SAFE MLO Loan Inquiry & Application question: MLO collects a borrower's name

SAFE MLOLoan Inquiry & Application

An MLO collects a borrower's name, income, Social Security number, desired loan amount and an estimate of value, but the borrower has not chosen a house yet. Has an application been received under TRID?

A Yes, because the loan amount is known
B No, the property address is still missing
C No, because no credit report has been ordered yet
D Yes, because five of the six items are enough

Show the answer and explanation

Answer: B. No, the property address is still missing

All six pieces of information are needed, including the property address (12 CFR 1026.2(a)(3)(ii)). Without an address there is no TRID application yet, though the creditor may still issue a pre-approval and may choose to provide a Loan Estimate. Ordering credit is not one of the six items. Source: 12 CFR 1026.2(a)(3)(ii) and comment 2(a)(3)-1 (as at 11 Oct 2026).

Common mistake

Treating a 'to be determined' property as satisfying the address item.

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Original study material mapped to the public NMLS Content Outline; not a real test question.Not affiliated with or endorsed by NMLS, CSBS or SRR. Verify figures and rules against current guidance before relying on them.