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A compliance analyst is reviewing Wisconsin source material on records, reports, and required notices. Which statement should be retained?

Correct Answer

B) Wisconsin DFI identifies Wisconsin Administrative Code DFI-Bkg 40 to 46 as the mortgage banking rule source.

Wisconsin DFI identifies Wisconsin Administrative Code DFI-Bkg 40 to 46 as the mortgage banking rule source.

Answer Options
A
Use only the federal baseline and ignore the separate Wisconsin state requirement.
B
Wisconsin DFI identifies Wisconsin Administrative Code DFI-Bkg 40 to 46 as the mortgage banking rule source.
C
Apply the rule only after the Wisconsin regulator has already opened an examination.
D
Skip the Wisconsin requirement because the company already follows general SAFE Act procedures.

Why This Is the Correct Answer

Wisconsin DFI identifies Wisconsin Administrative Code DFI-Bkg 40 to 46 as the mortgage banking rule source.

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