MD MLO study plan

Map the federal mortgage-related law landscape by listing each major statute and regulation (TILA/Reg Z, RESPA/Reg X, ECOA/Reg B, HMDA/Reg C, FCRA, GLBA, SAFE Act, and the CFPB's loan originator rules) and writing a one-line purpose for each in your own words

Build a personal glossary of 30 federal-law terms (APR, finance charge, tolerance, closing disclosure, loan estimate, adverse action, NMLS, unique identifier) with your own definitions and one example each

Explain the Loan Estimate and Closing Disclosure timing and delivery rules aloud without notes, then correct any gaps you find

Create a one-page timeline of key disclosure deadlines measured from application, consummation, and closing

Compare Reg Z and Reg X disclosure triggers side by side and identify at least five situations where both apply

Work through ten hand-written tolerance and fee-cure scenarios, deciding for each whether a tolerance was violated and what remedy applies

Summarize ECOA/Reg B adverse-action requirements and HMDA/Reg C reporting triggers into a single reference sheet

Self-quiz on SAFE Act licensing, unique identifier display, and CFPB loan originator compensation prohibitions until you score at least 85 percent

Diagram the full mortgage origination lifecycle from lead to post-closing, labeling who does what at each stage

Define and distinguish at least 25 general mortgage terms (LTV, CLTV, DTI, ATR/QM, PMI, escrow, PITI, ARM, buydown, points) with a worked numeric example for each calculation term

Compute LTV, CLTV, DTI, and PITI by hand for five practice loan scenarios and check your arithmetic

Explain the difference between conventional, FHA, VA, and USDA loan programs in a two-page comparison table

Trace how a loan moves from application through processing, underwriting, and closing, and list the documents collected at each stage

Describe how credit reports, income documentation, and asset verification feed the AUS and underwriting decision

Practice explaining rate locks, lock extensions, and float-down options in plain language to a hypothetical borrower

Identify the origination activities that require a licensed MLO and those that do not

Complete a full practice loan application file, gathering and organizing a realistic document set (pay stubs, W-2s, bank statements, credit authorization)

Calculate qualifying income for three borrower types, including self-employed and commission income, and document your method

Draft a complete Loan Estimate and Closing Disclosure pairing for one scenario and reconcile the fees between them

Simulate a borrower discovery conversation, capturing needs, goals, and affordability without steering

Write out the core ethical duties (fiduciary-type care, honesty, fair dealing, confidentiality, anti-steering) and match each to a realistic origination scenario

Analyze ten ethical dilemma scenarios and decide the correct action, citing the duty or rule that drives your answer

Identify red flags for fraud (income falsification, straw buyers, appraisal pressure, occupancy misrepresentation) and the escalation steps for each

Review advertising and social media rules for MLOs, including required disclosures and prohibited claims

Re-test your weakest federal-law areas from week 2 and re-explain every missed concept until you can teach it

Integrate ethics and compliance by reviewing how fair lending, UDAAP, and compensation rules intersect in daily origination work

Take a timed 60-question mixed practice exam weighted 25/25/25/25 across domains and record your score by domain

Build a one-page personal error log of recurring mistakes and the correction for each

Run two full timed practice exams under test conditions and compare domain scores to week 7

Drill your three weakest sub-topics using active recall and spaced repetition until each reaches 90 percent accuracy

Rehearse the calculation set (LTV, DTI, PITI, income) and the disclosure-timing timeline from memory one final time

Finalize a test-day plan covering scheduling, identification, timing strategy, and a review checklist