NMLS MORTGAGE ORIGINATOR EXAM 2026 327+ 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 Safe Exam 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. What is the minimum down payment for a USDA loan?
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[Verified Solution]: $0 dd dddd




Q2. How many hours of continuing education are minimally required?
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[Verified Solution]: 8 hours every year
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Q3. Who is responsible for completing the HUD-1/Loan Disclosure?
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[Verified Solution]: The closing agent
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Q4. A mortgagor's title insurance policy is:
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[Verified Solution]: Based on purchase price
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Q5. The assignee of a mortgage and note is participating in the:
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[Verified Solution]: Secondary mortgage market
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Q6. VA loans are:
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[Verified Solution]: Partially guaranteed
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,Q7. The late fee for a VA loan is:
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[Verified Solution]: 4% of principal and interest
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Q8. The purchase price of a home is $325,000 and the appraisal price is $350,000. If the first
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mortgage is in the amount of $200,000 and the second mortgage is $60,000, what is the combin
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ed loan-to-value ratio?
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[Verified Solution]: 80.0% dd dddd




Q9. The purchase price of a home is $375,000 and the buyer will assume a $175,000 first mort
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gage. The loan-to-
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value cannot exceed 85%. What is the maximum amount of the new second mortgage?
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[Verified Solution]: $144,750 dd dddd




Q10. What clause in a mortgage allows the lender to call the entire loan balance due?
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[Verified Solution]: Acceleration dd dddd




Q11. PITI payments do NOT include which of the following:
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[Verified Solution]: Funding fee dd dddd dd




Q12. Who does Fannie Mae hold responsible for the quality of an appraisal?
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[Verified Solution]: Appraiser dd dddd




Q13. Which law is known as Regulation B?
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[Verified Solution]: Equal Credit Opportunity Act
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Q14. Which law prohibits discrimination by lenders?
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[Verified Solution]: Equal Credit Opportunity Act
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Q15. A property sold for $200,000 and was appraised at $180,000. The borrower reserved a lo
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an for $150,000. What is the loan-to-value?
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[Verified Solution]: 83.3% dd dddd

,Q16. How many days does a lender have to send an adverse action notice?
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[Verified Solution]: 30 dd dddd




Q17. The GFE/Loan Estimate must be mailed or given to the borrower within how many day
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s after receiving the signed application?
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[Verified Solution]: 3 business days
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Q18. The enforcement of a lien is known as:
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[Verified Solution]: Foreclosuredd dddd




Q19. What minimum percentage of ownership in a related service requires a conflict of intere
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st disclosure?
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[Verified Solution]: 1% dd dddd




Q20. What minimum percentage of ownership qualifies an individual as self-employed?
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[Verified Solution]: 25% dd dddd




Q21. What government agency enforces ECOA?
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[Verified Solution]: CFPB dd dddd




Q22. A lender can discriminate based on:
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[Verified Solution]: Credit history
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Q23. How many days does a lender have after receipt of an application to notify the applicant
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of its action on the application?
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[Verified Solution]: 30 dd dddd

, Q24. How many days does an applicant have after receipt of an adverse action notice to reque
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st a statement of reasons from the lender?
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[Verified Solution]: 60 dd dddd




Q25. How many days does a lender have to send a statement of reasons for an adverse action
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after receiving a request from an applicant?
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[Verified Solution]: 30 dd dddd




Q26. The Truth-In-Lending Act (TILA) is implemented as:
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[Verified Solution]: Regulation Z
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Q27. The Truth-In-Lending Act (TILA) was implemented by the:
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[Verified Solution]: Federal Reserve Board
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Q28. The Truth-In-Lending Act is administered by:
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[Verified Solution]: CFPB dd dddd




Q29. The TILA disclosure must be given to the applicant within how many days after receivi
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ng the signed loan application for a reverse mortgage?
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[Verified Solution]: 3 business days
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Q30. Which of the following is NOT a trigger term?
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[Verified Solution]: 48 easy payments
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Q31. Which of the following does not constitute mortgage fraud on the part of a borrower?
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[Verified Solution]: Including a public-assistance as part of his or her income
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Q32. Which of the following fraud schemes involves real estate professionals lying to lenders a
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bout the value of a foreclosed property?
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[Verified Solution]: House flipping
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