Description
SAFE MLO NMLS practice test covers questions and answers that helps you prepare for your upcoming mortgage loan officer (MLO) exam
Mortgage Loan officer exam often called MLO covers range of topics as part of its exam curriculum. Based on the MLO handbook many different topics and their weightage are discussed here:
Federal Mortgage Related Laws – 24% – Federal laws that govern the mortgage industry and all aspects of loan processing including RESPA, ECOA, TILA, TRID, Many more federal laws & guidelines, Authorities regulating these laws are covered here
Uniform State Content – 11% – SAFE Act, Model state laws, License laws and regulations, Compliance related topics are discussed here
General Mortgage Knowledge – 20% – Types of mortgage programs like qualified and non-qualified mortgage programs, Mortgage loan products, Terms used in mortgage industry are discussed here
Mortgage Loan Origination Activities – 27% – This is typical day-to-day job duties of a loan officer covering topics like loan inquiry and application process requirements, Processing & underwriting the application, Closing, Financial calculations etc
Ethics – 18% – Ethical issues including prohibited acts, fairness in lending, fraud detection, suspicious bank activity, advertising are included. In addition to this ethical behavior related to loan origination activities including financial responsibility, handling borrower complaints, mortgage company compliance, relationship with consumers is discussed here
Our questions are up-to-date with latest rules and regulations in mortgage industry making it preparing for your upcoming exam
