National Exam Test-Prep

Course National Exam Test-Prep price $119

This course includes the following:
Federal Law 100 – TILA
Federal Law 200 – RESPA and SAFE
Federal Law 300 – Credit and Information
FHA100 – Introduction to FHA
S 5 – Lead Sheet and Information you Need on Every Loan
S 6 – Loan Application in Detail
S 7 – Credit Reports
S 8 – Appraisals
S10 – Title Insurance
S13 – Mortgage Loan Processing
S14 – Quality Control, Compliance, Fraud and Ethics
S15 – Mortgage Loan Submission
S16 – The Closing
S20 – Calculating Loan To Value and Debt To Income Ratios
S34 – Alt 200 – Nontraditional Mortgages ARMs and IOs
S35 – Alt 300 – Nontraditional Mortgages Fixed Rate
S36 – Ethics 100 – Ethics, Fair Lending and Fraud
S37 – Loans100 – Loan Basics
VA-101 – Basics of VA Lending

This Course is a Comprehensive Test-Prep for the SAFE Required National Exam.  Why not get all the help you can to prepare!

It includes:

  • Comprehensive courseware that follows the national exam
  • Unlimited practice tests from our database of over 1000 questions!
  • Hundreds of pages of materials well-organized into over 80 lessons
  • Each question you answer incorrectly links to the section where you can get the answer!

NOTE: This course will help you pass the exam, but does not satisfy the education prerequisite


SAFE Mortgage Loan Originator Test — National Component

Content Outline

(90 scored test questions; 10 unscored test questions)


I. Federal mortgage-related laws (35%)

B. Equal Credit Opportunity Act (Reg. B)
C. Truth-in-Lending Act (Reg. Z and HOEPA)
E. Other Federal laws and guidelines

1. Home Mortgage Disclosure Act (HMDA)
2. Fair Credit Reporting Act
3. Privacy protection / Do Not Call
4. FTC Red Flag Rules (Fair and Accurate Credit Transactions Act of 2003)

II. General mortgage knowledge (25%)

A. Mortgage programs

1. Conventional/conforming
2. Government (FHA, VA, USDA)
3. Conventional/nonconforming (Jumbo, Alt-A, etc.)

a. Statement on Subprime Lending
b. Guidance on Nontraditional Mortgage Product Risk

B. Mortgage loan products

1. Fixed
2. Adjustable
3. Balloon
4. Other (home equity [fixed and line of credit], construction, reverse mortgage, interest-only)

C. Terms used in the operation of the mortgage market

1. Loan terms
2. Disclosure terms
3. Financial terms
4. General terms

III. Mortgage loan origination activities (25%)

A. Application information and requirements

1. Application accuracy (truthfulness) and required information (e.g., 1003)

a. Customer
b. Loan originator
c. Verification and documentation

2. Suitability of products and programs
3. Disclosures

a. Accuracy
b. Timing

B. Qualification: processing and underwriting

1. Borrower analysis

a. Assets
b. Liabilities
c. Income
d. Credit report
e. Qualifying ratios (e.g. housing, debt-to-income, loan-to-value)

2. Appraisals
3. Title report
4. Insurance: hazard, flood, and mortgage

C. Specific program guidelines

2. Fannie Mae, Freddie Mac
3. Other (e.g., Mortgage insurance, HUD)

D. Closing

1. Title and title insurance
2. Closing agent
3. Explanation of Fees
4. Explanation of Documents
5. Funding

E. Financial calculations used in mortgage lending

1. Interest per diem
2. Payments (principal, interest, taxes, and insurance; mortgage insurance, if applicable)
3. Down payment
4. Loan-to-value (loan-to-value, combined loan-to-value, total loan-to-value)
5. Debt-to-income Ratios
6. Temporary and Fixed interest rate buy-down (discount points)
7. Closing costs and prepaid items
8. ARMs (eg., fully indexed rate)

IV. Ethics (15%)

B. Gramm-Leach-Bliley Act
C. Truth-in-Lending Act
D. Equal Credit Opportunity Act
E. Appraisal
F. Fraud detection, reporting, and prevention
G. Ethical behavior

1. Consumers
2. Appraisers
3. Underwriters
4. Investors
5. Warehouse lenders
6. Real estate licensees
7. Closing agents
8. Employers


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