TX MLO case studies
TX MLO · Put your knowledge to work in context.
The Texas Mortgage Loan Originator (MLO) license is the state credential a person needs to originate residential mortgage loans in Texas, and it is issued by the Texas Department of Savings and Mortgage Lending. To earn it, a candidate must satisfy the SAFE Act requirements - pre-licensure education, background and credit checks, and testing - and then pass the NMLS-administered MLO test. The TX MLO case studies are 5 cases and about 3,654 words.
1The Declining K-1: Building Income You Can Defend
Priya owns 100% of a consulting S-corp. Her 2024 K-1 shows 62,000 of ordinary business income, down from 85,000 in 2023, and the business return shows gross receipts down 18%.
694 words, about 3 min2Fixed, ARM, or Buy the Rate Down
Marcus is buying a 500,000 home with 20% down, a 400,000 first mortgage, 740 FICO. Option A is a 30-year fixed at 6.875%; 1 discount point ( 4,000) buys the rate down to 6.50%.
712 words, about 4 min3Sunday Night Phone Call: Application, Disclosures, and Fees
on Sunday, March 9, a borrower calls Dana and gives her: full name, Social Security number, monthly income of 6,400, the address of a condo she wants to buy for 295,000, an estimated value of 295,000, and a requested loan amount of 265,500. Dana's office is closed Sunday and Monday, March 10, for a company holiday, and reopens Tuesday, March 11.
723 words, about 4 min4Spiffs, Cousins, and the Affiliated Title Company
Ray is a licensed Texas MLO paid 100 basis points per funded loan. Three arrangements have landed on his desk this week.
778 words, about 4 min5Texas Home Equity: 80%, 3%, and 12 Days
The Cortez family bought their Austin home 14 months ago for 310,000 with a 248,000 FHA loan. A new appraisal comes in at 340,000.
747 words, about 4 min