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Publisher Description

This book is up to date with all the new Regs and changes as of September, 2018. 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.

GENRE
Reference
RELEASED
2018
August 30
LANGUAGE
EN
English
LENGTH
733
Pages
PUBLISHER
Sovereign GA LLC
SELLER
Sovereign of Georgia LLC
SIZE
88.9
MB

Customer Reviews

loan-guy ,

Pass the test

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.

auntiekda ,

Just ok

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.

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