Real Estate Study Aids




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Texas State Exam Info

Specific Texas MLO Exam Content: There is no such thing as a "standard" mortgage loan originator Exam. All states have varied content from each other. This is why we spend so much time preparing the individual content for the Texas MLO exam keeping up with the changes as they occur in Texas.

MLO Practice Exams are organized into categories: When studying for your Texas MLO exam it is important to know your areas of weakness. We have taken the time to divide up the content into categories such as Federal Law, Loan Origination, General Loan knowledge and ethics. Each Category is graded separately to make it easier to identify and focus on your areas of weakness. Also included are master MLO Exams which incorporate all of the different categories into one test to help prepare you for your Texas MLO Exam.

Texas MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Texas practice questions, including our national practice questions, our explanations and answers, and other content. These all unite to give you the most comprehensive and up to date information for your Texas MLO Exam.



SAFE Mortgage Loan Originator Test State Component TEXAS Content Outline (50 scored test questions; 10 unscored test questions)

I.    Texas Office of Consumer Credit Commissioner and the Texas Department of Savings and Mortgage Lending (5%)
A. Regulatory authority
B. Department/agency structure

C. Responsibilities and limitations

II.    Texas Law and Regulation Definitions (10%)

A. Texas SAFE Mortgage Licensing Act
B. Mortgage Broker Licensing Act
C. Mortgage Banker Registration Act
D. Other State Law and Regulation Definitions


III.    Texas License Law and Regulation (20%)

A. Persons required to be licensed
1. Activities requiring licensure
2. Exemptions

B. Licensee qualifications and application process
1. 2. 3. 4.
Financial responsibility (recovery fund) Background check and fingerprints (criminal check; credit report) Pre-licensing education and experience Testing and retesting
C. Grounds for denying a license
1. Criminal convictions
2. Previous revocation
3. Prohibition

D. License maintenance
1. Continuing education
2. Personal information updates and required notifications
3. Renewal
4. Record keeping and reporting
5. Suspension and reinstatement


IV.    Compliance (45%)

A. Prohibited conduct and practices
B. Required conduct
C. Fees and charges
D. Disclosures and agreements

E. Advertising

V.    Disciplinary Action (10%)

A. Notifications, hearings, and appeals Last Updated: 8/16//2010

VI.

B.    Suspension, revocation, and rescission of licenses C. Penalties/fines D. Civil and criminal liability Unique Texas Test Areas (10%)

A. Home Equity Lending (Texas Constitution, Article XVI, Section 50) B. Regulated Lending (Texas Finance Code, Chapter 342)