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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.
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.
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.
HOW TO GET BONDED
1. Apply OnlineUsing our Free & Secure Application2. Get Your Free QuoteApplications are No-Obligation3. Get Your BondMost Bonds are Approved in 1-2 Business Days