NMLS MLO Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Mortgage Loan Origination Activities | 27% | - Loan programs and product types - Borrower qualification and underwriting basics - Closing and post-closing procedures - Loan application process |
| Topic 2: Federal Mortgage-Related Laws | 24% | - SAFE Act and federal regulatory framework - TILA, RESPA, ECOA, HMDA, FCRA - Fair lending and consumer protection rules - Disclosure requirements and timing |
| Topic 3: Ethics | 18% | - Fraud prevention and detection - Ethical practices and professional conduct - Conflict of interest and disclosure obligations - Fair lending and anti-discrimination |
| Topic 4: Uniform State Content | 11% | - License maintenance and renewal - Compliance and disciplinary standards - State licensing and regulatory requirements |
| Topic 5: General Mortgage Knowledge | 20% | - Conventional, FHA, VA, USDA loan characteristics - Fixed-rate vs adjustable-rate mortgages - Mortgage terms, concepts and calculations - LTV, DTI, CLTV, PMI, points and fees |
NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:
Question #1
When a mortgage loan originator (MLO) receives information from a borrower that indicates potential employment fraud, the MLO should:
A. Take no additional action because it is not confirmed.
B. Take no additional action unless the borrower admits that they submitted false employment information.
C. Report the information to another MLO for their opinion.
D. Report the information to the company's compliance officer.
Question #2
When there is no tax return history for a rental property, the Federal Housing Administration (FHA) requires gross rental income to be documented and reduced by what percentage?
A. 25%
B. 20%
C. 10%
D. 15%
Question #3
According to the Truth in Lending Act (TILA), a dwelling includes which of the following?
A. An individual condominium unit
B. A six-unit apartment complex
C. An unimproved lot
D. A timeshare
Question #4
A loan secured by any lien other than the first lien position is referred to as:
A. Subordinate
B. Agency
C. Non-conforming
D. Collectible
Question #5
The purpose of a Suspicious Activity Report (SAR) is to report known or suspected violations or suspicious activity observed by financial institutions subject to the:
A. Truth in Lending Act (TILA).
B. Gramm-Leach-Bliley Act(GLBA).
C. Bank Secrecy Act (BSA).
D. Real Estate Settlement Procedures Act(RESPA).
Solutions:
| Question #1 Correct Answer: D | Question #2 Correct Answer: A | Question #3 Correct Answer: A | Question #4 Correct Answer: A | Question #5 Correct Answer: C |
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