NMLS MLO : Mortgage Loan Origination (SAFE MLO) Exam

MLO pass collection

Exam Code: MLO

Exam Name: Mortgage Loan Origination (SAFE MLO) Exam

Updated: Aug 01, 2026

Q & A: 232 Questions and Answers

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NMLS MLO Exam Syllabus Topics:

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

NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

1. A mortgage loan originator (MLO) received a salary of 1% per loan plus a bonus of $5,000 for closing the most loans in the office last year. In addition, he received a trip to Hawaii based on closing 100 or more transactions with an interest rate of 5% or higher. Is the MLO's compensation prohibited?

A) His compensation is not permitted as compensation includes all financial incentives and his trip was awarded based on closing the most loans with certain loan terms.
B) His compensation is permitted as compensation only includes salary and bonuses and his salary and bonus is not based on loan terms.
C) His compensation is permitted as compensation only includes salary and his salary is not based on loan terms.
D) His compensation is not permitted as compensation only includes salary and his salary is based on loan terms.


2. A consumer with HIV/AIDS is protected from lending discrimination by the:

A) Employment Non-Discrimination Act
B) Equality Act
C) Dodd-Frank
D) Fair Housing Act


3. Which of the following property value approaches does an appraiser use on a rental property?

A) Sales comparison approach
B) Cost approachB Income approach
C) Annual approach


4. According to Federal Reserve Regulation Z, which of the following fees is a finance charge in a residential mortgage transaction?

A) Title Insurance
B) Credit report
C) Interest
D) Notary


5. In a federally related mortgage loan transaction, a charge for a settlement service by a person for which no services or nominal services are performed is prohibited:

A) unless it is paid by the mortgage loan originator on the borrower's behalf.
B) only if it is paid by the borrower's real estate agent.
C) unless it is paid by the seller or the seller's real estate agent.
D) regardless of the sources of payment.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: D
Question # 3
Answer: C
Question # 4
Answer: C
Question # 5
Answer: D

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