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The text is organized into chapters that reflect the test outline including summaries of critical topics, key terms, examples, and quizzes. In addition, there are two sample 100-question multiple choice tests with correct answers and rationales included, that reflect the subject breakdown of the National MLO Test.
Highlights include:
A thorough review of federal mortgage lending-related laws, including the Truth in Lending Act, the Real Estate Settlement Procedures Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, and others.
- A summary of key concepts related to mortgage lending, for example, conforming vs. nonconforming loans, adjustable rate mortgages and nontraditional mortgage loan products, and general real estate terms.
- An overview of the mortgage loan origination process, including qualifying standards, loan programs, settlement procedures, and lending calculations.
- A review of ethical issues, including a summary of laws related to fair lending and discussions on mortgage fraud and predatory lending.
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This material is designed to assist you in studying for and passing your National Exam. We are however, not able to guarantee that the purchase and use of this material will assure that you pass the exam. Sales are final and the materials are not refundable and/or returnable.
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