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A sponsorship reviewer handling a Wisconsin branch onboarding review needs the compliant answer for licensing and NMLS authority. What should the reviewer choose?

Correct Answer

C) Wisconsin DFI says a Mortgage Banker License is required of anyone who originates, sells, services, or provides escrow services for residential mortgage loans.

Wisconsin DFI says a Mortgage Banker License is required of anyone who originates, sells, services, or provides escrow services for residential mortgage loans.

Answer Options
A
Assume the Wisconsin requirement does not apply to this supervisory file review.
B
Treat sponsorship and employment status as satisfied by borrower consent alone.
C
Wisconsin DFI says a Mortgage Banker License is required of anyone who originates, sells, services, or provides escrow services for residential mortgage loans.
D
Delay the Wisconsin requirement until after the loan closes or the renewal period ends.

Why This Is the Correct Answer

Wisconsin DFI says a Mortgage Banker License is required of anyone who originates, sells, services, or provides escrow services for residential mortgage loans.

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