AR MLO study plan

AR MLO · Give each week a clear focus.

8 weeks · About 6 hours per week

Week 1

Federal Mortgage Laws and Regulations

Map the federal disclosure timeline (application through closing) and label each required disclosure on a one-page calendar
Explain RESPA Section 8 prohibitions and identify three fact patterns that would violate them
Distinguish TILA/TRID tolerances (zero, 10%, unlimited) and match each changed-circumstance scenario to its tolerance category
Recite ECOA/Reg B notice requirements and prohibited basis categories from memory

A completed federal disclosure timeline with all required disclosures dated, plus a 15-question self-quiz scored at 80% or better

Week 2

Apply ability-to-repay and qualified mortgage standards to three borrower scenarios and justify each classification
Trace HMDA reportable data fields and decide reportability for four edge-case applications
Summarize SAFE Act federal minimum standards and how they flow into state licensing
Compare flood insurance, appraisal independence, and high-cost mortgage triggers in a comparison table

A written case analysis of three loan scenarios (ATR/QM classification, HMDA reportability, high-cost status) with cited rule sections

Week 3

Outline the Arkansas mortgage licensing structure and identify which activities require a license versus an exemption
List Arkansas-specific disclosure, fee, and advertising requirements and differentiate them from federal counterparts
Describe Arkansas examination, reporting, and enforcement processes and the consequences of violations
Identify Arkansas escrow, servicing, and consumer complaint handling expectations

An Arkansas-versus-federal requirements comparison chart covering at least 10 distinct obligations

Week 4

Reconstruct the NMLS license lifecycle steps from application through renewal and surrender
Define recordkeeping retention periods and the documents a licensee must maintain, citing the governing requirement
Build a compliance calendar covering renewal windows, continuing education deadlines, and reporting obligations
Connect Arkansas enforcement triggers to NMLS record and disclosure duties

A 12-month compliance calendar plus a recordkeeping checklist scored against a self-written answer key

Week 5

Compute qualifying income, DTI, and LTV for four borrower profiles and flag the binding constraint in each
Match loan products (conventional, FHA, VA, USDA, jumbo, ARM) to borrower scenarios and justify the fit
Explain the appraisal, title, and underwriting conditions that most often delay closing
Draft a complete loan estimate walkthrough a borrower could understand

Four solved underwriting scenarios with calculations shown and a one-page product-selection decision guide

Week 6

Identify red flags of income, asset, and occupancy fraud across five case vignettes
Apply fair lending and steering prohibitions to three origination decision points
Explain the licensee's duties around borrower privacy, data security, and third-party information sharing
Describe complaint escalation and remediation steps after a suspected violation

A fraud red-flag reference sheet plus written responses to five vignettes identifying the issue and required action

Week 7

Assemble an ethics quick-reference covering conflicts of interest, compensation rules, and advertising accuracy
Audit a sample loan file against recordkeeping and disclosure checklists and document every gap
Practice explaining a compliance failure to a borrower and to a regulator in two different tones
Re-test the weakest 20 items from weeks 1-6 and correct each missed concept in writing

A completed mock file audit with a findings memo listing gaps, root causes, and corrective actions

Week 8

Complete two full-length timed practice exams and record scores by domain
Re-drill every domain scoring below 75% until each reaches at least 80%
Memorize the highest-yield numbers, deadlines, and thresholds across all five domains
Simulate exam-day pacing and confirm logistics for the live test

Two completed practice exams with a domain score tracker and a final one-page high-yield fact sheet

Week 2: Score 80% or higher on a self-written 20-question federal law quiz and correctly classify all three ATR/QM scenarios

Week 4: Explain Arkansas licensing and NMLS renewal requirements aloud in under five minutes without notes

Week 6: Identify the primary issue in at least four of five fraud vignettes and cite the relevant rule for each

Week 8: Achieve 80% or higher overall on both timed practice exams with no domain below 75%