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NMLS MLO Exam Syllabus Topics:

NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

1. A mortgage loan originator paying compensation to a real estate agent for client referrals is:

A) Permissible if the compensation is limited to payment for the real estate agent's related business expenses.
B) Permissible if the compensation is limited to meals or other noncash gifts.
C) Considered an illegal kickback prohibited by the Real Estate Settlement Procedures Act (RESPA).
D) Prohibited unless the client is notified and consents to the payment.

2. Which of the following loan types is regulated by the Home Ownership and Equity Protection Act (HOEPA)?

A) Reverse mortgage
B) USDA Rural Development
C) Construction
D) Refinance

3. A borrower may rescind their mortgage loan until midnight of the third:

A) Business day following consummation or delivery of all material disclosures, whichever occurs last.
B) Calendar day following consummation or delivery of all material disclosures, whichever occurs last.
C) Calendar day or delivery of all material disclosures, whichever occurs first.
D) Business day following consummation or delivery of all material disclosures, whichever occurs first.

4. A mortgage loan originator who informs a prospective borrower that a certain loan interest rate can only be guaranteed if an application is submitted within the next 30 minutes is committing:

A) Redlining
B) Discrimination
C) Coercion
D) Exaggeration

5. If a borrower is provided a written estimate of the terms or costs specific to them before they receive the Loan Estimate, the written estimate must clearly and conspicuously provide which of the following statements at the top front of the first page?

A) "By signing, you confirm that you have received this form. You do not have to accept this loan because you have received this form."
B) "Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan."
C) "Your actual rate, payment and costs will be higher."
D) "By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form."

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