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NMLS MLO Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Uniform State Content | 11% | - License maintenance and renewal - State licensing and regulatory requirements - Compliance and disciplinary standards |
| Mortgage Loan Origination Activities | 27% | - Closing and post-closing procedures - Loan application process - Borrower qualification and underwriting basics - Loan programs and product types |
| General Mortgage Knowledge | 20% | - LTV, DTI, CLTV, PMI, points and fees - Conventional, FHA, VA, USDA loan characteristics - Mortgage terms, concepts and calculations - Fixed-rate vs adjustable-rate mortgages |
| Federal Mortgage-Related Laws | 24% | - Disclosure requirements and timing - Fair lending and consumer protection rules - TILA, RESPA, ECOA, HMDA, FCRA - SAFE Act and federal regulatory framework |
| Ethics | 18% | - Conflict of interest and disclosure obligations - Ethical practices and professional conduct - Fraud prevention and detection - Fair lending and anti-discrimination |
NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:
1. Which of the following must be included in advertisements displayed by mortgage loan originators (MLOs) on their social media pages for mortgage services including payment amounts?
A) The MLO's personal website
B) The number of days that the rate is available
C) The MLO's business address
D) The APR
2. Which of the following activities is a function of the Consumer Financial Protection Bureau (CFPB)?
A) Regulating the number of mortgage loan originators in the mortgage industry
B) Deciding what quantity of mortgage-backed securities are purchased by the government
C) Regulating mortgage lenders on their mortgage origination practices and procedures
D) Regulating the federal funds rate at which money is lent to banks
3. Which of the following applicant characteristics is legally permitted to be considered in evaluating credit risk?
A) Whether the alimony payments the applicant relies on for income are likely to continue and to be consistently made
B) Whether the applicant's age makes them ineligible for credit-related insurance
C) Whether the applicant seems likely to have children
D) Whether the applicant has a phone number listing in their name
4. How many days must a borrower's mortgage loan be delinquent before the mortgage company is permitted to submit the first notice filing in the foreclosure process?
A) 30 days
B) 90 days
C) 120 days
D) 60 days
5. A second (subordinate) mortgage loan includes:
A) government home purchase loan.
B) conventional home purchase loan.
C) home equity conversion mortgage.
D) home equity lines of credit (HELOCs;
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: D |
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