AK MLO study guide
AK MLO · Work through your exam, one topic at a time.
The Alaska Mortgage Loan Originator (MLO) license is a state credential that allows an individual to originate residential mortgage loans on property in Alaska. It is issued through the Nationwide Multistate Licensing System (NMLS) and administered by the Alaska Division of Banking and Securities. Candidates typically need this license to take loan applications, negotiate terms, or offer residential mortgage products in the state, whether working for a bank, credit union, mortgage company, or as an independent originator. The exam tests the knowledge a licensed originator must have on day one: federal mortgage laws and regulations, general mortgage knowledge, origination activities, ethics, and Alaska-specific law. The AK MLO study guide has 5 sections and about 1,404 words.
01Federal Mortgage-Related Laws and Regulations
This domain tests the federal statutes and implementing regulations that govern origination. Know the RESPA/Regulation X disclosure timeline (Loan Estimate within three business days of application, revised LE rules, Closing Disclosure three business days before consummation, and the changed-circumstance tolerances: zero, 10%, and unlimited).
312 words, about 2 min02General Mortgage Knowledge
This domain covers mortgage products, terminology, and the mechanics of a loan file. You must understand loan types : conventional conforming (Fannie/Freddie), FHA, VA, USDA, jumbo, and portfolio.
272 words, about 1 min03Mortgage Loan Origination Activities
This domain tests the origination workflow from first contact to closing. Know the application process : taking a complete application (the six pieces of information under Reg B - name, income, SSN, property address, estimated value, loan amount), pulling credit, and issuing disclosures.
267 words, about 1 min04Ethics
Ethics questions test professional conduct, fair dealing, and integrity. Understand the core duties: honesty and transparency with borrowers, confidentiality of nonpublic personal information (GLBA/Reg P), fair lending under ECOA and the Fair Housing Act, and avoiding conflicts of interest .
264 words, about 1 min05Alaska-Specific State Law and Regulation
This domain tests Alaska mortgage licensing and consumer protection rules. Know the Alaska Division of Banking and Securities as the regulator and the Nationwide Multistate Licensing System (NMLS) for licensing.
289 words, about 1 min