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MLO NMLS EXAM NEWEST
QUESTIONS 2025 WITH CORRECT
SOLUTIONS| PASS WITH FLYING
COLOURS.
What is Section 6 responsible for? - CORRECT ANSWER -Mortgage
Servicing
What is Section 8 responsible for? - CORRECT ANSWER -Kickbacks, Fee
Splitting & Unearned fees
What is Section 9 responsible for? - CORRECT ANSWER -Title Insurance
What is Section 10 responsible for? - CORRECT ANSWER -Escrow
Accounts
What is the max mortgage term (length) allowed for a mortgage to be
classified as a Qualified Mortgage? - CORRECT ANSWER -30 years
Until the loan estimate has been delivered, what fee can a MLO charge? -
CORRECT ANSWER -Credit Report
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Estimate of charges and terms for settlement services must be available for
at least _____________ business days from the time the Loan Estimate is
provided? - CORRECT ANSWER -10
If a new Loan Estimate is required because of a changed circumstance, it
must be disclosed and received by the borrower _________ days prior to
consummation of the loan? - CORRECT ANSWER -Four (4)
How long are Closing Disclosures kept by the Creditor? - CORRECT
ANSWER -5 years
TILA applies to transactions that are payable by (# of installments)? -
CORRECT ANSWER -More than 4
What does ECOA stand for? - CORRECT ANSWER -Equal Credit
Opportunity Act
The loan estimate must be retained for how long? - CORRECT ANSWER -
3 years
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What does HMDA stand for? - CORRECT ANSWER -Home Mortgage
Disclosure Act
What does NOV stand for? - CORRECT ANSWER -Notice of Value
What does CRV stand for? - CORRECT ANSWER -Certificate of
Reasonable Value
What does the "R" stand for in the acronym NMLSR? - CORRECT
ANSWER -REGISTRY
What is a Mortgage Call Report (MCR)? - CORRECT ANSWER -Quarterly
Report required by MLO Company and Mortgage Brokers
Loan originator organizations must keep compensation records for how
many years? - CORRECT ANSWER -3 years
What law deals with credit, APR & advertising of consumer loans? -
CORRECT ANSWER -TILA/REGULATION Z
Which regulation prohibits kickbacks? - CORRECT ANSWER -RESPA
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Which regulations requires the lender to cancel PMI when the loan reaches
78% LTV? - CORRECT ANSWER -HPA - Homeowners Protection Act
Which regulation prohibits fee splitting? - CORRECT ANSWER -RESPA
Regulation X is the letter used to describe which Law? - CORRECT
ANSWER -RESPA
RESPA is the acronym used to describe which law? - CORRECT
ANSWER -Real Estate Settlement Procedures Act
What type of mortgage requires a non-refundable funding fee? -
CORRECT ANSWER -VA Loan
What is the provision in a mortgage enabling a lender to demand full
repayment if the borrower DEFAULTS on the loan? - CORRECT ANSWER
-Acceleration Clause
MLO NMLS EXAM NEWEST
QUESTIONS 2025 WITH CORRECT
SOLUTIONS| PASS WITH FLYING
COLOURS.
What is Section 6 responsible for? - CORRECT ANSWER -Mortgage
Servicing
What is Section 8 responsible for? - CORRECT ANSWER -Kickbacks, Fee
Splitting & Unearned fees
What is Section 9 responsible for? - CORRECT ANSWER -Title Insurance
What is Section 10 responsible for? - CORRECT ANSWER -Escrow
Accounts
What is the max mortgage term (length) allowed for a mortgage to be
classified as a Qualified Mortgage? - CORRECT ANSWER -30 years
Until the loan estimate has been delivered, what fee can a MLO charge? -
CORRECT ANSWER -Credit Report
, Page | 2
Estimate of charges and terms for settlement services must be available for
at least _____________ business days from the time the Loan Estimate is
provided? - CORRECT ANSWER -10
If a new Loan Estimate is required because of a changed circumstance, it
must be disclosed and received by the borrower _________ days prior to
consummation of the loan? - CORRECT ANSWER -Four (4)
How long are Closing Disclosures kept by the Creditor? - CORRECT
ANSWER -5 years
TILA applies to transactions that are payable by (# of installments)? -
CORRECT ANSWER -More than 4
What does ECOA stand for? - CORRECT ANSWER -Equal Credit
Opportunity Act
The loan estimate must be retained for how long? - CORRECT ANSWER -
3 years
, Page | 3
What does HMDA stand for? - CORRECT ANSWER -Home Mortgage
Disclosure Act
What does NOV stand for? - CORRECT ANSWER -Notice of Value
What does CRV stand for? - CORRECT ANSWER -Certificate of
Reasonable Value
What does the "R" stand for in the acronym NMLSR? - CORRECT
ANSWER -REGISTRY
What is a Mortgage Call Report (MCR)? - CORRECT ANSWER -Quarterly
Report required by MLO Company and Mortgage Brokers
Loan originator organizations must keep compensation records for how
many years? - CORRECT ANSWER -3 years
What law deals with credit, APR & advertising of consumer loans? -
CORRECT ANSWER -TILA/REGULATION Z
Which regulation prohibits kickbacks? - CORRECT ANSWER -RESPA
, Page | 4
Which regulations requires the lender to cancel PMI when the loan reaches
78% LTV? - CORRECT ANSWER -HPA - Homeowners Protection Act
Which regulation prohibits fee splitting? - CORRECT ANSWER -RESPA
Regulation X is the letter used to describe which Law? - CORRECT
ANSWER -RESPA
RESPA is the acronym used to describe which law? - CORRECT
ANSWER -Real Estate Settlement Procedures Act
What type of mortgage requires a non-refundable funding fee? -
CORRECT ANSWER -VA Loan
What is the provision in a mortgage enabling a lender to demand full
repayment if the borrower DEFAULTS on the loan? - CORRECT ANSWER
-Acceleration Clause
