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Tennessee Mortgage License Surety Bond

Bond Requirements and Online Application

The Tennessee Mortgage License Surety Bond is required by the Department of Financial Institutions.

The Tennessee Mortgage License Surety Bond bond ensures that the bond holder and associated employees will comply with the Tennessee Residential Lending, Brokerage and Servicing Act of 1988. Surety1 offers an easy to use, online application, is rated A+ by by the BBB, and represents over a dozen surety bond companies. Low rates, fast service, bond professionals.

Tennessee Mortgage License Surety Bond

The bond amount depends on the type of license application:

  • If the License applicant is a Broker, the required bond amount is $90,000. 
  • If the License applicant is a Lender or Servicer, the required bond amount is $200,000.
  • License applicants who choose to broker and lend and/or service loans are required to file a bond in the sum of $200,000.

The price for the bond, also known as the bond premium, is only a small fraction of the bond amount. The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.

Valid: 1 year – Renewable

If the license is revoked, expired, suspended, or surrendered, the principle must maintain the bond for the following 2 years.

Licensing Fees and Requirements:

  • Surety bond
  • Application through NMLS
  • Net worth of $25,000
  • Criminal background check and fingerprinting
  • At least 1 year experience in mortgage industry
  • $700 licensing fee

All licensing fees are required by the obligee, not the surety company.

CLICK HERE for additional licensing information from the Tennessee Department of Financial Institutions. 

APPLY for this bond and get a free quote here

How to Get Your Tennessee Mortgage License Surety Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Tennessee Mortgage License Surety Bond!   If you have any questions, please call us at 877-654-2327.
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days