NMLS Mortgage Loan Origination Practice Questions
Content area 4 of 5 on the SAFE MLO Test · 27% of the test, about 31 of the 115 scored questions
120 questions across all five content areas in 190 minutes, with a score for Loan Origination so you know where you stand.
Free Loan Origination drillBefore mailing a verification of employment and a verification of deposit, what does the lender need from the borrower?
Mortgage Loan Origination Activities on the NMLS test
Mortgage Loan Origination Activities is the largest area of the SAFE MLO Test: 27%, about 31 of the 115 scored questions. It follows a loan from the first inquiry to funding: taking and verifying the application, giving the right disclosures on time, qualifying the borrower, ordering the appraisal and title work, closing, and doing the arithmetic along the way.
- Share of the exam
- 27% in the official content outline, about 31 of the 115 scored questions
- Our drill
- 10 questions from 135 Loan Origination questions, untimed, an explanation after every answer; one free attempt, unlimited with a pass
What Loan Origination questions test
- The application: required disclosures, permissible questions, gift letters and donors, verification authorizations, assets, employment, and choosing a suitable product
- Accuracy and timing: zero-tolerance and 10%-tolerance charges, curing a tolerance violation, the initial and revised Loan Estimate, the Closing Disclosure, the homeownership counseling list and affiliated business disclosures
- Qualification: income, assets, liabilities and credit reports, debt-to-income and loan-to-value ratios, and the ability-to-repay rule
- Appraisals (sales comparison, income and cost approaches, independence and timing), title reports and title insurance, flood, hazard and mortgage insurance
- Closing: who may sign the security instrument, powers of attorney, closing documents, fees, prepaid items and escrows, and funding after the rescission period
- Calculations: periodic interest, monthly payments, down payments, closing costs and prepaids, ARM rate and payment adjustments
Sit the full exam under the real clock
120 questions across all five content areas in 190 minutes, with a score for Loan Origination so you know where you stand.
Free Loan Origination drillHow to study it
- Practice the math until it is routine: DTI = monthly debts ÷ gross monthly income; LTV = loan ÷ the lower of price or appraised value; one discount point = 1% of the loan amount; per diem interest = loan × rate ÷ the days in the year the lender uses.
- Write the tolerance buckets from memory and place twenty fees in them; tolerance questions are reliable points.
- Walk one loan from application to funding and name the disclosure due at each step.
- Take the loan origination drill and read every worked calculation, even on questions you got right.
Common questions
Is there math on the NMLS test?
Yes. The outline lists financial calculations in the Mortgage Loan Origination Activities area: periodic interest, monthly payments, down payments, closing costs and prepaids, and ARM adjustments. DTI and LTV ratios appear under qualification.
How many loan origination questions are on the NMLS test?
Mortgage Loan Origination Activities is 27% of the test, about 31 of the 115 scored questions, the largest of the five areas.
120 questions across all five content areas in 190 minutes, with a score for Loan Origination so you know where you stand.
Free Loan Origination drillThe other NMLS content areas
Sources
- NMLS MLO Testing Handbook: test specifications (120 items, 115 scored, 190 minutes, $110)
- NMLS: SAFE MLO National Test with Uniform State Test Content Outline
- NMLS MLO Testing Handbook: test results and the 75% passing score
- NMLS MLO Testing Handbook: retaking a failed test (30 / 30 / 180 days)
- NMLS: Test Performance Information (53% first-time pass rate)
- CFPB: TILA-RESPA Integrated Disclosure (TRID) rule
- eCFR: Regulation Z, 12 CFR 1026.19 (Loan Estimate and Closing Disclosure timing)
Original practice questions for exam preparation, written to the SAFE MLO National Test with Uniform State Test Content Outline. Independent practice, not affiliated with or endorsed by NMLS, the Conference of State Bank Supervisors (CSBS) or the State Regulatory Registry.