Mortgage loan originator Study guides, Class notes & Summaries
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SAFE Mortgage Loan Originator Test - National Component with Uniform State Content
- Exam (elaborations) • 35 pages • 2024
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What does UST stand for? - Uniform State Test 
Who does the CFPB protect? - The Consumer Financial Protection Bureau protects consumers in the 
financial marketplace. 
What does the CFPB do? - CFPB is now in charge of implementing and enforcing most of the 
provisions of federal lending laws that relate to protecting consumers while they are shopping for, 
securing, and paying off mortgages. 
What is the purpose of RESPA? (3 things) - a.Protect consumers from excessive settlement costs and 
unea...
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Mortgage Loan Originator Safe Exam Prep | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 25 pages • 2024
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Mortgage Loan Originator Safe Exam 
Prep | 100% Correct Answers | Verified | 
Latest 2024 Version
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SAFE MORTGAGE LOAN ORIGINATOR EXAM 2024
- Exam (elaborations) • 9 pages • 2024
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SAFE MORTGAGE LOAN ORIGINATOR EXAM 2024 
 
 
1. A discount point is BEST described as a charge the borrower pays to: - correct answer A. A lender to decrease the interest rate on the mortgage loan 
 
2. A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be credited at closing on a property with a sale price of $160,000. If the required down payment is 20%, how much additional money will the buyer need to provide toward the down payment at...
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SAFE MORTGAGE LOAN ORIGINATOR EXAM 2024 WITH 100% CORRECT ANSWERS
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SAFE MORTGAGE LOAN ORIGINATOR EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Prequalification - correct answer an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards 
 
USDA ratio - correct answer 29/41 
 
FHA ratio - correct answer 31/43 
 
Asset based loan - correct answer -loans based on borrowers equity 
-bad when lenders fail to consider ability to repay 
 
High Cost Loan - correct answer Reg Z - Sec. 1026.32 
-APR will exceed by more t...
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MORTGAGE LOAN ORIGINATOR EXAM 2024
- Exam (elaborations) • 7 pages • 2024
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MORTGAGE LOAN ORIGINATOR EXAM 2024 
 
 
What does RESPA stand for? - correct answer The Real Estate Settlement Procedures Act (Regulation X) 
 
What does ECOA stand for? - correct answer Equal Credit Opportunity Act (Regulation B) 
 
What does TILA stand for? - correct answer Truth In Lending Act (Regulation Z) 
 
What does TRID stand for? - correct answer TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Befo
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SAFE Mortgage Loan Originator Test 2024
- Exam (elaborations) • 16 pages • 2024
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SAFE Mortgage Loan Originator Test 2024...
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SAFE Mortgage Loan Originator Test 2024
- Exam (elaborations) • 16 pages • 2024
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SAFE Mortgage Loan Originator Test 2024...
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The SAFE Mortgage Loan Originator National Exam Study Guide practice exam 2 with Complete Solutions
- Exam (elaborations) • 15 pages • 2024
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The SAFE Mortgage Loan Originator 
National Exam Study Guide practice 
exam 2 with Complete Solutions 
 
1. Which of the following is NOT a loan origination activity? C. Assisting in a loan 
modification 
 
2. A unilateral contract is binding on: A. One party 
 
3. Loan originator organizations must keep compensation records for how many years? C. 
Three 
 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR 
every: B. Three months 
 
5. How many years m...
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Mortgage Loan Originator Exam 2023-2024
- Exam (elaborations) • 27 pages • 2023
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Mortgage Loan Originator Exam ...
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Mortgage Loan Originator Safe Exam Prep | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 25 pages • 2024
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An application for a mortgage loan has been denied and, as required by Regulation B, an Adverse Action 
Notice has been delivered to the applicant. Which of the following is not included on the Adverse Action 
Notice? 
a. Disclosure of the applicant's credit score 
b. Statement of reasons for credit denial 
c. The right to dispute the credit denial 
d. Disclosure of use of information obtained from an outside source - The right to dispute the credit 
denial 
Under the Home Ownership Equity Prot...
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