NMLS MLO Mortgage Loan Origination (SAFE MLO) Exam Online Training
NMLS MLO Online Training
The questions for MLO were last updated at Mar 30,2025.
- Exam Code: MLO
- Exam Name: Mortgage Loan Origination (SAFE MLO) Exam
- Certification Provider: NMLS
- Latest update: Mar 30,2025
The debt-to-income analysis should assess a borrower’s total monthly housing related payments as a percentage of the:
- A . net monthly income
- B . gross monthly income.
- C . taxable income.
- D . loan amount.
Non-qualified mortgages offer more options for borrowers who:
- A . are unemployed.
- B . are self-employed.
- C . have no down payment.
- D . are currently living with their parents.
Which of the following activities is a function of the Consumer Financial Protection Bureau (CFPB)?
- A . Regulating the federal funds rate at which money is lent to banks
- B . Regulating the number of mortgage loan originators in the mortgage industry
- C . Regulating mortgage lenders on their mortgage origination practices and procedures
- D . Deciding what quantity of mortgage-backed securities are purchased by the government
The appraiser valuation independence obligates appraisers to perform their duties in a manner free from outside influence through which of the following actions?
- A . Encouraging a target value
- B . Withholding payment from an appraiser
- C . Asking the appraiser to substantiate a value
- D . Communication directly between the loan officer and the appraiser
Which of the following reasons is acceptable for denying a loan under the Equal Credit Opportunity Act
(ECOA)?
- A . Receipt of child support
- B . Immigration status
- C . Marital status
- D . Country of birth
Which of the following items may lenders use to verify a borrower’s income for his ability to repay a mortgage?
- A . An electronic paystub
- B . A copy of a check register
- C . The income stated on the loan application
- D . The borrower’s attestation that he expects a raise within 30 days
Which of the following sources of funds is acceptable to utilize for down payments, closing costs or financial reserves?
- A . Virtual currency funds
- B . Community second funds
- C . Personal unsecured loans
- D . Foreign assets located outside of the U.S. or its territories
An easement:
- A . is a mortgage modification.
- B . is a right to cross or otherwise use someone else’s land for a specified purpose.
- C . allows a loan applicant to close on a loan even if all the stipulations have not been met.
- D . allows a borrower to make less than the required payments without going through a full mortgage modification.
Under the TILA-RESPA Integrated Disclosure rule (TRID), what is the minimum time period that must pass between a borrower’s receipt of a Loan Estimate and the closing of a mortgage loan?
- A . 7 business days
- B . 15 business days
- C . 30 business days
- D . 45 calendar days
Which of the following is an origination fee?
- A . Appraisal fee
- B . Underwriting fee
- C . Title insurance fee
- D . Prepaid Interest fee
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