also allegedly failed to submit a timely financial condition report for 2022 and filed inaccurate annual reports for both years. The department said its investigation into alleged violations by WCL was ongoing at the time of the September 2025 statement of charges.