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A Wisconsin policy analyst is reviewing a renewal checklist tied to licensing and NMLS authority. Which rule should be applied?

Correct Answer

A) 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
Wisconsin DFI says a Mortgage Banker License is required of anyone who originates, sells, services, or provides escrow services for residential mortgage loans.
B
Proceed before the required Wisconsin license, sponsorship, disclosure, record, or approval is in place.
C
Use an informal manager exception without updating the license, file, or required record.
D
Use a verbal explanation instead of the required license status, disclosure, record, or filing.

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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