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2025 NMLS MLO: Accurate Guide Mortgage Loan Origination (SAFE MLO) Exam Torrent

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NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q100-Q105):

NEW QUESTION # 100
Which of the following is not a primary function for compensation undertaken by a mortgage loan originator on an FHA loan?

A. Offering or negotiating credit terms
B. Taking an application
C. Performing real estate brokerage activities
D. Assisting a consumer in applying for credit

Answer: C

Explanation:
Real estate brokerage activities are not a primary function of a mortgage loan originator (MLO). The MLO's primary role is to assist consumers in taking an application (A), offering or negotiating credit terms (B), and helping consumers apply for credit (C).
* Real estate brokerage activities, such as negotiating real estate transactions, are separate from the loan origination process and require different licensing and qualifications.
References:
* SAFE Act, 12 USC §5101
* NMLS MLO Licensing Guidelines

NEW QUESTION # 101
How many days must a borrower's mortgage loan be delinquent before the mortgage company is permitted to submit the first notice filing in the foreclosure process?

A. 60 days
B. 120 days
C. 30 days
D. 90 days

Answer: B

NEW QUESTION # 102
What is the minimum amount of flood insurance a lender must require on a residential building located in a special flood hazard area?

A. $250,000 for residential property structures
B. $350,000 for residential property structures
C. $150,000 for residential property structures
D. $50,000 for residential property structures

Answer: A

Explanation:
The minimum amount of flood insurance required by lenders for a residential building located in a Special Flood Hazard Area (SFHA) is the lesser of:
* 100% of the replacement cost of the structure, or
* The maximum available under the National Flood Insurance Program (NFIP), which is $250,000 for residential property structures.
This requirement ensures that the property is adequately covered in case of flood damage.
References:
* National Flood Insurance Program (NFIP) Guidelines
* Flood Disaster Protection Act (FDPA)

NEW QUESTION # 103
Which of the following loans is subject to the Real Estate Settlement Procedures Act (RESPA)?

A. Standard county related mortgage loan
B. Federally related mortgage loan
C. State registration related mortgage loan
D. Unified commerce related mortgage loan

Answer: B

Explanation:
The Real Estate Settlement Procedures Act (RESPA) applies to federally related mortgage loans, which include:
* Loans made by lenders insured by a federal agency (such as FHA or VA loans)
* Loans intended for sale to Fannie Mae or Freddie Mac
* Loans from lenders that are federally regulated or insured
RESPA's goal is to protect consumers by requiring disclosures related to the costs of real estate transactions, preventing kickbacks, and ensuring transparency in the settlement process. It applies to most residential mortgage loans.
Other options:
* County-related mortgage loans (B), state registration loans (C), and unified commerce loans (D) are not standard terms under RESPA.
References:
* Real Estate Settlement Procedures Act (RESPA)
* 12 CFR Part 1024, Regulation X

NEW QUESTION # 104
A woman and her son meet with a mortgage loan originator (MLO) about refinancing the mother's home.
During the meeting, the MLO senses that the mother is against the transaction and may be being unfairly coerced into the procedure. In which of the following ways should the MLO proceed?

A. [Consider the issue to be a private family matter and proceed with the next steps in the application process
B. Ask to speak to the mother privately to inquire whether she Is a willing participant in the transaction
C. Suggest that the son be listed as a co-borrower on the mortgage to ensure he assumes part of the risk of the loan
D. Tell the mother that she needs to sign a power of attorney so that her son may complete the transaction on her behalf

Answer: B

Explanation:
When an MLO suspects that a borrower, such as the mother in this case, may be under duress or being coerced into a transaction, they have a duty to ensure that all parties are willingly participating. The ethical approach would be to ask to speak privately with the mother to verify her intentions and comfort level with the transaction. This ensures that the loan is compliant with consumer protection laws such as the Truth in Lending Act (TILA) and the Equal Credit Opportunity Act (ECOA), which protect against unfair lending practices.
* Ignoring the situation (Option B) could lead to participation in a coerced or fraudulent transaction.
* Suggesting that the son be a co-borrower (Option C) or signing a power of attorney (Option D) are inappropriate if the mother is unwilling to proceed.
Verifying her willingness safeguards the integrity of the loan process and ensures compliance with fair lending practices.
References:
* Truth in Lending Act (TILA)
* Equal Credit Opportunity Act (ECOA)
* CFPB guidelines on elder financial abuse

NEW QUESTION # 105
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