Tennessee Mortgage Licensing
Tennessee offers just one license for Brokering, Lending and Servicing activities. Reverse mortgage activities is however a separate authorization within TN. While there is no requirement for a brick and mortar location within the state, there is a requirement that you provide a Compiled financial statement reflecting at minimum tangible net worth of $25K for your most recent fiscal year end (FYE) . Tennessee requires a bond in the amount of $90K for Brokers and $200K for Lenders/Servicers. A named QI with 3 out of the last 5 years experience is necessary, although the QI does not have to hold the TN MLO license. An Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) Policy and the most recent Independent Review is also required to be uploaded into the NMLS.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| Tennessee | Mortgage License | $1,000 | $675 - $1,500 | $600 | Call for More Information | $2,275 - $3,100 |
License: Mortgage License
- Operating Status: Broker/Lender/Servicer
- Bond Amount: $90,000 - $200,000
- Net Worth: $25,000
- Brick & Mortar: No
- Financial Type: Compiled
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**Fees & terms are subject to change without notice.**