Publications
Guides
Reference pages on how the exam and its rules work, newest first.
- What a SAFE MLO test pass does and does not do
A pass clears one of six minimum standards and is good in every state. NMLS licenses nobody: the state agency does, and an unused pass expires after five years.
- Mortgage fraud schemes and SAR filing rules
Non-bank mortgage originators have filed suspicious activity reports since 2012. The $5,000 trigger, the 30 and 60 day deadlines, five year retention.
- Mortgage advertising rules: Regulation N and Z
Regulation N bars 19 kinds of misrepresentation in mortgage ads and keeps records 24 months. Regulation Z s. 1026.24 sets triggering terms and seven bans.
- Higher-priced vs high-cost mortgage tests
HPML turns on one APR test at 1.5, 2.5 or 3.5 points over APOR. HOEPA has three tests: APR at 6.5 or 8.5, points and fees, and the prepayment penalty terms.
- The loan originator compensation rule
Regulation Z s. 1026.36 bars pay based on a loan term or a proxy, bars dual compensation, and sets the three-option anti-steering safe harbor.
- Business days under TRID: does Saturday count?
Regulation Z carries two business day definitions. The precise one counts Saturday and drops Sundays and federal holidays. Which rule uses which, in a table.
- Loan originator license denial and revocation
A revoked license anywhere is a permanent bar. A felony inside seven years bars, and fraud, dishonesty, breach of trust or money laundering bars forever.
- The 20-hour pre-licensing education rule
Twenty hours approved by NMLS: 3 of federal law, 3 of ethics, 2 on nontraditional products. The SAFE Act sets the floor and states add hours on top.
- The SAFE MLO test content outline and weights
Five content areas: Federal Mortgage-Related Laws 24 percent, Uniform State Content 11, General Mortgage Knowledge 20, Origination Activities 27, Ethics 18.
- SAFE MLO test day at a Prometric center
One current government-issued photo ID with a signature, a name matching NMLS, and 30 minutes early. Everything else goes in a locker. 120 items, 190 minutes.