NMLS study plan

Map the federal law landscape by listing every statute and regulation in Domain 1 (RESPA/Regulation X, TILA/Regulation Z, ECOA/Regulation B, HMDA/Regulation C, SAFE Act, Fair Housing Act, GLBA, and the CFPB's TRID rules) and writing a one-line purpose for each from memory before checking notes

Build a threshold cheat sheet for Regulation Z by recording the numeric triggers for high-cost mortgage, higher-priced mortgage loan, HOEPA points-and-fees, and the ability-to-repay/qualified mortgage definitions

Explain in writing how TRID integrates the Loan Estimate and Closing Disclosure timing rules, including the three-business-day delivery requirement and valid changed-circumstance reasons

Distinguish ECOA/Regulation B adverse action notice deadlines and content from Fair Housing Act prohibited-basis rules by writing a side-by-side comparison of at least six points of difference

Drill the disclosure-timing rules for RESPA/Regulation X (initial servicing disclosure, escrow account statements, and the 45-day escrow surplus refund) until you can state each deadline without notes

Compare federal requirements with the uniform state content areas (licensing, examination, and enforcement authority under the SAFE Act and CSBS/AARMR model provisions) and note where state rules add obligations beyond federal law

Trace a single sample loan file end to end and annotate every federal disclosure that must be issued, with its deadline and delivery method

Write out the penalties and enforcement mechanisms for at least five Domain 1 laws, identifying which agency enforces each

Sequence the origination workflow from initial inquiry through funding, naming the required action and documentation at each stage

Calculate borrower affordability metrics - housing expense ratio, total debt-to-income, and maximum qualifying payment - on at least 10 practice scenarios without a calculator shortcut sheet

Differentiate loan origination compensation rules under Regulation Z (borrower-paid vs. lender-paid, dual compensation prohibition, and the ban on basing compensation on terms) by writing worked examples

Practice reading a mock credit report and identify items that require a rescore, a letter of explanation, or a disputed-account investigation

Compare conventional, FHA, VA, and USDA loan programs across down payment, mortgage insurance, eligibility, and property standards in a structured matrix

Explain the secondary market flow - how loans are sold to Fannie Mae, Freddie Mac, or Ginnie Mae - and connect it to underwriting guidelines and pricing

Define and correctly use at least 25 general mortgage terms (LTV, CLTV, PMI, PITI, escrow, amortization, ARM caps, note rate vs. APR) in your own words

Walk through an adjustable-rate mortgage scenario calculating the initial rate, adjustment caps, and fully indexed rate

Explain the components of a mortgage payment (principal, interest, taxes, insurance, and escrow) and how amortization changes the split over the life of a loan

Describe appraisal and title processes, including what triggers a new appraisal and how title insurance protects lender vs. borrower

Identify the ethical duties owed to borrowers, including the prohibition on steering, the duty to disclose compensation, and the handling of borrower funds

Analyze at least three realistic ethical dilemma scenarios and write the correct course of action with the rule that supports it

Summarize the SAFE Act's minimum standards - character and fitness, pre-licensure education, testing, and continuing education - and the grounds for license denial or revocation

Distinguish fraud from negligent misrepresentation using concrete origination examples, and list the red flags of each

Explain the required handling of personally identifiable information and nonpublic personal information under GLBA and describe a compliant information-security practice

Identify prohibited practices in advertising and marketing, including trigger terms that require additional disclosures

Revisit the Domain 1 topics you scored weakest on and rewrite your summary sheet to correct each error

Complete a timed mixed set of at least 50 practice questions weighted to Domains 1 and 3, and log every missed question with the underlying rule

Rehearse the loan-estimate-to-closing-disclosure comparison process and identify the tolerance categories (zero, 10 percent, and unlimited) with examples

Verify you can state the timing and content requirements for adverse action, servicing transfer, and escrow closing notices without notes

Take two full-length timed practice exams under test conditions and record the score by domain for each attempt

Target your three lowest-scoring subareas with focused review and rewrite the relevant cheat-sheet sections

Recite from memory the key numeric thresholds across all domains (disclosure deadlines, DTI limits, tolerance percentages, education hours) in a single review pass

Confirm test-day logistics and build a final one-page master sheet limited to facts you have repeatedly missed