[Feb-2026] Practice NMLS MLO exam. Online Exam Practice Tests with detailed explanations! Pass MLO with confidence! [Q70-Q91]

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Practice SAFE MLO MLO exam. Online Exam Practice Tests with detailed explanations! Pass MLO with confidence!

MLO – Mortgage Loan Origination (SAFE MLO) Exam Practice Tests 2026 | VCEDumps

NEW QUESTION 70
Which of the following entities is the primary regulatory authority for state-licensed, non-depository lenders?

A state regulator

The Conference of State Bank Supervisors

The Federal Trade Commission

NMLS

NEW QUESTION 71
Which of the following entities has the primary enforcement authority under the Red Flags Rule?

IRS

Federal Trade Commission

HUD

Conference of State Bank Supervisors

NEW QUESTION 72
Which of the following components of an ARM adjusts periodically?

Index and margin only

Index and interest rate only

Margin and interest rate only

Margin, index and interest rate

NEW QUESTION 73
Which of the following facets of a loan could be considered predatory lending or steering?

Cash-out

Fixed interest rate

Prepayment penalty

Lowered interest rate

NEW QUESTION 74
Which of the following property types is eligible for FHA financing?

Vacation home

Bed and breakfast

Manufactured home

Commercial real estate loan

NEW QUESTION 75
Which of the following acts or practices violates appraisal independence?

The mortgage loan originator (MLO) asks the appraiser to correct errors on the appraisal.

The MLO asks the appraiser for a minimum valuation of the property so that the loan-to-value meets lending requirements.

The MLO asks the appraiser to consider additional comparable properties to make or support an appraisal.

The MLO asks the appraiser to provide further detail or explanation for the appraiser’s value conclusion.

NEW QUESTION 76
The Red Flags Rule under the Fair and Accurate Credit Transactions Act (FACTA) require lenders to:

adopt best practices for property evaluations as stipulated in the Home Valuation Code of Conduct.

adopt a credit score evaluation method utilizing the middle of three repository scores and the lowest of all borrowers’ scores.

implement a written program to detect warning signs of identity theft.

implement an internal watch system to prevent the misrepresentation of occupancy status

NEW QUESTION 77
A mortgage loan originator paying compensation to a real estate agent for client referrals is:

Prohibited unless the client is notified and consents to the payment.

Considered an illegal kickback prohibited by the Real Estate Settlement Procedures Act (RESPA).

Permissible if the compensation is limited to meals or other noncash gifts.

Permissible if the compensation is limited to payment for the real estate agent’s related business expenses.

NEW QUESTION 78
If a borrower only receives commission pay for 18 months, which of the following actions should a mortgage loan originator (MLO) take?

Take the application but tell the borrower that they will need a cosigner

Take the application because positive factors may offset the short income history

Tell the borrower they need a steady income and not one that fluctuates

Tell the borrower to come back in 6 months when they will have 24 months of commission pay

NEW QUESTION 79
Which of the following responses describes the main purpose of the secondary market?

To fund additional loans

To fund a second home loan

To fund second mortgage loans

To service second mortgage loans

NEW QUESTION 80
Which of the following information must be included in advertisements?

An NMLS unique identifier

Estimated loan closing time frames

A statement of an unrealistic interest rate

Mortgage loan originator contact information

NEW QUESTION 81
A qualified mortgage:

Results in a balloon payment.

Results in an increase of the principal balance.

Allows the consumer to defer repayment of principal.

Provides for regular periodic payments that are substantially equal.

NEW QUESTION 82
According to the Equal Credit Opportunity Act (ECOA), when evaluating a loan applicant’s credit worthiness, a creditor is permitted to decline a loan based on which of the following factors?

A description of an applicant’s race

An applicant’s verified income after underwriting

An applicant’s income is derived from public assistance

An applicant has exercised his right under the Consumer Credit Protection Act

NEW QUESTION 83
Which of the following documents must be provided to the borrower when they request a change in loan product?

Loan Estimate

Service provider list

Home counseling list

Amortization schedule

NEW QUESTION 84
A borrower has told the mortgage loan originator that they had recently paid off an account that was listed on their credit report. Which of the following information will they need to provide the lender to prove the account has been paid off?

Oral confirmation from the borrower

An updated statement showing a zero balance

A letter from the borrower explaining that they paid it off

No additional information required

NEW QUESTION 85
Which of the following is not a primary function for compensation undertaken by a mortgage loan originator on an FHA loan?

Taking an application

Offering or negotiating credit terms

Assisting a consumer in applying for credit

Performing real estate brokerage activities

NEW QUESTION 86
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?

7 business days

15 business days

30 business days

45 calendar days

NEW QUESTION 87
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?

Tip sharing

Fee splitting

Single fee method

Double fee method

NEW QUESTION 88
Which of the following actions by a mortgage loan originator is prohibited regarding credit secured by a dwelling?

Receiving compensation from both the borrower and the lender

Presenting program options that best qualify and satisfy the consumer

Providing disclosures within three days of an application

Providing a copy of the credit application to the primary borrower

NEW QUESTION 89
Within how many days must a creditor notify an applicant of action taken on a completed mortgage loan application?

15 days

30 days

45 days

60 days

NEW QUESTION 90
When providing documents to a state regulator regarding a consumer complaint that was submitted to the state regulator, a licensed company should:

Send the documents by U.S. mail rather than electronically for privacy reasons.

Contact the consumer to get their authorization to provide documents to the regulator.

Provide the documents along with the company’s explanation of what caused the complaint.

Redact any names and personal information before providing the documents for privacy reasons.

NEW QUESTION 91
Which of the following statements describes the purpose of the TILA-RESPA Integrated Disclosure (TRID)?

It provides a three-day cooling-off period for all loans

It allows borrowers five days to review the final amount needed for settlement.

It ensures that the terms and fees that are quoted at the time of application do not change.

It aids borrowers in understanding the loan transaction process by utilizing readily understandable language.

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[Feb-2026] Practice NMLS MLO exam. Online Exam Practice Tests with detailed explanations! Pass MLO with confidence! [Q70-Q91]

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