Newly licensed in Washington and came across a requirement that mandates that third party fees collected from a consumer for appraisal, credit report, etc. must be placed in a segregated account in Washington. Would depositing these funds in a national bank statisfy this requirement?

We typcially maintain all such funds centrally here at corporate which isn't located in Washington so hoping that the depositing of the funds at BofA or Chase would meet this requirement since these banks do business in Washington.

National banks are OK. The main issue is that the borrower funds must be held in an escrow account segregated from your operating accounts.