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.
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.
Why the Other Options Are Wrong
Option B: Use a verbal explanation instead of the required license status, disclosure, record, or filing.
Use a verbal explanation instead of the required license status, disclosure, record, or filing. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Use a annual compliance meeting exception instead of satisfying the rule before activity continues.
Use a annual compliance meeting exception instead of satisfying the rule before activity continues. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Close or renew first, then decide whether the annual compliance meeting needs a compliance correction.
Close or renew first, then decide whether the annual compliance meeting needs a compliance correction. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
WA -> wa-remote-advertising-records-and-identifier
Exam Tip
Washington remote work is allowed, but the residence cannot become an unlicensed public branch or customer-record storage site.
Common Mistakes to Avoid
- -Using a national baseline answer when Washington has a state-specific rule
- -Confusing DFI guidance, RCW requirements, and WAC implementation details
- -Treating temporary authority, remote work, or exemptions as blanket permission
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