Mortgage Loan Originators Exam Study Guide

Mortgage Loan Originators Exam Study Guide

By William Piontek

  • Release Date : 2016-03-10
  • Genre : Study Aids
  • FIle Size : 72.90 MB
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Mortgage Loan Originators Exam Study Guide This book is up to day with all the new Regs and changes up to February, 2016. It contains hundreds of questions, illustrations and charts.   Most information is cross-linked (Hyper-linked) to allow easy and quick access to related material.   It contains everything a person needs to pass, and hopefully ACE the NMLS Mortgage Loan Officer’s Federal and State exam.  

This book includes the RESPA/TILA merged document regulations which became effective October 3, 2015.    

The merger does away with the GFE (Good Faith Estimate), TILA (Truth in Lending Statement) and the HUD-1 in several loans such as the traditional 30 year fixed rate mortgage, the ARM (Adjustable Rate Mortgage) and the Hybrid (Fixed rate note for 3,5 or 7 years followed by an ARM for the balance of the mortgage). The old paperwork will remain for Reverse Mortgages and HELOCs (Home Equity Line of Credit).  

The new loan format will now use the new forms known as the “Loan Estimate” and The “Closing Disclosure.”   The only really confusing part about all this are the different definitions of a “Business Day.”   In some cases it’s when the mortgage broker is open for business, other new regs use the standard definition which is “any calendar day except Sunday and legal holidays.”    There is a chart which makes learning these a little easier.  
The SAFE MLO Test is a confidential, copyrighted   test, and you cannot share or discuss the content.


  • Pass the test

    By loan-guy
    After I finished the 20 hour course I was still a little overwhelmed with all the information. I used this book to simplify things and it worked. I passed my test on the first try. Highly recommend.
  • Just ok

    By auntiekda
    I thought it would be great. It started out nicely, then about page 20 the "more info" link stopped working. When you get a question wrong and want more info, it just says "enter text". I also don't understand why there is a test before you work through the book.

    By Germovsek3
    This is a great supplemental resource if you are preparing for the NMLS SAFE MLO exam. After receiving two weeks of training and being brand new to the industry I scored a 66% and did not pass the exam on my first attempt. I was lucky enough to have the support of my company and had an opportunity to get a 2nd attempt (30 days later). I continued to study with the proschools material I already had. I also purchased this book and reviewed it daily leading up to the exam. It provided comprehensive chapters with review questions that were really helpful! The questions and chapters provide great tips and insight to possible "trick" questions. Overall this is a great resource and it helped me pass the test with an 86% on my second attempt!