ND MLO case studies
ND MLO · Put your knowledge to work in context.
The North Dakota Mortgage Loan Originator License Exam, often searched as the ND MLO state-specific test, is the state component of the NMLS testing sequence for individuals who want to originate mortgage loans in North Dakota. It is aimed at new originators seeking an initial license and at licensed originators who need to add North Dakota through the NMLS. The ND MLO case studies are 5 cases and about 3,278 words.
1The Sponsorship Gap: Originating Between a Lapsed Broker License and a Pending Transfer
Dana is a mortgage loan originator licensed in North Dakota and sponsored by Cedar Ridge Mortgage, Inc., a mortgage broker licensed by the North Dakota Department of Financial Institutions (NDFI). Cedar Ridge's owner assumed NDFI gave companies a 30-day grace period after the December 31 renewal deadline and never completed the renewal, so the company's license lapsed.
696 words, about 3 min2The Unlicensed Assistant, the Unregistered Fargo Office, and the Guaranteed-Rate Ad
Marcus is a loan originator at Lakeshore Mortgage Group, an NDFI-licensed mortgage broker with its main office in Bismarck. Forty-five days ago Lakeshore opened a Fargo office; it is staffed by Marcus and two assistants but has not been added to the company's license.
639 words, about 3 min3Fees Taken on a Personal Payment App and the Title Affiliate Payment
Yvonne is a licensed originator at Redstone Mortgage, an NDFI-licensed broker. On March 3 a borrower, Angela, calls about a refinance and Yvonne tells her she must pay a 450 application and processing fee to hold the rate.
696 words, about 3 min4The Borrower Who Was Told to Stop Paying and the Deed-in-Lieu Deadline
A past client, Roger, calls his originator, Lena, at a Bismarck brokerage. Roger is five months behind on his North Dakota home and the servicer has sent a loss mitigation packet.
635 words, about 3 min5The Expired License, the Missing CE Hours, and the Unreported Consent Order
Tomas holds a North Dakota MLO license. During the November 1 to December 31 renewal window he had completed six of the eight continuing education hours he needed and let the renewal lapse rather than ask about options.
612 words, about 3 min