A Washington file reviewer reviews a renewal calendar about Washington mortgage broker loan originator provide full before submission. Which answer is best supported?
Correct Answer
D) A Washington mortgage broker or loan originator must provide full written disclosure of required fees and costs within 3 business days after receiving a loan application.
A Washington mortgage broker or loan originator must provide full written disclosure of required fees and costs within 3 business days after receiving a loan application.
Why This Is the Correct Answer
A Washington mortgage broker or loan originator must provide full written disclosure of required fees and costs within 3 business days after receiving a loan application.
Why the Other Options Are Wrong
Option A: Use an informal manager exception without updating the license, file, or required record.
Use an informal manager exception without updating the license, file, or required record. is not correct because the governing rule requires the compliant answer shown in the explanation.
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 state-law refresher exception instead of satisfying the rule before activity continues.
Use a state-law refresher exception instead of satisfying the rule before activity continues. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
WA -> wa-prohibited-practices-disclosures-and-compensation
Exam Tip
Washington prohibited-practice questions often test timing, borrower compensation, document blanks, appraiser pressure, or misleading advertising.
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
More UST Questions
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