Prepare with NMLS MLO exam practice material, pass for sure

Updated: Jun 07, 2026

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NMLS Mortgage Loan Origination (SAFE MLO) Sample Questions:

1. A mortgage loan originator (MLO) submits a refinance application for a primary residence. However, if the MLO later discovers that the property is no longer occupied by the borrower, which of the following actions, if any, should the MLO take?

A) Take no action as the property was occupied at the time of application
B) Allow the application to be underwritten before raising any concerns
C) Notify the MLO's employer and/or the mortgage lender of the discovery
D) Allow the mortgage loan processor and/or underwriter to discover this through their due diligence processes


2. No more than how many days before calling any consumer should a company access the National Do Not Call Registry and maintain records documenting this process?

A) 31 days
B) 45 days
C) 14 days
D) 60 days


3. On an FHA-insured loan, the FHA insurance protects the lender in the event that:

A) The property suffers damage causing the value to fall below the appraised value.
B) The lender is not able to find an investor to purchase the loan.
C) There is a prior lien against the property.
D) The borrower is unable to pay the loan.


4. Which of the following information must be included in advertisements?

A) An NMLS unique identifier
B) Mortgage loan originator contact information
C) Estimated loan closing time frames
D) A statement of an unrealistic interest rate


5. If a borrower is using commission income for 25% or more of their total income, the FHA lender will:

A) Only accept one-half of the claimed commission income.
B) Request two years of signed tax returns proving receipt of the income.
C) Only accept the commission income if it has been steady for three years.
D) Disregard the commission income completely.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: D
Question # 4
Answer: A
Question # 5
Answer: B

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