PA MLO study plan

Build a one-page disclosure-timing chart that maps when the Loan Estimate, the revised Loan Estimate, the Closing Disclosure, and the servicing transfer notice must be delivered under TILA/Reg Z and RESPA/Reg X.

Differentiate the zero-tolerance, 10-percent-tolerance, and unlimited-tolerance fee categories, and list at least six specific fees in each bucket from memory.

Recite the six pieces of information that constitute a complete loan application and explain when the three-business-day disclosure clock starts and how it resets.

Solve ten APR and finance-charge disclosure scenarios using the official tolerance rules, showing your work for each.

Map the ECOA/Reg B adverse-action timeline and notice content requirements, and state the 30-day notification rule without notes.

Compare HMDA/Reg C reportable data fields against non-reportable fields, and identify which loan-purpose and loan-type combinations trigger reporting.

Distinguish the federally protected classes from the additional protected classes under the Pennsylvania Human Relations Act, and list at least three practices that create fair-lending exposure.

Summarize the SAFE Act licensing obligations, GLBA privacy notice requirements, flood insurance rules, and OFAC screening duties in three sentences each.

Identify the parties and documents involved in a typical single-close vs. double-close transaction and flag the RESPA Section 8 risks in each.

Sequence the origination workflow from initial inquiry through funding, naming the required disclosure or document produced at each stage.

Calculate LTV, CLTV, DTI, and total interest percentage by hand for five loan scenarios, including one with subordinate financing.

Assemble a compliant initial disclosure package checklist, noting which items are borrower-specific and which are generic.

Explain the circumstances that permit a revised Loan Estimate and the circumstances that restart the three-business-day Closing Disclosure waiting period.

Describe the processing and underwriting handoff, listing the verification documents an underwriter typically requires for income, assets, and credit.

Outline MLO licensing, sponsorship, branch registration, and renewal requirements, confirming each figure against the current NMLS state licensing checklist rather than from memory.

List the annual continuing-education hour categories and total, and note which categories carry a fixed minimum.

Describe the state supervisory and disciplinary process, from examination through notice, hearing, and appeal, and identify the violations most frequently cited against MLOs.

Explain advertising and solicitation restrictions, including required license-number display and prohibitions on deceptive claims.

State the record-retention and examination-cooperation obligations that apply to a licensed MLO and to the sponsoring entity.

Classify twelve loan products, including conventional, FHA, VA, USDA, jumbo, ARM, and HELOC, by eligibility, insurance requirement, and typical down payment.

Explain ARM mechanics fully: initial fixed period, index, margin, adjustment caps, lifetime cap, and payment shock after the first adjustment.

Compute monthly principal and interest, plus escrow estimates, for three fixed-rate and two ARM scenarios using an amortization formula.

Define forty core industry terms from memory and self-quiz until you reach 90 percent accuracy.

Compare conforming loan limits, high-balance treatment, and the consequences of exceeding them.

Detect fraud red flags, including altered documents, straw borrowers, undisclosed debt, and inflated appraisals, across ten written scenarios.

Distinguish UDAAP violations, predatory-lending indicators, steering, and high-cost mortgage triggers, and cite the rule that governs each.

Apply a four-step decision framework to eight ethical dilemma scenarios typical of origination practice, and justify the compliant action.

Identify fair-lending and marketing risks, including redlining, discouragement, and disparate-impact exposure in advertising and pricing.

Complete two full-length 100-question practice exams under strict timed conditions to build pacing stamina.

Categorize every missed question by domain and subtopic, then re-study the three weakest subtopics until you can restate the rules unaided.

Recite the disclosure-timing chart and tolerance table from memory with zero reference material.

Re-work ten previously missed origination-activity questions and explain aloud why each distractor is wrong.

Recite the ten highest-yield numbers from memory: the three-day, seven-day, 30-day, and 45-day deadlines, CE hour totals, and the reportable-loan thresholds.

Review the state-specific licensing, advertising, and disciplinary points that appear on the Uniform State Content section.

Re-take the two weakest practice questions sets and confirm each is now answered correctly with a stated reason.

Prepare exam-day logistics: identification, testing-center rules, timing strategy, and a plan for flagging and returning to uncertain items.