This document summarizes an instructor-led training on preparing for the stand-alone Uniform State Test (UST) required for loan originator licensing. It outlines the agenda which includes introductions, boundaries, objectives, an overview of the UST and SAFE Act, quizzes on relevant sections, definitions, prohibited conduct, and a final practice quiz. Key points covered are that passing the UST allows originators to apply for licensing in participating states, the test contains 25 multiple-choice questions to be completed in 45 minutes, and state requirements may include additional education.

1. +
Stand-Alone Uniform State Test
Exam Prep
CE Forward, Inc. DBA
Nat’l Assoc of Mortgage Fiduciaries
Jillayne Schlicke

2. +
CE Forward, DBA NAMF
NMLS Approved Course Provider
C-1400068
Instructor:
Jillayne Schlicke

3. +
If you still need to pay…

Cash only at the door
Please complete the sign-in sheet.

If you paid online I have already noted
this.
$59

Payment

If you still need to pay I will come
around and collect payment later. For
now, just complete the sign in sheet.

4. +
Welcome!
 Cell
phones and laptops off while class is in
session.
 I-pads
okay
 Breaks
 Bathrooms
 Coffee
 Side
conversations

5. +
Agenda
We will cover this in mostly a linear
way but we may decide to jump
around.
Introductions
Boundaries
Objective
Stand-Alone UST
SAFE Act
Quiz
State Auth to License
Quiz
Definitions
Quiz
Prohibited Conduct
Quiz
Final Practice Quiz
Close

6. +
Objectives
Learn
about the
National Uniform State
Test
Prepare
to pass the
stand-alone UST

7. +
Boundaries
Politics
Policy
UST
Time
Law

8. +
Section 1
Uniform State Test
 Uniform
State Test Background
 Adoption
Table

9. +
Section 1 UST
 NOTE:
Passing the new Uniform State Test (UST)
will allow loan originators to apply to originate in
those states that honor the UST.
 States
may have additional pre-licensing
requirements that LOs must complete such as
additional required pre-licensing education on
their state laws and rules.

10. +
UST
 25
Questions, all are scored
 45
minutes (appointment time is 75 minutes)
 $33
http://www.dfi.wa.gov/CS%20Orders/C-09495-11-CO01.pdf

11. +
Section 1 UST Test Content Outline
 DFI
Authority
 Responsibilities

 State
Law, Definitions
 SAFE Act
 State

Model Law
Compliance
 Prohibited Practices
 Required Conduct
 Advertising

12. +
SAFE Act Quiz

13. +
Education
Continuing Ed: 8
Pre-Licensing: 20

3 hours fed law

3 hours fed law

3 hours ethics
 Fraud, consumer
protection, fair housing

2 hours ethics

2 hours non-trad

1 hour undefined

2 hours non-traditional
lending

12 hours

14. +
Unearned fee…
 A fee
for which no work has been performed
 Junk fee
 e.g., charging a processing fee when we do not
employ a processor.
 Padding
fees
 e.g., fee is $100. We charge customer $150 and
keep the extra $50 for ourselves
 Kickbacks
a
violation of Section 8/RESPA

15. +
TILA/RESPA Definition of
“an Application”
Financial Data
Borrower’s Name
Soc
Income
Estimated value
Loan Amount
…..
Prop address (will have this if refi, might
not have this right away if borrower is still
house-shopping.)
……
Any other info deemed necessary by the LO
Real Estate Settlement and Procedures Act
15
http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm

16. +
Example Question:
Q: If a state decides not to implement loan originator
licensing, what federal regulator would oversee loan
originator licensing?

17. +
Example Question:
Q: If a state decides not to implement loan originator
licensing, what federal regulator would oversee loan
originator licensing?
a.
HUD
b.
The SAFE Act
c.
The Director of the Bureau of Consumer Financial
Protection
d.
The FTC

18. +
Section 3 Definitions

p

19. +
Section 4
Licensing Law
p

20. +
Section 5
Compliance
 Prohibited
Practices
 Disclosure
Requirements
 Advertising

21. +
THANK YOU!!
Jillayne Schlicke
206-931-2241
Jillayne@gmail.com
ceforward.com
mortgagefiduciaries.com