NMLS SAFE MORTGAGE ORIGINATOR EXAM 2026 109+ COMPLETE EXAM QUESTIONS AND ANSWERS 100% VERIFIED A+ GRADE ASSURED!!!!! NEW LATEST UPDATE!!!!!

FINAL EXAMINATION PAPER dd dd




NMLS SAFE MORTGAGE LOAN ORIGINATOR EXAM QUESTIONS ANSWERS
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STUDENT NAME: ________________________________
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COURSE: NMLS Final Exam () dd dd dd dd TIME: _____________
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EXAM CODE: NMLS SAFE MORTGAGE LOAN ORIGINAT
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OR EXAM QUESTIONS ANSWERS-101
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EXAM INSTRUCTIONS:
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1. Print your full name and date clearly in the header above.
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2. This exam booklet contains both Test Questions (Part I) and Verified Solutions (Part II).
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3. Answer all multiple-choice questions clearly. Double-check your work.
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4. Do not break the seal or open this booklet until instructed to do so by the proctor.
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Q1. Which is NOT a function of the secondary market?
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[Verified Solution]: serve as a depository for consumer assets
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Q2. The Consumer Financial Protection Bureau was created by the
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[Verified Solution]: Dodd-Frank Act
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Q3. Mortgage Brokers
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[Verified Solution]: act as intermediaries between borrowers and lenders
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Q4. Which entity was established in 1932 as a cooperative to finance housing in local commun
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ities?
[Verified Solution]: Federal Home Loan Banks
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Q5. Which is NOT a primary lender for residential properties?
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[Verified Solution]: insurance companies
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Q6. Which statement about Ginnie Mae is TRUE?
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[Verified Solution]: guarantees mortgage-backed securities
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, Q7. The Consumer Financial Protection Act combined consumer protection responsibilities un
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der the CFPB from the following agencies EXCEPT the
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[Verified Solution]: Department of Commerce
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Q8. Which GSE holds the largest amount of home loan mortgages?
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[Verified Solution]: Federal National Mortgage Association
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Q9. Mary receives a monthly child support payment pursuant to a judgement of divorce. Bob
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receives a monthly check because of a military injury. John is a minister and receives money e
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very month for living expenses. These are examples of
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[Verified Solution]: nontaxable income dd dddd dd




Q10. If a borrower is self employed, they should provide
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[Verified Solution]: tax returns for the previous two years
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Q11. Bob and Mary are providing a gift to their daughter as a down payment for the purchas
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e of a home. They provide a current bank statement, a copy of their check to their daughter, a
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nd a copy of the deposit slip into her account. She provides a current ledger from her account
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showing the deposit. What else is missing?
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[Verified Solution]: gift letter signed by the donor stating no repayment is expected
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Q12. To be classified as "self employed", the borrower must own at least what percentage of t
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he business?
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[Verified Solution]: 25% dd dddd




Q13. The majority of lenders throughout the country have incorporated into their convention
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al loan underwriting procedures the standards set by the major secondary market investors, s
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pecifically
[Verified Solution]: Fannie Mae and Freddie Mac
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