Wyoming License Law
A Wyoming broker who suspects a client is engaged in mortgage fraud should:
AComplete the transaction and report it after closing
BRefuse to participate and consider reporting to appropriate authorities✓ Correct
CContinue the transaction to protect their commission
DOnly notify the title company
Explanation
A broker who participates in or facilitates mortgage fraud violates Wyoming license law and may face criminal prosecution. Brokers who suspect fraud should refuse to participate, and may have reporting obligations under the Suspicious Activity Report (SAR) requirements applicable to certain transactions.
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