Free MLO Exam Braindumps
Mortgage Loan Origination Questions 31–35 (page: 8)

Updated On: 10-Feb-2026

Consumer complaints and the analysis of complaints play a vital role in identifying weaknesses in elements of a company's:

  1. hiring procedures and training.
  2. compliance management, training and internal controls.
  3. secondary marketing practices of selling loans to investors.
  4. compliance management, senior management and branch locations.

Answer(s): B


Reference:

https://www.movingforwardsmallbusiness.com/swot-weakness-examples-business-case-studies/



A mortgage loan in which a large portion of the borrowed principal is repaid at the end of the loan period is known as a:

  1. FHA mortgage.
  2. balloon mortgage.
  3. qualified mortgage.
  4. deferred-payment mortgage.

Answer(s): B


Reference:

https://www.zillow.com/learn/mortgage-principal/



How many days must a borrower's mortgage loan be delinquent before the mortgage company is permitted to submit the first notice filing in the foreclosure process?

  1. 30 days
  2. 60 days
  3. 90 days
  4. 120 days

Answer(s): D


Reference:

https://upsolve.org/learn/mortgage-companies-120-day-rule/



Under the TILA-RESPA Integrated Disclosure rule (TRID), what is the minimum time period that must pass between a borrower's receipt of a Loan Estimate and the closing of a mortgage loan?

  1. 7 business days
  2. 15 business days
  3. 30 business days
  4. 45 calendar days

Answer(s): A


Reference:

https://www.bankersonline.com/tools/148863



Which of the following loan types is regulated by the Home Ownership and Equity Protection Act (HOEPA)?

  1. Refinance
  2. Construction
  3. Reverse mortgage
  4. USDA Rural Development

Answer(s): A


Reference:

https://www.askmoney.com/loans-mortgages/what-are-hoepa-loans



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