You definitely should try MLO exam questions! I couldn't believe that they are 100% valid, just wanna know what to expect on exam, then you will pass.



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| Section | Weight | Objectives |
|---|---|---|
| Uniform State Content | 11% | - State Regulatory Content
|
| Mortgage Loan Origination Activities | 27% | - Loan Origination Process
|
| General Mortgage Knowledge | 20% | - Mortgage Fundamentals
|
| Federal Mortgage-Related Laws | 24% | - Federal Mortgage Laws
|
| Ethics | 18% | - Ethical Practices
|
Which of the following factors is not required to be taken into account when determining a borrower's ability to repay a loan?
Correct Answer: C 🗳️
Explanation: Only visible for PracticeDump members. You can sign-up / login (it's free).
A mortgage loan originator (MLO) takes an application for a borrower who is obtaining an owner-occupied maximum amount refinance loan. The borrower also asks for a loan application for a new house that they are purchasing that will not be finished until 60 days after the refinance loan closes. Although the MLO advises the borrower that the terms of the refinance loan require that they occupy the property for 12 months, the borrower says that the new purchase loan will not close until after the refinance loan has closed. The MLO must:
Correct Answer: A 🗳️
Explanation: Only visible for PracticeDump members. You can sign-up / login (it's free).
Which of the following is an acceptable reason for denying a forward mortgage under the Equal Credit Opportunity Act (ECOA)?
Correct Answer: B 🗳️
Explanation: Only visible for PracticeDump members. You can sign-up / login (it's free).
In the loan application process, when must specific disclosures be provided to a borrower for an ARM?
Correct Answer: C 🗳️
Explanation: Only visible for PracticeDump members. You can sign-up / login (it's free).
A charge payable by the consumer and imposed by the creditor as an incident to or a condition of the extension of credit is the:
Correct Answer: B 🗳️
Explanation: Only visible for PracticeDump members. You can sign-up / login (it's free).
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