Uniform State Test (UST) · 11% of the SAFE exammedium
Correct answer: Alabama Mortgage Brokers Licensing Act (Title 5, Ch. 25) and Alabama SAFE Act (Title 5, Ch. 26)
Alabama mortgage licensing falls under two statutes: (1) the Alabama Mortgage Brokers Licensing Act (Alabama Code Title 5, Chapter 25) — governs mortgage broker licensing, bonding, prohibited practices; and (2) the Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009 (Title 5, Chapter 26) — implements the federal SAFE Act at the state level, governs individual MLO licensing, testing, education, and NMLS registration. Both are administered by the Alabama State Banking Department.
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free