2025 MLO EXAM SCORE | LATEST NMLS MLO: MORTGAGE LOAN ORIGINATION (SAFE MLO) EXAM 100% PASS

2025 MLO Exam Score | Latest NMLS MLO: Mortgage Loan Origination (SAFE MLO) Exam 100% Pass

2025 MLO Exam Score | Latest NMLS MLO: Mortgage Loan Origination (SAFE MLO) Exam 100% Pass

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NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q61-Q66):

NEW QUESTION # 61
How often must a nonexempt telemarketing entity check their call list against the National Do Not Call Registry?

  • A. Every 2 weeks
  • B. Annually
  • C. Every 7 days
  • D. Every 31 days

Answer: D


NEW QUESTION # 62
If an applicant provides a waiver for the requirement to receive their appraisal three business days prior to a loan's consummation and the transaction ends up not closing at all, a creditor must still provide a copy of the appraisal no later than how many days after the creditor determines consummation will not occur?

  • A. 60 days
  • B. 30 days
  • C. 10 days
  • D. 45 days

Answer: B

Explanation:
According to ECOA (Equal Credit Opportunity Act) and Regulation B, if a borrower waives the right to receive their appraisal three business days before consummation, and the transaction does not close, the creditor must still provide a copy of the appraisal within 30 days of determining that the loan will not consummate.
* This ensures that borrowers still receive essential documentation, even if the loan fails to close.
References:
* ECOA (Equal Credit Opportunity Act), 12 CFR §1002.14(a)(1)
* CFPB Guidelines on appraisal delivery timelines


NEW QUESTION # 63
Maximum available flood insurance structure coverage for a residential property from the National Flood Insurance Program is what amount?

  • A. £500,000
  • B. £250,000
  • C. $750,000
  • D. $1,000,000

Answer: B

Explanation:
The maximum available flood insurance structure coverage for a residential property under the National Flood Insurance Program (NFIP) is £250,000. The NFIP is a federal program that provides flood insurance to property owners in participating communities.
* The £250,000 limit applies specifically to residential property structures. For contents coverage, the maximum is $100,000.
Higher coverage limits, such as $500,000 or $1,000,000, may be available through private insurers, but the NFIP itself caps coverage at $250,000 for structures.
References:
* National Flood Insurance Program (NFIP)
* FEMA Flood Insurance Manual


NEW QUESTION # 64
Which of the following reasons is acceptable for denying a loan under the Equal Credit Opportunity Act (ECOA)?

  • A. Marital status
  • B. Country of birth
  • C. Receipt of child support
  • D. Immigration status

Answer: D

Explanation:
Under the Equal Credit Opportunity Act (ECOA), lenders can deny a loan based on immigration status, as it directly relates to the borrower's ability to legally reside and work in the country. Lenders must ensure that the borrower has the legal capacity to enter into a binding contract and that they are authorized to work in the U.S. for the loan's duration.
* Receipt of child support (A), marital status (C), and country of birth (D) are protected characteristics under ECOA, meaning a lender cannot deny credit based on these factors.
References:
* Equal Credit Opportunity Act (ECOA), 15 U.S.C. §1691
* CFPB Regulation B


NEW QUESTION # 65
Which of the following statements describes an advantage of a purchase money second mortgage?

  • A. The borrower's loan closes faster than a regular mortgage.
  • B. The borrower pays two mortgage payments.
  • C. The borrower avoids paying into the escrow account.
  • D. The borrower avoids paying private mortgage insurance

Answer: D

Explanation:
A purchase money second mortgage allows a borrower to avoid paying private mortgage insurance (PMI) by using a second loan to cover part of the down payment. This structure, often referred to as a "piggyback loan", is commonly used when a borrower does not have a 20% down payment but wants to avoid PMI, which is typically required for loans with less than 20% down.
* The borrower makes payments on both the primary mortgage and the second mortgage, but by keeping the loan-to-value (LTV) on the first mortgage below 80%, they can avoid PMI.
References:
* Fannie Mae Selling Guide on purchase money mortgages
* Freddie Mac Guidelines on private mortgage insurance


NEW QUESTION # 66
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