NMLS MLO Mortgage Loan Origination (SAFE MLO) Exam Online Training
NMLS MLO Online Training
The questions for MLO were last updated at Mar 25,2025.
- Exam Code: MLO
- Exam Name: Mortgage Loan Origination (SAFE MLO) Exam
- Certification Provider: NMLS
- Latest update: Mar 25,2025
How many days after loan consummation does a lender have to refund an excess charge subject to th
10% aggregate tolerance?
- A . 45 days
- B . 50 days
- C . 60 days
- D . 90 days
It is acceptable for a lender to request a co-applicant in which of the following situations?
- A . The borrower will not qualify for the loan on their own.
- B . The borrower’s future income is dependent on the co-applicant.
- C . The co-applicant will be residing in the house with the borrower.
- D . The co-applicant is gifting money to the borrower to make a down payment on a purchase-money
mortgage
The loan-to-value ratio for an FHA loan is calculated by dividing the loan amount by:
- A . the purchase price of the property.
- B . the appraised value of the property.
- C . the lesser of the purchase price or appraised value.
- D . the purchase price, plus the mortgage insurance for FHA loans.
Which of the following fees is a finance charge?
- A . A notary fee
- B . An origination fee
- C . An appraisal fee
- D . A late payment fee
Which of the following statements describes an advantage of a purchase money second mortgage?
- A . The borrower pays two mortgage payments.
- B . The borrower avoids paying into the escrow account.
- C . The borrower avoids paying private mortgage insurance
- D . The borrower’s loan closes faster than a regular mortgage.
During the closing the borrower notices that the interest rate increased from 3.250% to 3.875%.
The lender must:
- A . tell the borrower to close the loan.
- B . close the loan, then re-disclose after the loan funds.
- C . postpone the closing, re-disclose and wait three days.
- D . postpone the closing, re-disclose and wait three business days.
How many continuing education hours must mortgage loan originators complete every year to renew their license?
- A . 3 hours
- B . 8 hours
- C . 16 hours
- D . 20 hours
Maximum available flood insurance structure coverage for a residential property from the National Flood Insurance Program is what amount?
- A . £250,000
- B . £500,000
- C . $750,000
- D . $1,000,000
A real estate broker overhears her buyer discussing what she believes to be illegal activities while on a phone conversation. The real estate broker notifies the buyer’s mortgage loan originator (MLO) that the borrower may be using illegally acquired funds as down payment for this property. The MLO decides to report some suspicious cash deposit transactions found in the borrower’s bank records.
Under the Patriot Act, the MLO may discuss the filing of this report with which of the following parties, if any?
- A . The buyer’s agent
- B . All parties involved in the transaction
- C . His loan processor
- D . The report Is not permitted to be discussed with any parties involved in the transaction.
If an applicant provides a waiver for the requirement to receive their appraisal three business days prior to a loan’s consummation and the transaction ends up not closing at all, a creditor must still provide a copy of the appraisal no later than how many days after the creditor determines consummation will not occur?
- A . 10 days
- B . 30 days
- C . 45 days
- D . 60 days
Latest MLO Dumps Valid Version with 117 Q&As
Latest And Valid Q&A | Instant Download | Once Fail, Full Refund
