Wisconsin DFI provides Covid-19 guidance

State Issues Wisconsin Licensing Mortgages Loan Origination Covid-19

In March, the Wisconsin Department of Financial Institutions, Division of Banking (Division) issued guidance to state licensed mortgage loan originators (MLO) regarding working from a location that is not licensed or registered in light of Covid-19. Effective immediately, the Division will allow MLOs to work from home provided they comply with a number of provisions, including (i) the sponsoring licensed entity must notify the Division which MLOs will be working from home and keep a list of all such MLOs to be available upon request; (ii) the MLO may not maintain physical business records at home; and (iii) MLOs may not conduct business with consumers at the home location. Additional resources for financial services companies regarding Covid-19 may be found at the Department of Financial Institutions webpage here.