NAMP CMLP study plan

Map the TRID disclosure timeline from memory: write out each triggered event (application received, Loan Estimate delivery, intent-to-proceed, revised LE, Closing Disclosure delivery, consummation) with its exact business-day rule and the consequence of missing it.

Sort ten fee scenarios into the zero-tolerance, 10%-cumulative, and no-tolerance categories of the LE/CD tolerance rules, and state the cure obligation for each.

Build a comparison grid of RESPA Section 8, Section 9, and Section 10 prohibitions versus Section 6 servicing transfer notice duties, listing who must be notified and when.

Explain in your own words how Regulation Z defines 'application,' 'business day' (general vs. specific), and 'consummated' and why each definition changes a disclosure deadline.

Write the complete adverse action notice checklist under ECOA/Regulation B: 30-day decision rule, permissible reasons, notification content, and retention period, and apply it to three denial scenarios.

Differentiate HMDA reportable data points and the covered-loan tests (closed-end, open-end, purpose, occupancy) by classifying 12 sample loan files as reportable or not.

Contrast fair lending risk areas (disparate treatment, disparate impact, redlining, steering) with three concrete origination practices that would create each risk.

Outline the three-day right of rescission: which loans qualify, when the clock starts, what the consumer receives, and how a valid waiver works.

Identify ethical red flags in origination - appraisal pressure, occupancy misrepresentation, income inflation, undisclosed compensation - and state the reporting or refusal obligation for each.

Compute qualifying income for self-employed borrowers from three scenarios: a two-year Schedule C filer, an S-corporation owner with K-1 distributions, and a partnership K-1 recipient with ordinary business income.

Calculate stable monthly income for variable, bonus, commission, and overtime earnings using the averaging and trend rules, and justify excluding a declining source.

Derive qualifying rental income from a Schedule E for a subject property and a new purchase using the applicable vacancy factor and full PITI offset.

Apply the ability-to-repay general standard and the price-based General QM threshold by testing five loan scenarios on points-and-fees, APR spread over APOR, and documented debt-to-income.

Read a tri-merge credit report structure and list the action required for each of these conditions: authorized-user tradeline, disputed account, medical collection, and a recent late payment with a satisfactory explanation.

Calculate LTV, CLTV, HCLTV, and available equity for six scenarios involving a first lien, a simultaneous second, and a HELOC, and identify which ratio each program limits.

Reconcile an automated underwriting recommendation against manual requirements by identifying the three data points most likely to produce an inaccurate approval and how to verify each.

Determine reserve requirements and eligible reserve sources for primary, second-home, and investment transactions.

Sequence the settlement workflow from clear-to-close through disbursement and recording, naming the responsible party and the document produced at each of at least eight steps.

Explain the tolerances and re-disclosure triggers that apply when a Closing Disclosure changes after initial delivery, including the three-business-day waiting period reset.

List the purpose and key content of the note, security instrument, closing disclosure, settlement statement, title commitment, and hazard insurance evidence, and match each to the party who signs or issues it.

Distinguish how seller credits, real estate commission credits, escrow holdbacks, and per-diem interest are disclosed and how each affects the cash to close.

Describe how closing instructions, wiring fraud prevention, and disbursement authorization protect the transaction, and identify the control that fails in a given fact pattern.

Compare Conventional, FHA, VA, and USDA loans on down payment, mortgage insurance or guarantee fee structure, eligible property types, occupancy, and credit floor.

Compute FHA upfront and annual mortgage insurance premiums and VA funding fees for four scenarios, including a subsequent VA use with less than 10% down.

Read a rate sheet and identify how base rate, discount points, lender credits, and loan-level price adjustments combine to produce the borrower's final rate and price.

Explain ARM structure: initial fixed period, adjustment caps, margin, index, and payment shock risk, and apply it to three borrower profiles to recommend fixed versus ARM.

Reconstruct the licensing and conduct framework of mortgage loan originator practice, including SAFE Act registration, NMLS record maintenance, and prohibited acts.

Integrate compliance knowledge by reviewing six fact patterns that each combine a disclosure rule, a settlement rule, and an ethical judgment, and identify every violation present.

Audit your own weak areas by scoring your self-written question bank and listing the five highest-error topics with the reason each error occurred.

Write the top ten exam traps you have personally fallen into, each with the correct rule and a memory hook.

Complete two timed full-length practice exams under exam conditions and score above 80% on each attempt.

Convert each missed question into a flashcard stating the rule, the distractor logic, and the source regulation or guideline section.

Rehearse the calculation set you are most likely to see - income averaging, DTI, LTV/CLTV, points and fees, MIP and funding fees - until each can be done without notes.

Build a final-week one-page recall sheet covering disclosure deadlines, tolerance categories, ATR/QM thresholds, and program limits.