Recently, Wisconsin enacted Senate Bill 773 which repealed certain disclosure requirements. As we previously announced, we determined that while the disclosure was no longer required by Wis. Stat. Ann. § 138.052(7e), the disclosure was still required under Wis. Admin. Code, DFI-BKG § 43.02(11) & (14). We also determined that the administrative codes did not apply to mortgage bankers or mortgage loan originators. Consequently, we updated Cx2783 (WI Advanced Fee/Application Disclosure) to remove the citation for Wis. Stat. Ann. § 138.052(7e) and reconfigured it to print for mortgage brokers only.
Upon further research and examination, we determined that while Wis. Admin. Code, DFI-BKG § 43.02(14)(b) does have a provision that excludes mortgage bankers and mortgage loan originators, the exclusion does not apply to subsection (11) which is the primary provision requiring Cx2783. Therefore, we are reverting Cx2783 to its original configuration to print for mortgage bankers, mortgage loan originators, and mortgage brokers.
DR-150646
These changes were pushed to production servers on 5/24/2024. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.