NY MLO study plan

Map the federal disclosure timeline (Loan Estimate delivery, revised LE triggers, Closing Disclosure timing) onto a one-page calendar you can redraw from memory

Distinguish RESPA Section 8 prohibited kickbacks from permissible affiliated business arrangements and marketing service agreements

Explain how TILA-RESPA Integrated Disclosure (TRID) tolerances (zero, 10 percent, unlimited) apply to specific fee categories

Identify which loans are exempt from TRID and which disclosure regime applies instead (HELOC, reverse mortgage, business-purpose)

Summarize ECOA/Regulation B adverse action notice requirements, including timing and permissible reasons for denial

Differentiate HMDA reportable data fields from non-reportable application characteristics

Outline Fair Housing Act protected classes and the disparate-impact theory of liability

Describe SAFE Act licensing obligations and the federal definition of loan originator activity

Trace the anti-money-laundering and OFAC screening steps a mortgage originator must complete before closing

Connect each federal law studied in Weeks 1-2 to the origination activity it governs (application intake, disclosure delivery, closing, servicing transfer)

Explain HOEPA high-cost mortgage triggers and the points-and-fees test

Distinguish ability-to-repay/qualified mortgage standards from investor overlays

Describe how the loan estimate and closing disclosure flow into the closing process and what the originator must verify

Sequence the origination workflow from pre-qualification through funding, naming the document produced at each stage

Compute debt-to-income ratio, loan-to-value, and combined LTV for three practice scenarios without a calculator error

Explain how credit report inquiries, tradelines, and derogatory events are evaluated in underwriting

Describe the appraisal process, appraisal independence rules, and what triggers a reconsideration of value

Compare conventional, FHA, VA, and USDA loan programs on down payment, mortgage insurance, and property standards

Explain how mortgage-backed securities and the secondary market affect pricing and rate locks

Describe rate lock mechanics, extension costs, and float-down options

Identify the components of a monthly payment including escrow for taxes and insurance

Define key mortgage terminology precisely enough to explain each term to a first-time borrower in plain language

Apply the ethical duties of loyalty, disclosure, and confidentiality to three conflict-of-interest scenarios

Distinguish permissible compensation from referral fees and steering under consumer protection rules

Explain fiduciary responsibilities when the originator also acts as a broker

Analyze advertising and marketing rules, including required disclosures and prohibitions on deceptive claims

Describe New York mortgage banker and mortgage broker licensing and conduct requirements under the state banking law framework

Explain New York-specific consumer protections that exceed federal baselines, including foreclosure and servicing rules

Apply fair lending and anti-discrimination principles to New York-specific complaint and examination scenarios

Re-drill missed items from Weeks 1-7 by domain, prioritizing the two domains with the lowest practice scores

Complete two timed full-length practice sets and log every error by root cause (knowledge gap, misread, calculation, regulation confusion)

Recite the federal disclosure timeline and New York-specific rules from memory without notes

Review exam-day logistics and confirm licensing application steps and required documentation