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NMLS MLO Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Uniform State Content | 11% | - Compliance and disciplinary standards - State licensing and regulatory requirements - License maintenance and renewal |
| Topic 2: Federal Mortgage-Related Laws | 24% | - Disclosure requirements and timing - SAFE Act and federal regulatory framework - Fair lending and consumer protection rules - TILA, RESPA, ECOA, HMDA, FCRA |
| Topic 3: Ethics | 18% | - Conflict of interest and disclosure obligations - Ethical practices and professional conduct - Fair lending and anti-discrimination - Fraud prevention and detection |
| Topic 4: General Mortgage Knowledge | 20% | - LTV, DTI, CLTV, PMI, points and fees - Mortgage terms, concepts and calculations - Fixed-rate vs adjustable-rate mortgages - Conventional, FHA, VA, USDA loan characteristics |
| Topic 5: Mortgage Loan Origination Activities | 27% | - Closing and post-closing procedures - Loan application process - Loan programs and product types - Borrower qualification and underwriting basics |
NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:
1. A qualified mortgage:
A) Results in an increase of the principal balance.
B) Results in a balloon payment.
C) Allows the consumer to defer repayment of principal.
D) Provides for regular periodic payments that are substantially equal.
2. According to Federal Reserve Regulation Z, which of the following fees is a finance charge in a residential mortgage transaction?
A) Credit report
B) Notary
C) Title Insurance
D) Interest
3. On an FHA-insured loan, the FHA insurance protects the lender in the event that:
A) There is a prior lien against the property.
B) The property suffers damage causing the value to fall below the appraised value.
C) The borrower is unable to pay the loan.
D) The lender is not able to find an investor to purchase the loan.
4. A revised Closing Disclosure is not required to be provided before a loan consummation in which of the following circumstances?
A) An addition of an escrow account
B) An addition of a prepayment penalty
C) A change in APR
D) A change in loan product
5. What is the loan amount on the purchase price of $249,955.00 if the borrower is putting 18% down?
A) $204,936.10
B) $204,693.10
C) $204,966.10
D) $204,963.10
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: B |







