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NMLS MLO Exam Overview:
| Certification Vendor: | NMLS (Nationwide Multistate Licensing System) |
|---|---|
| Exam Name: | SAFE Mortgage Loan Originator National Exam with Uniform State Content |
| Exam Number: | SAFE-MLO |
| Real Exam Qty: | 120 (115 scored, 5 unscored) |
| Passing Score: | 75% |
| Certificate Validity Period: | 2 years |
| Exam Format: | Computer-based, Multiple choice |
| Exam Price: | $110 USD |
| Exam Duration: | 190 minutes |
| Available Languages: | English |
| Recommended Training: | NMLS Approved Education Providers |
| Exam Registration: | NMLS Testing Portal |
| Sample Questions: | NMLS MLO Sample Questions |
| Exam Way: | In-person at Prometric test centers or online proctored |
| Pre Condition: | Complete 20 hours of NMLS-approved pre-licensing education; background check and fingerprinting required |
| Official Syllabus URL: | https://mortgage.nationwidelicensingsystem.org/safe-act-testing |
NMLS MLO Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Uniform State Content | 11% | - License maintenance and renewal - Compliance and disciplinary standards - State licensing and regulatory requirements |
| 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 |
| Mortgage Loan Origination Activities | 27% | - Loan programs and product types - Borrower qualification and underwriting basics - Closing and post-closing procedures - Loan application process |
| Ethics | 18% | - Ethical practices and professional conduct - Conflict of interest and disclosure obligations - Fraud prevention and detection - Fair lending and anti-discrimination |
| General Mortgage Knowledge | 20% | - LTV, DTI, CLTV, PMI, points and fees - Fixed-rate vs adjustable-rate mortgages - Mortgage terms, concepts and calculations - Conventional, FHA, VA, USDA loan characteristics |
NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:
What is the minimum amount of flood insurance a lender must require on a residential building located in a special flood hazard area?
- A. $150,000 for residential property structures
- B. $350,000 for residential property structures
- C. $250,000 for residential property structures
- D. $50,000 for residential property structures
Correct Answer: C 🗳️
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A title insurance policy ensures that:
- A. The borrower can repay the loan.
- B. The title commitment is accurate.
- C. A condominium is warrantable.
- D. The borrower owns the property.
Correct Answer: D 🗳️
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In a federally related mortgage loan on a principal dwelling, which of the following parties has the right to rescind the transaction?
- A. Only the borrower with the majority interest in the transaction
- B. Only the person who will actually occupy the property
- C. Only the borrower who makes the most income
- D. Any person who has an ownership interest in the property
Correct Answer: D 🗳️
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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. 45 calendar days
- B. 30 business days
- C. 7 business days
- D. 15 business days
Correct Answer: C 🗳️
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A consumer with HIV/AIDS is protected from lending discrimination by the:
- A. Fair Housing Act
- B. Employment Non-Discrimination Act
- C. Equality Act
- D. Dodd-Frank
Correct Answer: A 🗳️
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By Arno
