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Simulate the real exam

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Only need to practice for 20 to 30 hours

You will get to know the valuable exam tips and the latest question types in our MLO certification training files, and there are special explanations for some difficult questions, which can help you to have a better understanding of the difficult questions. All of the questions we listed in our MLO practice exam materials are the key points for the IT exam, and there is no doubt that you can practice all of MLO best questions within 20 to 30 hours, even though the time you spend on it is very short, however the contents you have practiced are the quintessence for the IT exam. And of course, if you still have any misgivings, you can practice our MLO certification training files again and again, which may help you to get the highest score in the IT exam.

Fast delivery in 5 to 10 minutes after payment

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NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

1. Which of the following circumstances may indicate fraud with respect to the assets a borrower will use for closing?

A) Disclosure of gift funds
B) Parental loans disclosed but not yet received
C) Bank deposits that are not supported by income or other disclosures
D) Borrower's receipt of a large bonus from an employer

2. The debt-to-income analysis should assess a borrower's total monthly housing related payments as a percentage of the:

A) gross monthly income.
B) loan amount.
C) taxable income.
D) net monthly income

3. Which of the following is considered a prohibition under the Real Estate Settlement Procedures Act (RESPA)?

A) Hosting an educational seminar at no cost to the participants
B) Sponsoring a little league team where the company name is on the uniforms
C) Renting office space at lower rates based on the whole or in the amount of business referred
D) Donating an item of value to a silent auction hosted by a charity

4. When there is no tax return history for a rental property, the Federal Housing Administration (FHA) requires gross rental income to be documented and reduced by what percentage?

A) 15%
B) 10%
C) 25%
D) 20%

5. If a borrower is provided a written estimate of the terms or costs specific to them before they receive the Loan Estimate, the written estimate must clearly and conspicuously provide which of the following statements at the top front of the first page?

A) "By signing, you confirm that you have received this form. You do not have to accept this loan because you have received this form."
B) "Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan."
C) "Your actual rate, payment and costs will be higher."
D) "By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form."

Solutions: