Loan Officer Practice Exam 2025 – Comprehensive All-in-One Guide for Exam Success!

To take residential mortgage loan applications for a federally-chartered bank, Pamela must be a registered mortgage loan originator. This designation is specifically required under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), which mandates that individuals who engage in mortgage loan origination must either be state-licensed or federally registered when operating within a federally-chartered institution.

Being a registered mortgage loan originator entails that Pamela is not only compliant with federal regulations but also fulfills the necessary responsibilities associated with loan origination for banks that are chartered at the federal level. This includes working under the auspices of a federally-insured financial institution, which can have specific regulatory requirements.

The other options, while related to the mortgage industry, do not accurately fit the specific requirement for taking residential mortgage loan applications within a federally-chartered bank context. A licensed loan originator is typically required for state-regulated entities, and a licensed mortgage lender refers more to the institution itself rather than the individual originator's certification. A certified loan processor provides support in the processing of loans but does not engage directly in loan origination. Therefore, the title of registered mortgage loan originator is the correct choice for providing loan applications in this scenario.