Exam (elaborations)
NMLS EXAM QUESTIONS WITH DETAILED VERIFIED CORRECT ANSWERS
NMLS EXAM QUESTIONS WITH DETAILED VERIFIED CORRECT ANSWERS
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NMLS EXAM QUESTIONS WITH DETAILED VERIFIEDCORRECT ANSWERS
Housing & Economic Recovery Act 2008 - Title V
Entitled the S.A.F.E Mortgage Licensing Act
S.A.F.E.
Secure and Fair Enforcement
NMLS
Nationwide Mortgage Licensing System & Registry
MLO
Mortgage Loan Originator
S.A.F.E. Mortgage Licensing Act of 2008
Enhance consumer protection, reduce fraud by requiring ALL MLOs to be either state-licensed
or federally registered. ALL states must must implement a MLO licensing process that meets
certain standards through the NMLS
What is pass score for NMLS-developed S.A.F.E. MLO Originator test?
75% or better
UST
Uniform State Test ~ launched 4/1/2013 ~ 1st major change to SAFE MLO Test requirements
since tests were launched in July 2009
CSBS/AARMR Model State Law (MSL)
Conference of State Bank Supervisors/American Association of Residential Mortgage Regulators
States which have NOT adopted UST
, West Virginia & Minnesota
States which WILL adopt UST on 9/16/2017
South Carolina
My NMLS Name & ID Number
Allison Kaye Rosenzweig (1636636)
My NMLS Registered Email Address
SAFE MLO Test "Effective Date" for National w/ Uniform State Content
November 1, 2014
SRR
State Regulatory Registry, LLC ~ associated with SAFE MLO Test ~ Binding contract between you
& SRR
Who owns and operates NMLS?
SRR (State Regulatory Registry, LLC)
LOFT
Linear on the Fly Testing ~ Enacted 2/16/2015 for National Test with Uniform State Test ~
Statistical Equating Standard Form ~ place all test takers on equal ground
HUD
US Department of Housing & Urban Development
Waiting Period ~ Initial Test Attempt FAIL
30 Days
Waiting Period ~ 2nd Test Attempt FAIL
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