Mortgage Loan Origination (SAFE MLO) Exam
Last Update Nov 30, 2025
Total Questions : 230
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Which of the following factors is considered when determining the interest rate for a subprime mortgage?
Which of the following is an acceptable reason for denying a forward mortgage under the Equal Credit Opportunity Act (ECOA)?
Which of the following fees or charges is an allowable closing cost typically found on a Closing Disclosure?
Mortgage loan originators planning to renew their licenses are required by the SAFE Act to complete which of the following education topics as part of their mandatory annual continuing education?
Closed-end residential mortgage loan products, which are always classified as nontraditional mortgage loans, include:
Which of the following responses describes the main purpose of the secondary market?
Which of the following statements describes the purpose of the TILA-RESPA Integrated Disclosure (TRID)?
According to the Equal Credit Opportunity Act (ECOA), which of the following terms is defined as a refusal to grant credit based on the requested loan terms, an unfavorable change in loan terms, or a termination of an account/application?
A licensed mortgage loan originator (MLO) sharing his commission with another licensed MLO at his company for actual services performed on a loan is considered which of the following terms?
Which of the following facets of a loan could be considered predatory lending or steering?
A mortgage loan originator (MLO) is in the process of taking an application for a 30-year mortgage, and the borrowers are over 72 years old. Which of the following actions must the MLO take?
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?
According to the Truth in Lending Act (TILA), the term "finance charge" includes which of the following charges?
A loan applicant inquires about refinancing his primary residence. He reports receiving a competitor's quote of a 3.5% interest rate with no points. The mortgage loan originator (MLO) discovers that the best interest rate available at this time is 3.75% with no points. To get the applicant a 3.5% interest rate, the applicant needs to pay a 1.00% discount point. Which of the following interest rates is the MLO permitted to offer to the applicant?
Which of the following information is required to be included on Uniform Residential Loan Application?
Which of the following circumstances may indicate fraud with respect to the assets a borrower will use for closing?
No more than how many days before calling any consumer should a company access the National Do Not Call Registry and maintain records documenting this process?
Which of the following documents must be provided to the borrower when they request a change in loan product?
Which of the following information requests from a mortgage loan originator is permissible under Regulation B of the Equal Credit Opportunity Act (ECOA)?
The term "primary mortgage market" refers to which of the following responses?
Which of the following factors is not required to be taken into account when determining a borrower's ability to repay a loan?
An appraiser agrees to give a mortgage loan originator (MLO) half of her appraisal fees in return for the MLO's future business. This illegal practice is known as:
A borrower is approved for an 80/20 loan. Which of the following describes the lien priority for the 20% loan?
A veteran borrower obtains a VA loan to purchase a property for $200,000 and opts to finance the entire purchase price plus the VA funding fee of 2.15%. The initial payment for principal and interest will be calculated based on a loan amount of:
Which of the following applicant characteristics is legally permitted to be considered in evaluating credit risk?
Which of the following real estate methods allows investors to estimate the value of a property by taking the rent collected and dividing it by the capitalization rate?
For an FHA loan, which of the following payments must a borrower make to protect a lender in case of a foreclosure?
How many business days after issuance is an unlocked Loan Estimate considered expired?
What is the loan amount on the purchase price of $249,955.00 if the borrower is putting 18% down?
A real estate broker overhears her buyer discussing what she believes to be illegal activities while on a phone conversation. The real estate broker notifies the buyer's mortgage loan originator (MLO) that the borrower may be using illegally acquired funds as down payment for this property. The MLO decides to report some suspicious cash deposit transactions found in the borrower's bank records. Under the Patriot Act, the MLO may discuss the filing of this report with which of the following parties, if any?
Which of the following is an example of a loan expense that is permitted to change without any tolerance restrictions?
Which of the following activities is a function of the Consumer Financial Protection Bureau (CFPB)?
What is the minimum amount of flood insurance a lender must require on a residential building located in a special flood hazard area?
Which of the following services is included in the definition of a settlement service?
If a borrower believes that there is incorrect information on their credit report, which of the following actions should they take?
A charge payable by the consumer and imposed by the creditor as an incident to or a condition of the extension of credit is the:
A mortgage loan originator is not required to provide an applicant with an initial Loan Estimate within the three business day period requirement if the applicant does which of the following?
A couple purchasing a house does not have enough money in reserve to meet the underwriting guidelines for their loan. They are required to bring $10,000 to closing, and they will be $3,000 short unless they can find additional cash. The mortgage loan originator may assist the borrowers by taking which of the following actions?
A loan secured by any lien other than the first lien position is referred to as:
When a mortgage loan originator (MLO) receives information from a borrower that indicates potential employment fraud, the MLO should:
Which of the following sources of funds is acceptable to utilize for down payments, closing costs or financial reserves?
Which of the following activities is considered a settlement service as defined by the Real Estate Settlement Procedures Act (RESPA)?
Which of the following conditions must be met when presenting loan product options to a consumer?
During the closing the borrower notices that the interest rate increased from 3.250% to 3.875%. The lender must:
Which of the following situations requires further documentation when reviewing bank statements for documentation of assets for down payment and closing costs?
During the loan application process, which of the following documents specifies the time period that a mortgage lender agrees to hold the mortgage interest rate at a certain percentage?
When a mortgage loan originator notices multiple Social Security number discrepancies within the same loan file, it is considered a red flag of:
Which of the following lender payments is prohibited according to Real Estate Settlement Procedures Act (RESPA)?
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:
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?
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?
Which of the following acts requires mortgage loan originators to complete annual continuing education to satisfy the requirement for licensure?
Consumer complaints and the analysis of complaints play a vital role in identifying weaknesses in elements of a company's:
On an FHA-insured loan, the FHA insurance protects the lender in the event that:
How many days after loan consummation does a lender have to refund an excess charge subject to the 10% aggregate tolerance?
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?
TESTED 30 Nov 2025
