Mortgage Loan Originator (MLO) Licensing Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Mortgage Loan Originator Licensing Test with engaging quizzes. Study with multiple-choice questions that include explanations and suggestions. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.


What is the role of an inspection concerning manufactured homes?

  1. To assess market value

  2. To check for safety and compliance issues

  3. To ensure proper financing terms

  4. To determine appraisal accuracy

The correct answer is: To check for safety and compliance issues

The role of an inspection concerning manufactured homes primarily focuses on checking for safety and compliance issues. This inspection process ensures that the home meets specific standards set by various regulatory bodies, including local building codes and the standards set forth by the U.S. Department of Housing and Urban Development (HUD). Inspectors will look for structural integrity, electrical safety, plumbing conditions, and any other factors that could affect the safety and livability of the manufactured home. Safety is paramount when it comes to residential properties, and manufactured homes can have unique considerations due to their construction methods and materials. Compliance with regulations helps protect both the homeowner and the public, ensuring that the home is safe for occupancy and that it adheres to legal standards. While assessing market value, ensuring proper financing terms, and determining appraisal accuracy are all important aspects of the mortgage process, these elements are typically the responsibility of appraisers or financial institutions rather than inspectors. Therefore, focusing on safety and compliance issues is the primary role of an inspection for manufactured homes.