NMLS Mortgage Loan Origination (SAFE MLO) : MLO Exam Questions

  • Exam Code: MLO
  • Exam Name: Mortgage Loan Origination (SAFE MLO) Exam
  • Updated: Sep 16, 2026
  • Q&As: 232 Questions and Answers

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NMLS MLO Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Uniform State Content11%- State Regulatory Content
  • 1. Licensing Requirements
  • 2. Compliance Standards
  • 3. SAFE Act
  • 4. State Mortgage Regulations
Topic 2: Federal Mortgage-Related Laws24%- Federal Mortgage Laws
  • 1. Privacy and Consumer Protection
  • 2. Real Estate Settlement Procedures Act (RESPA)
  • 3. Truth in Lending Act (TILA)
  • 4. Fair Credit Reporting Act (FCRA)
  • 5. Equal Credit Opportunity Act (ECOA)
Topic 3: General Mortgage Knowledge20%- Mortgage Fundamentals
  • 1. Loan Types
  • 2. Interest Rates and Calculations
  • 3. Underwriting Basics
  • 4. Qualified and Non-Qualified Mortgages
  • 5. Mortgage Terminology
Topic 4: Mortgage Loan Origination Activities27%- Loan Origination Process
  • 1. Financial Calculations
  • 2. Processing and Underwriting
  • 3. Borrower Qualification
  • 4. Closing Procedures
  • 5. Application Process
Topic 5: Ethics18%- Ethical Practices
  • 1. Consumer Protection
  • 2. Fair Lending
  • 3. Fraud Prevention
  • 4. Professional Conduct

NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

Question #1

Which of the following documents is required to be issued to a customer when a mortgage loan originator is also a real estate broker on the same transaction?

  • A. Special information booklet
  • B. Appraisal disclosure
  • C. Affiliated business arrangement disclosure
  • D. Loan application
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

On an annual basis, a licensed state mortgage loan originator must complete three hours of continuing education on federal law and regulations, two hours on nontraditional mortgage products, and two hours on:

  • A. Government loan programs
  • B. How to complete the loan application
  • C. Ethics
  • D. The operations of the secondary market
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

A borrower visits a mortgage loan originator (MLO) for Mortgage ABC to discuss getting a home equity line of credit (HELOC) loan from Bank LMN. The MLO encourages the borrower to apply with Bank XYZ instead because ABC does not provide HELOC loans. When the borrower submits an application directly to XYZ, XYZ pays the MLO $100 from the 1% origination fee that it collected from the borrower. Is this fee permissible?

  • A. The fee is permitted if the fee is disclosed on the final settlement statement.
  • B. The fee is not permitted as the MLO did not perform any actual origination services for the borrower, unless the fee was paid directly by the borrower.
  • C. The fee is permitted as the MLO performed origination services for the borrower.
  • D. The fee is not permitted as the MLO did not perform any actual origination services for the borrower.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for VCEPrep members. You can sign-up / login (it's free).

Question #4

How many business days after issuance is an unlocked Loan Estimate considered expired?

  • A. 5 days
  • B. 7 days
  • C. 10 days
  • D. 3 days
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

How many days after loan consummation does a lender have to refund an excess charge subject to the 10% aggregate tolerance?

  • A. 50 days
  • B. 60 days
  • C. 90 days
  • D. 45 days
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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