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A Washington file is paused during a remote-work procedure because of licensing and NMLS authority. Which statement clears the compliance question?

Correct Answer

A) DFI loan processor guidance says loan files must reside at a licensed location and the originating mortgage broker must keep the file for a minimum of 25 months.

DFI loan processor guidance says loan files must reside at a licensed location and the originating mortgage broker must keep the file for a minimum of 25 months.

Answer Options
A
DFI loan processor guidance says loan files must reside at a licensed location and the originating mortgage broker must keep the file for a minimum of 25 months.
B
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
C
Use a annual compliance meeting exception instead of satisfying the rule before activity continues.
D
Close or renew first, then decide whether the annual compliance meeting needs a compliance correction.

Why This Is the Correct Answer

DFI loan processor guidance says loan files must reside at a licensed location and the originating mortgage broker must keep the file for a minimum of 25 months.

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