SAFE MLO EXAM _ UNIFORM STATE CONTENT
A licensed loan originator who is an instructor of an approved Continuing Education
course may receive credit for the licensed loan originator's own annual Continuing
Education requirement at the rate of:
Two hours of credit for every one hour taught.
One hour of credit for every one hour taught.
Instructors may not receive credit in this way.
Three hours of credit for every one hour taught.
An instructor can receive credit for their own CE at a rate of 2 hours per every 1 hours
taught. For example, an instructor teaches one 8 hour continuing education course, they
technically would get 16 hours of continuing education for that one class.
The following definition describes which of the following:
Any loan primarily for personal, family, or household use that is secured by a mortgage,
deed of trust, or other equivalent consensual security interest on a dwelling or
residential real estate upon which it is constructed, or intended to be constructed, a
dwelling.
Nontraditional Home
Residential Mortgage Loan
Construction Loan
Residential Real Estate
A residential mortgage loan is any loan primarily for personal, family, or household use
that is secured by a mortgage, deed of trust, or other equivalent consensual security
interest on a dwelling or residential real estate upon which it is constructed, or intended
to be constructed, a dwelling.
Background checks performed by the Regulatory Authority do not include:
civil, or criminal findings by a governmental agency.
administrative findings by a governmental agency.
medical findings by a governmental agency.
a Credit Report.
Medical records are not something that would come up on a borrower's criminal
background or credit report.
An MLO is looking to expand their business into the neighboring state, what provision
allows them to practice as an MLO in that state while their license application is being
processed?
TRID
Their license in their home state allows them exemption in another state
This is never allowed
Temporary Authority
Temporary authority allows for an MLO licensed in another state, to operate in a new
state while the license application is processed. Temporary authority can also be used
by a registered MLO to transition to a licensed MLO or moving from a financial
institution to a non-financial company without having to wait for their license application
A licensed loan originator who is an instructor of an approved Continuing Education
course may receive credit for the licensed loan originator's own annual Continuing
Education requirement at the rate of:
Two hours of credit for every one hour taught.
One hour of credit for every one hour taught.
Instructors may not receive credit in this way.
Three hours of credit for every one hour taught.
An instructor can receive credit for their own CE at a rate of 2 hours per every 1 hours
taught. For example, an instructor teaches one 8 hour continuing education course, they
technically would get 16 hours of continuing education for that one class.
The following definition describes which of the following:
Any loan primarily for personal, family, or household use that is secured by a mortgage,
deed of trust, or other equivalent consensual security interest on a dwelling or
residential real estate upon which it is constructed, or intended to be constructed, a
dwelling.
Nontraditional Home
Residential Mortgage Loan
Construction Loan
Residential Real Estate
A residential mortgage loan is any loan primarily for personal, family, or household use
that is secured by a mortgage, deed of trust, or other equivalent consensual security
interest on a dwelling or residential real estate upon which it is constructed, or intended
to be constructed, a dwelling.
Background checks performed by the Regulatory Authority do not include:
civil, or criminal findings by a governmental agency.
administrative findings by a governmental agency.
medical findings by a governmental agency.
a Credit Report.
Medical records are not something that would come up on a borrower's criminal
background or credit report.
An MLO is looking to expand their business into the neighboring state, what provision
allows them to practice as an MLO in that state while their license application is being
processed?
TRID
Their license in their home state allows them exemption in another state
This is never allowed
Temporary Authority
Temporary authority allows for an MLO licensed in another state, to operate in a new
state while the license application is processed. Temporary authority can also be used
by a registered MLO to transition to a licensed MLO or moving from a financial
institution to a non-financial company without having to wait for their license application
