[Dec 24, 2025] Fully Updated MLO Dumps – 100% Same Q&A In Your Real Exam [Q35-Q49]

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[Dec 24, 2025] Fully Updated MLO Dumps – 100% Same Q&A In Your Real Exam

Latest MLO Exam Dumps – Valid and Updated Dumps

QUESTION 35
Which of the following is an example of a non-fluctuating income source?

Salaried W-2 position

Self-employed income

Commission-based W-2 income

Part-time work with irregular hours

QUESTION 36
A borrower has been approved for a new home loan and has completed all necessary paperwork. When should the borrower receive the Closing Disclosure?

4 business days prior lo consummation

3 business days prior to consummation

1 business day prior to consummation

On the day of consummation

QUESTION 37
According to the Equal Credit Opportunity Act (ECOA), which of the following terms is defined as a refusal to grant credit based on the requested loan terms, an unfavorable change in loan terms, or a termination of an account/application?

Adverse action

Account closure

Credit closure

Denial of credit

QUESTION 38
An advertisement only reads: “Looking for low rates on a new mortgage loan? I can get you a $1,100 monthly payment on a $200,000 loan.” This statement is a violation of which of the following rules?

Truth in Lending Act (TILA)

Equal Credit Opportunity Act (ECOA)

Real Estate Settlement Procedures Act (RESPA)

Unfair Deceptive or Abusive Acts or Practices

QUESTION 39
Which of the following factors does not affect the funding fee on a VA purchase?

Service-connected disability

First-time user

Marital status

Loan-to-value ratio

QUESTION 40
According to the Truth in Lending Act (TILA), which of the following advertising statements does not require additional disclosures to supplement the advertisement?

“Payments as low as $600 for a $100,000 mortgage”

“Only 1 point up front to get you in a home”

“15-year and 30-year mortgages available”

“Come in today for your free consultation”

QUESTION 41
A mortgage loan originator (MLO) submits a refinance application for a primary residence. However, if the MLO later discovers that the property is no longer occupied by the borrower, which of the following actions, if any, should the MLO take?

Allow the application to be underwritten before raising any concerns

Take no action as the property was occupied at the time of application

Notify the MLO’s employer and/or the mortgage lender of the discovery

Allow the mortgage loan processor and/or underwriter to discover this through their due diligence processes

QUESTION 42
Which of the following acts or practices violates appraisal independence?

The mortgage loan originator (MLO) asks the appraiser to correct errors on the appraisal.

The MLO asks the appraiser for a minimum valuation of the property so that the loan-to-value meets lending requirements.

The MLO asks the appraiser to consider additional comparable properties to make or support an appraisal.

The MLO asks the appraiser to provide further detail or explanation for the appraiser’s value conclusion.

QUESTION 43
A consumer with HIV/AIDS is protected from lending discrimination by the:

Dodd-Frank

Equality Act

Fair Housing Act

Employment Non-Discrimination Act

QUESTION 44
Which of the following scenarios is permissible according to the SAFE Act?

An unlicensed assistant to a mortgage loan originator (MLO) conducts MLO activities under the authority of the MLO’s unique identifier and licenses.

An MLO who is not licensed in a subject property’s state still originates the loan under the authority of the company’s license in that particular state.

A third-party underwriter conducts administrative and clerical duties while working under the supervision of a licensed MLO with their organization.

An underwriter who is functioning as an independent contractor conducts administrative and clerical duties while working under the supervision of a licensed MLO.

QUESTION 45
Which of the following loans is subject to the Real Estate Settlement Procedures Act (RESPA)?

Federally related mortgage loan

Standard county related mortgage loan

State registration related mortgage loan

Unified commerce related mortgage loan

QUESTION 46
Which of the following activities is an example of redlining in mortgage lending?

Ensuring that all creditworthy borrowers are afforded equal treatment when applying for a mortgage loan

The mortgage loan originator convincing the underwriter to move their loan file to the front of the line or “redline” it

The act of the mortgage lender putting a “red line” under the borrower’s name in a file to indicate they are a substandard applicant

The systematic denial of various services to residents of specific, often racially associated, neighborhoods or communities, either explicitly or through the selective raising of prices

QUESTION 47
Which of the following scenarios describes a form of steering?

A loan officer presents a consumer a loan with the terms a consumer requested that has higher fees than a product the loan officer is able to offer.

A loan officer presents a consumer with a loan that has the lowest total amount of fees.

A loan officer presents a consumer loan options from a particular lender for a higher level of compensation.

A loan officer presents a consumer with loan options from multiple creditors with various fees.

QUESTION 48
Which of the following fees is a finance charge?

Appraisal fees

Title insurance

Discount points

Pest inspection fees

QUESTION 49
Which of the following lender payments is prohibited according to Real Estate Settlement Procedures Act (RESPA)?

A payment to an attorney for services actually rendered

A payment to a real estate agent for loan referral activities

A payment to its own employees for lender referral activities

A payment to the lender’s duly appointed agent or contractor for services actually performed in the origination, processing or funding of a loan

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[Dec 24, 2025] Fully Updated MLO Dumps – 100% Same Q&A In Your Real Exam [Q35-Q49]

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