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Before approving the record-retention audit, a Wisconsin sponsorship reviewer checks records, reports, and required notices. Which conclusion is best supported?

Correct Answer

D) 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
Treat sponsorship and employment status as satisfied by borrower consent alone.
B
Delay the Wisconsin requirement until after the loan closes or the renewal period ends.
C
Treat consumer consent as a cure for a prohibited or missing compliance step.
D
Wisconsin DFI identifies Wisconsin Administrative Code DFI-Bkg 40 to 46 as the mortgage banking rule source.

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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