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NMLS MLO Exam Syllabus Topics:

SectionWeightObjectives
Uniform State Content11%- State licensing and regulatory requirements
- Compliance and disciplinary standards
- License maintenance and renewal
Federal Mortgage-Related Laws24%- TILA, RESPA, ECOA, HMDA, FCRA
- Disclosure requirements and timing
- SAFE Act and federal regulatory framework
- Fair lending and consumer protection rules
Mortgage Loan Origination Activities27%- Loan application process
- Closing and post-closing procedures
- Borrower qualification and underwriting basics
- Loan programs and product types
Ethics18%- Ethical practices and professional conduct
- Conflict of interest and disclosure obligations
- Fair lending and anti-discrimination
- Fraud prevention and detection
General Mortgage Knowledge20%- Mortgage terms, concepts and calculations
- LTV, DTI, CLTV, PMI, points and fees
- Conventional, FHA, VA, USDA loan characteristics
- Fixed-rate vs adjustable-rate mortgages

NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

Which of the following items is a liquid asset?

  • A. An automobile owned free and clear
  • B. Net worth of a business
  • C. Publicly traded stocks
  • D. Antique jewelry
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for TestKingsIT members. You can sign-up / login (it's free).

A written agreement guaranteeing a specific rate is called:

  • A. A preapproval letter
  • B. A loan application
  • C. An intent to proceed agreement
  • D. A lock-in agreement
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for TestKingsIT members. You can sign-up / login (it's free).

The TILA-RESPA Integrated Disclosure rule (TRID) applies to most closed-end consumer credit transactions secured by real property, which includes:

  • A. refinance of a condominium property.
  • B. loans secured by a mobile home on a leased lot.
  • C. reverse mortgages.B home equity lines of credit (HELOCs;
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for TestKingsIT members. You can sign-up / login (it's free).

Which of the following actions by a mortgage loan originator is prohibited regarding credit secured by a dwelling?

  • A. Providing disclosures within three days of an application
  • B. Presenting program options that best qualify and satisfy the consumer
  • C. Receiving compensation from both the borrower and the lender
  • D. Providing a copy of the credit application to the primary borrower
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for TestKingsIT members. You can sign-up / login (it's free).

Which of the following responses describes the main purpose of the secondary market?

  • A. To fund second mortgage loans
  • B. To service second mortgage loans
  • C. To fund additional loans
  • D. To fund a second home loan
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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