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a Wisconsin compliance file raises a continuing education and renewal question involving DFI says the Mortgage Loan Originator License is required of any individual who, for compensation or expected compensation,. Which statement is supported by the state rule?

Correct Answer

D) Wisconsin licensing depends on the required application, background, credit, and financial-responsibility findings.

Wisconsin DFI says the Mortgage Loan Originator License is required of any individual who, for compensation or expected compensation, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.

Answer Options
A
Rely on prior mortgage experience instead of the stated state or NMLS requirement.
B
Treat the file as complete without the required licensing documentation.
C
Delay the correction until after approval, closing, or a later complaint.
D
Wisconsin licensing depends on the required application, background, credit, and financial-responsibility findings.

Why This Is the Correct Answer

Wisconsin DFI says the Mortgage Loan Originator License is required of any individual who, for compensation or expected compensation, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.

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