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A file reviewer is checking whether a Wisconsin process satisfies requirements for records, reports, and required notices. Which statement is accurate?

Correct Answer

A) Wisconsin DFI mortgage banking statutes and rules page identifies Wis. Stat. ch. 428 as the first-lien real estate loan statute source.

Wisconsin DFI mortgage banking statutes and rules page identifies Wis. Stat. ch. 428 as the first-lien real estate loan statute source.

Answer Options
A
Wisconsin DFI mortgage banking statutes and rules page identifies Wis. Stat. ch. 428 as the first-lien real estate loan statute source.
B
Continue the activity and document the issue only if a complaint is later filed.
C
Let the MLO originate while waiting for the Wisconsin status, sponsorship, or renewal issue to be corrected.
D
Let production staff decide whether records, reports, and required notices matters for the file.

Why This Is the Correct Answer

Wisconsin DFI mortgage banking statutes and rules page identifies Wis. Stat. ch. 428 as the first-lien real estate loan statute source.

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