Free Mortgage/MLO Practice Questions
Free practice questions for the NMLS SAFE Mortgage Loan Originator exam. Updated for 2026 with AI-powered study assistance and detailed explanations.
The NMLS SAFE exam has only a 56-58% first-time pass rate, making thorough preparation essential. There are approximately 158,000 licensed MLOs in the US as of 2025, down 46% from the pandemic peak. The MBA forecasts $2.2 trillion in mortgage originations for 2026, an 8% increase from 2025.
Key Facts: Mortgage/MLO Exams
56-58%
First-Time Pass Rate
NMLS
75%
Passing Score Required
NMLS
$74,180
Median MLO Salary
BLS 2024
158,000
Licensed MLOs in US
NMLS 2025
$2.2T
2026 Originations
MBA forecast
20 hrs
Pre-License Education
SAFE Act
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NMLS SAFE
SAFE Mortgage Loan Originator Test
National exam required for mortgage loan originators
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Frequently Asked Questions
What is the NMLS exam pass rate?
The NMLS SAFE exam has a first-attempt pass rate of only 56-58% nationally - significantly lower than the 75% first-attempt pass rate for the Bar Exam. Subsequent attempt pass rate drops to 46.7%. This low pass rate makes thorough preparation with practice questions essential.
How many questions are on the NMLS exam?
The NMLS SAFE exam has 120 questions total: 115 scored questions and 5 unscored pretest questions. You have 190 minutes (about 3 hours 10 minutes) to complete the exam. You need to answer at least 75% (approximately 86 questions) correctly to pass.
What topics does the NMLS exam cover?
The exam covers five content areas: Federal Mortgage-Related Laws (24%) including RESPA, TILA, TRID, ECOA; Mortgage Loan Origination Activities (25%); General Mortgage Knowledge (19%); Ethics (17%); and Uniform State Content (15%).
How much do mortgage loan originators make?
According to the BLS (May 2024), the median annual wage for loan officers is $74,180. Entry-level starts around $33,650, while the top 10% earn over $133,850. MLO compensation typically includes base salary plus commission based on loan volume.
What are the NMLS licensing requirements?
You must complete 20 hours of NMLS-approved pre-licensing education (federal SAFE Act requirement), pass the SAFE MLO Test ($110 fee), undergo background and credit checks, and apply for state licensure. Annual CE requires 8 hours including 3 hours federal law, 2 hours ethics, and 2 hours non-traditional products.
What is the 2026 mortgage industry outlook?
The Mortgage Bankers Association projects $2.2 trillion in total mortgage originations for 2026, an 8% increase from 2025. Purchase originations are forecast to rise 7.7% to $1.46 trillion. Mortgage rates are expected to remain above 6% (6.2-6.3% projected). About 158,000 MLOs are currently licensed, down 46% from the pandemic peak.
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