Federal Mortgage Related Laws (24%)
- TRID: Loan Estimate within 3 business days; Closing Disclosure 3 business days before consummation
- ECOA: action notice within 30 days; protected bases include public assistance
- RESPA §8: no kickbacks; HPA: PMI automatically ends at 78% of original value
Uniform State Content (11%)
- SAFE Act: minimum licensing standards; NMLS unique identifier
- 20 hours pre-licensing education; 8 hours CE each year
- NMLS ID required in advertising
General Mortgage Knowledge (20%)
- Conforming vs jumbo; FHA, VA, USDA programs
- ARMs: index + margin; caps; 2-1 buydown
- Points, LTV, primary vs secondary market
Origination Activities and Ethics (27% + 18%)
- Tolerances: zero, 10% cumulative, unlimited
- LTV, DTI, monthly interest calculations; appraisal approaches
- No steering, redlining, appraiser pressure or occupancy fraud
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