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Exam Information
Official specifications published by NMLS
Exam Format
190 min
125
75
Professional
Registration
$110 USD
Prometric or online proctoring
Validity
Permanent (with continuing education)
Complete 8 hours annual continuing education; Maintain active state license; Renew through NMLS annually by December 31
MLO Exam Topics and Domains
MLO is organized into 5 weighted domains. Expect to work with Closing Disclosure form, Closing Disclosure forms, Desktop Underwriter (DU), Fannie Mae, and more.
1
Federal Mortgage-Related Laws
24%
Truth in Lending Act (TILA)
Regulation Z (12 CFR Part 1026)Loan Originator Compensation Rules
- Understand TILA disclosure requirements and timing
- Calculate APR and finance charges correctly
- Apply rescission rights appropriately
- Identify prohibited lending practices
Real Estate Settlement Procedures Act (RESPA)
Regulation X (12 CFR Part 1024)
- Identify RESPA violations and prohibited practices
- Understand disclosure requirements and timing
- Apply Section 8 anti-kickback provisions
Equal Credit Opportunity Act (ECOA)
Regulation B (12 CFR Part 1002)
- Recognize discriminatory practices
- Apply fair lending principles
- Understand adverse action requirements
TILA-RESPA Integrated Disclosure (TRID)
Know Before You Owe Rules
- Understand TRID timing requirements
- Apply tolerance rules correctly
- Identify when revised disclosures are required
Other Federal Laws
Fair Housing ActSAFE Act RequirementsAdditional Federal Laws
- Apply fair housing principles
- Understand SAFE Act compliance
- Recognize privacy and disclosure requirements
2
General Mortgage Knowledge
20%
Mortgage Loan Types
Conventional LoansGovernment Loans
- Distinguish between loan types
- Understand qualification requirements
- Calculate insurance requirements
Mortgage Concepts and Terminology
Interest Rate TypesLoan Terms and Features
- Calculate mortgage payments
- Understand loan structures
- Identify loan risks
Mortgage Process
Loan Application ProcessClosing Process
- Understand application requirements
- Navigate the closing process
- Calculate closing costs
3
Mortgage Loan Origination Activities
27%
Taking Applications
Application Requirements
- Complete accurate loan applications
- Understand regulatory requirements
- Provide appropriate counseling
Processing Applications
Verification and DocumentationFraud Prevention
- Verify borrower information accurately
- Detect and prevent fraud
- Maintain documentation standards
Underwriting
Qualification StandardsProperty Requirements
- Calculate qualifying ratios
- Evaluate creditworthiness
- Assess property eligibility
Closing and Funding
Closing Procedures
- Manage closing procedures
- Ensure compliance at closing
- Handle post-closing issues
4
Ethics
18%
Fair Lending
Anti-Discrimination Laws
- Apply fair lending principles
- Recognize discriminatory practices
- Ensure equal treatment
Consumer Protection
Unfair and Deceptive PracticesPrivacy and Confidentiality
- Protect consumer information
- Avoid deceptive practices
- Ensure transparent communication
Fraud
Mortgage Fraud Types
- Identify fraud indicators
- Implement prevention measures
- Report suspicious activity
Ethical Standards
Professional Conduct
- Maintain professional standards
- Manage conflicts appropriately
- Uphold fiduciary duties
5
Uniform State Content
11%
State Regulatory Structure
State Licensing Requirements
- Understand state requirements
- Maintain license compliance
- Navigate state regulations
Uniform State Law
Model State Law
- Apply uniform state standards
- Maintain required records
- Ensure advertising compliance
How do I earn this certification?
Passing MLO earns the State-Licensed Mortgage Loan Originator certification. It sits in the Mortgage Lending track.
Current Level Exams
- SAFE_MLO_National - National Component
- SAFE_MLO_State - State Component (varies by state)
Next Level Options
- Certified Mortgage Banker (CMB)
- Certified Residential Mortgage Specialist (CRMS)
- Certified Mortgage Consultant (CMC)
Alternative Paths
- Series_7 - General Securities RepresentativeExpand into investment products
- CFP - Certified Financial Planner Comprehensive financial services
- NMLS_SLR - State Licensing Requirements License in multiple states
Practice with Precision
The PlanetCert Simulator mirrors the real exam environment with authentic questions and timed pressure.
How to study for this exam?
The most effective way to prepare for MLO is by using the PlanetCert Simulator to practice questions and review detailed explanations.
What's changed on this exam?
Current Status
- ACTIVE
- Last content update: 2024-01-01
Updates
- Digital Mortgage Platforms 2024 Standards Questions on e-signatures, remote notarization • Release date: 2024-01-01
- Automated Underwriting Systems DU 12.0 / LPA 5.0 Updated AUS decision categories and requirements • Release date: 2024-06-01
Who should take this exam?
- 20-hour NMLS Pre-Licensing Education (highly recommended but not required before exam)
- Experience in mortgage lending or finance
- Understanding of federal mortgage regulations