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Tennessee mortgage and industrial loan surety bonds
Tennessee Mortgage License Bonds
Tennessee mortgage lenders, mortgage loan brokers, mortgage loan servicers, mortgage loan originators, combination mortgage companies, industrial loan and thrift companies, and related lending businesses may need surety bond coverage for licensing or registration with the Tennessee Department of Financial Institutions. Jet Insurance Company helps Tennessee mortgage and lending professionals quote, purchase, renew, replace, and manage the bond required for their Tennessee license or NMLS filing.
Use this page to compare Tennessee Mortgage Lender, Mortgage Loan Broker, Mortgage Loan Servicer, Mortgage Loan Originator coverage, Industrial Loan and Thrift Registration, combination Broker/Lender/Servicer, renewal bond, and NMLS filing requirements, view Jet pricing, and get filing support for your Tennessee license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. Tennessee mortgage and industrial loan bond requirements can change. Confirm the final license or registration type, bond amount, Tennessee loan volume, renewal year, office location count, NMLS record, and Tennessee Department of Financial Institutions checklist before filing.
Tennessee Mortgage Bond Quick Answers
Which bonds are covered?
This page covers Tennessee Mortgage Lender Bonds, Mortgage Loan Broker Bonds, Mortgage Loan Servicer Bonds, Mortgage Loan Originator Bond Coverage, Industrial Loan and Thrift Registration Bonds, Combination Broker/Lender/Servicer Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The Tennessee Department of Financial Institutions regulates mortgage lenders, mortgage loan brokers, mortgage loan servicers, mortgage loan originators, and industrial loan and thrift companies.
What are the common limits?
Initial mortgage lender bonds are $200,000, initial mortgage loan broker bonds are $90,000, mortgage loan servicer bonds are $200,000, and Industrial Loan and Thrift Registration bonds are generally $50,000 or $200,000.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your Tennessee Mortgage License Bond
The correct Tennessee bond depends on whether the company is applying as a mortgage lender, mortgage loan broker, mortgage loan servicer, industrial loan and thrift company, or a combination licensee. Tennessee uses NMLS for mortgage license applications, amendments, renewals, and Industrial Loan and Thrift Registration filings. Renewal mortgage bond amounts are based on Tennessee residential mortgage loan volume from the prior calendar year.
Mortgage Lender Bond
For Tennessee mortgage lenders that make residential mortgage loans or hold themselves out as able to make residential mortgage loans.
Initial bond limit: $200,000
Renewal limits: $100,000, $200,000, or $300,000 based on Tennessee residential mortgage loan volume
Starting price: $999 for one year or $100 monthly for the $200,000 initial bond.
Mortgage Loan Broker Bond
For Tennessee mortgage loan brokers that solicit, place, negotiate, originate, or offer to arrange residential mortgage loans for another person for compensation or gain.
Initial bond limit: $90,000
Renewal limits: $45,000, $90,000, or $135,000 based on Tennessee residential mortgage loan volume
Starting price: $449 for one year or $45 monthly for the $90,000 initial bond.
Mortgage Loan Servicer Bond
For Tennessee mortgage loan servicers that service and accept payments for residential mortgage loans.
Bond limit: $200,000
Renewal rule: A licensee that is solely a loan servicer maintains a $200,000 bond as a condition of renewal.
Starting price: $999 for one year or $100 monthly for the $200,000 bond.
Industrial Loan and Thrift Registration Bond
For Tennessee industrial loan and thrift companies, industrial banks, industrial investment companies, and endorsement companies that must obtain a certificate of registration before doing business.
Bond limits: $50,000 for most applicants; $200,000 for applicants that make or propose to make residential mortgage loans
Office rule: A separate certificate of registration is required for each office or place of business.
Starting price: $249 for one year for the $50,000 bond or $999 for one year for the $200,000 bond.
Mortgage Loan Originator Bond Coverage
For Tennessee mortgage loan originators who take residential mortgage loan applications or offer or negotiate residential mortgage loan terms for compensation or gain.
Common coverage: Mortgage lender and mortgage loan broker bonds provide coverage for each mortgage loan originator.
Separate bond: Confirm the current NMLS checklist if the MLO is not covered by an eligible company bond.
Combination Broker, Lender and/or Servicer Bond
For Tennessee companies that hold a combination of mortgage lender, mortgage loan broker, and/or mortgage loan servicer authority.
Bond rule: One bond is required in the highest amount that would apply if the licensee were solely a lender, broker, or servicer.
Common limits: $90,000, $200,000, or renewal limits up to $300,000 depending on authority and loan volume.
Mortgage Renewal Bond
For Tennessee mortgage lenders and mortgage loan brokers renewing a license after the initial license year.
Broker renewal limits: $45,000, $90,000, or $135,000
Lender renewal limits: $100,000, $200,000, or $300,000
Amount basis: Tennessee residential mortgage loans originated in the prior calendar year.
Important: Tennessee uses different bond rules for initial mortgage applications, mortgage renewal filings, mortgage loan servicers, and Industrial Loan and Thrift Registrations. New mortgage lenders generally file a $200,000 bond, new mortgage loan brokers generally file a $90,000 bond, mortgage loan servicers maintain a $200,000 bond, and Industrial Loan and Thrift Registration applicants generally file a $50,000 bond unless they make or propose to make residential mortgage loans, which requires $200,000.
Tennessee Mortgage License Bond Pricing
Jet pricing below follows the same mortgage bond pricing method used on the other state pages, with a $79 minimum one-year premium. The one-year price is generally 0.5% of the bond limit. If the calculated one-year price ends in zero, Jet subtracts $1 before calculating multi-year options. The two-year price is 1.75 times the one-year price, and the three-year price is 2.5 times the one-year price. Monthly pricing is 10% of the one-year price, rounded when needed.
| Bond Limit | Common Tennessee Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $45,000 | Mortgage Loan Broker renewal lowest tier | $23 | $225 | $394 | $563 |
| $50,000 | Industrial Loan and Thrift Registration Bond for applicants not making residential mortgage loans | $25 | $249 | $436 | $623 |
| $90,000 | Initial Mortgage Loan Broker Bond or broker renewal middle tier | $45 | $449 | $786 | $1,123 |
| $100,000 | Mortgage Lender renewal lowest tier | $50 | $499 | $873 | $1,248 |
| $135,000 | Mortgage Loan Broker renewal highest tier | $68 | $675 | $1,181 | $1,688 |
| $200,000 | Initial Mortgage Lender Bond, Mortgage Loan Servicer Bond, or Industrial Loan and Thrift applicant making residential mortgage loans | $100 | $999 | $1,748 | $2,498 |
| $300,000 | Mortgage Lender renewal highest tier | $150 | $1,499 | $2,623 | $3,748 |
Pricing shown is preferred-tier pricing and may vary based on underwriting approval, bond form, selected term, effective date, final required bond amount, license type, Tennessee loan volume, industrial loan and thrift lending activity, NMLS filing status, and Tennessee Department of Financial Institutions requirements.
Get Tennessee Mortgage Bond Pricing
Start a quote online and select the Tennessee bond that matches your license or NMLS checklist. Jet can help confirm whether you need a Mortgage Lender Bond, Mortgage Loan Broker Bond, Mortgage Loan Servicer Bond, Industrial Loan and Thrift Registration Bond, Mortgage Loan Originator coverage, renewal bond rider, or combination Broker/Lender/Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
Tennessee Mortgage Bond Requirements
Tennessee law requires a person to obtain a license before acting as a mortgage lender, mortgage loan broker, or mortgage loan servicer in the state. Tennessee mortgage company and mortgage loan originator applications, amendments, and renewal filings are submitted through NMLS.
Tennessee also requires a certificate of registration before engaging in business as an industrial loan and thrift company, industrial bank, or industrial investment company. A separate Industrial Loan and Thrift certificate of registration is required for each office or place where the business is conducted, and Industrial Loan and Thrift applications, amendments, and renewals are handled through NMLS.
The Tennessee mortgage bond must be payable to the State of Tennessee, in a form approved by the commissioner, and issued by a bonding company qualified to do business in Tennessee. The bond is for the benefit of any person injured by the wrongful act, default, fraud, or misrepresentation of the licensee.
| Tennessee License or Authority | Bond Amount | How the Requirement Works | Quote |
|---|---|---|---|
| Mortgage Lender License | $200,000 initial; $100,000 to $300,000 at renewal | Initial lender bond is $200,000. Renewal amount is based on Tennessee residential mortgage loans originated in the previous calendar year. | Get Quote |
| Mortgage Loan Broker License | $90,000 initial; $45,000 to $135,000 at renewal | Initial broker bond is $90,000. Renewal amount is based on Tennessee residential mortgage loans originated in the previous calendar year. | Get Quote |
| Mortgage Loan Servicer License | $200,000 | A licensee that is solely a mortgage loan servicer maintains a $200,000 bond. | Get Quote |
| Industrial Loan and Thrift Registration | $50,000 or $200,000 | Most Industrial Loan and Thrift applicants provide a $50,000 bond or letter of credit. Applicants that make or propose to make residential mortgage loans must provide a $200,000 bond or letter of credit. | Get Quote |
| Mortgage Loan Originator Coverage | Covered by mortgage lender or mortgage loan broker bond when eligible | Tennessee mortgage lender and mortgage loan broker bonds provide coverage for each mortgage loan originator. Confirm separate coverage only if the MLO is not covered by an eligible company bond. | Get Help |
| Combination Broker, Lender and/or Servicer | Highest applicable amount | A combination licensee only needs one bond, but it must be in the highest amount required if the licensee were solely a lender, broker, or servicer. | Get Help |
| Mortgage Broker, Lender and/or Servicer | $45,000 to $300,000 depending on license type and renewal volume | Use the Tennessee initial amount or renewal schedule that matches the license type and Tennessee residential mortgage loan volume. | Get Quote |
Filing note: Tennessee mortgage and Industrial Loan and Thrift filings use NMLS. Confirm the legal name, NMLS ID, license or registration type, renewal year, bond amount, office location, effective date, and Tennessee Department of Financial Institutions checklist before ordering or filing the bond.
Tennessee Mortgage Bond Amounts
Tennessee uses initial bond amounts for first-year mortgage licensing and loan-volume-based bond amounts at renewal. A solely licensed mortgage loan servicer maintains a $200,000 bond. Industrial Loan and Thrift Registration applicants generally provide a $50,000 bond, while applicants making or proposing to make residential mortgage loans provide a $200,000 bond.
Initial Tennessee Mortgage and Industrial Loan Bond Amounts
| Tennessee Requirement | Initial Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Industrial Loan and Thrift Registration | $50,000 | $25 | $249 |
| Mortgage Loan Broker | $90,000 | $45 | $449 |
| Mortgage Lender | $200,000 | $100 | $999 |
| Mortgage Loan Servicer | $200,000 | $100 | $999 |
| Industrial Loan and Thrift Registration Making Residential Mortgage Loans | $200,000 | $100 | $999 |
| Combination Lender/Broker/Servicer | Highest applicable amount | Varies | Varies |
Mortgage Loan Broker Renewal Bond Amounts
| Tennessee Residential Mortgage Loans Originated | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Less than $10,000,000 | $45,000 | $23 | $225 |
| $10,000,000 or more but less than $50,000,000 | $90,000 | $45 | $449 |
| $50,000,000 or more | $135,000 | $68 | $675 |
Mortgage Lender Renewal Bond Amounts
| Tennessee Residential Mortgage Loans Originated | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Less than $10,000,000 | $100,000 | $50 | $499 |
| $10,000,000 or more but less than $50,000,000 | $200,000 | $100 | $999 |
| $50,000,000 or more | $300,000 | $150 | $1,499 |
Renewal note: If the renewal application is filed in the same year the license was issued or in the year after the license was issued, Tennessee requires the $200,000 lender bond or $90,000 broker bond as the renewal amount. After that, the renewal bond amount follows the loan-volume schedules above.
Tennessee Mortgage Lender Bond
The Tennessee Mortgage Lender Bond applies to mortgage lenders licensed under the Tennessee Residential Lending, Brokerage and Servicing Act. A mortgage lender is a person who makes a residential mortgage loan or holds itself out as able to make a residential mortgage loan.
License Type
Tennessee Mortgage Lender License.
Bond Limits
$200,000 initial bond; $100,000, $200,000, or $300,000 at renewal based on Tennessee loan volume.
Starting Price
$999 for one year or $100 monthly for the $200,000 initial bond.
Use this option when the Tennessee or NMLS checklist references Mortgage Lender License, mortgage lending, lender authority, company MLO coverage, or a Tennessee Mortgage Lender Bond.
Tennessee Mortgage Loan Broker Bond
The Tennessee Mortgage Loan Broker Bond applies to mortgage loan brokers licensed under the Tennessee Residential Lending, Brokerage and Servicing Act. A mortgage loan broker solicits, places, negotiates, originates, or offers to arrange a residential mortgage loan for another person for compensation or gain.
License Type
Tennessee Mortgage Loan Broker License.
Bond Limits
$90,000 initial bond; $45,000, $90,000, or $135,000 at renewal based on Tennessee loan volume.
Starting Price
$449 for one year or $45 monthly for the $90,000 initial bond.
Use this option when the Tennessee or NMLS checklist references Mortgage Loan Broker License, mortgage broker authority, brokered mortgage loans, table-funded transactions, or a Tennessee Mortgage Loan Broker Bond.
Tennessee Mortgage Loan Servicer Bond
The Tennessee Mortgage Loan Servicer Bond applies to mortgage loan servicers licensed under the Tennessee Residential Lending, Brokerage and Servicing Act. A mortgage loan servicer is a person who, in the regular course of business, assumes responsibility for servicing and accepting payments for a residential mortgage loan.
License Type
Tennessee Mortgage Loan Servicer License.
Bond Limit
$200,000.
Jet Pricing
$999 for one year, $100 monthly, $1,748 for two years, or $2,498 for three years.
Use this option when the Tennessee or NMLS checklist references Mortgage Loan Servicer License, loan servicing, servicing and accepting payments, or a Tennessee Mortgage Loan Servicer Bond.
Tennessee Industrial Loan and Thrift Registration Bond
The Tennessee Industrial Loan and Thrift Registration Bond applies to applicants proposing to engage in business as an industrial loan and thrift company under the Tennessee Industrial Loan and Thrift Companies Act. Tennessee defines an industrial loan and thrift company as a person engaged in the business of making loans and imposing the interest and loan charges authorized by the Act, including endorsement companies.
A separate certificate of registration is required for each office or other place where the business is conducted. Tennessee Industrial Loan and Thrift applications, amendments, and renewal filings must be made through NMLS.
Registration Type
Tennessee Industrial Loan and Thrift Registration.
Bond Limits
$50,000 for most applicants; $200,000 for applicants that make or propose to make residential mortgage loans.
Starting Price
$249 for one year for the $50,000 bond or $999 for one year for the $200,000 bond.
Use this option when the Tennessee or NMLS checklist references Industrial Loan and Thrift Registration, TILT, Industrial Loan and Thrift Company, industrial bank, industrial investment company, endorsement company, or a Tennessee Industrial Loan and Thrift Bond.
Tennessee Mortgage Loan Originator Bond Coverage
Tennessee mortgage loan originator license applications, amendments, and renewal filings must be submitted through NMLS. A mortgage loan originator is generally an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan.
Tennessee mortgage lender and mortgage loan broker bonds provide coverage for each mortgage loan originator. Confirm the current NMLS checklist before purchasing any separate MLO coverage.
License Type
Tennessee Mortgage Loan Originator License.
Common Coverage
Covered through the licensed mortgage lender or mortgage loan broker bond when eligible.
Separate Coverage
Confirm the current NMLS checklist if the MLO is not covered by an eligible company bond.
Tennessee Combination Mortgage Broker, Lender and/or Servicer Bond
A Tennessee company that is licensed as a combination of mortgage lender, mortgage loan broker, and/or mortgage loan servicer only needs one surety bond, but that bond must be in the highest amount required if the company were licensed solely as a lender, broker, or servicer.
License Type
Combination Tennessee mortgage lender, broker, and/or servicer authority.
Bond Rule
One bond in the highest applicable amount.
Common Limits
$90,000, $200,000, or renewal limits up to $300,000 depending on authority and volume.
Use this option when the Tennessee or NMLS checklist references multiple authorities, including broker/lender, lender/servicer, broker/servicer, or broker/lender/servicer activity.
Tennessee Mortgage Bond Comparison
Tennessee mortgage and industrial loan bond requirements depend on the license or registration type, whether the mortgage license is initial or renewal, Tennessee residential mortgage loan volume, whether the company holds one mortgage authority or a combination of broker, lender, and servicer authority, and whether an Industrial Loan and Thrift applicant makes or proposes to make residential mortgage loans.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Mortgage Lender Bond | Tennessee Department of Financial Institutions | $200,000 initial; $100,000 to $300,000 renewal based on Tennessee loan volume | NMLS company license record |
| Mortgage Loan Broker Bond | Tennessee Department of Financial Institutions | $90,000 initial; $45,000 to $135,000 renewal based on Tennessee loan volume | NMLS company license record |
| Mortgage Loan Servicer Bond | Tennessee Department of Financial Institutions | $200,000 | NMLS company license record |
| Industrial Loan and Thrift Registration Bond | Tennessee Department of Financial Institutions | $50,000, or $200,000 if making or proposing to make residential mortgage loans | NMLS registration record |
| Mortgage Loan Originator Coverage | Tennessee Department of Financial Institutions | Covered by lender or broker bond when eligible | NMLS MLO license and sponsorship record |
| Combination Broker/Lender/Servicer Bond | Tennessee Department of Financial Institutions | Highest applicable amount | NMLS company license record |
How Tennessee Mortgage Bond Quotes Work
1
Confirm the Tennessee License or Registration
Identify whether the checklist references Mortgage Lender, Mortgage Loan Broker, Mortgage Loan Servicer, Mortgage Loan Originator coverage, Industrial Loan and Thrift Registration, or a combination Broker/Lender/Servicer license.
2
Confirm the Bond Amount
Use $200,000 for initial lender, $90,000 for initial broker, $200,000 for servicer, $50,000 or $200,000 for Industrial Loan and Thrift Registration, or the applicable renewal schedule based on Tennessee residential mortgage loan volume.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current Tennessee Department of Financial Institutions and NMLS process.
Need a Tennessee Mortgage or Industrial Loan Bond?
Jet can help you choose the correct Tennessee Mortgage Lender Bond, Mortgage Loan Broker Bond, Mortgage Loan Servicer Bond, Industrial Loan and Thrift Registration Bond, MLO coverage, renewal bond, or combination Broker/Lender/Servicer Bond, review pricing, and get the bond issued for licensing.
Tennessee bond pricing starts at $249 for one year for the $50,000 Industrial Loan and Thrift Registration Bond, $449 for one year for the $90,000 initial Mortgage Loan Broker Bond, and $999 for one year for the $200,000 Mortgage Lender, Mortgage Loan Servicer, or residential mortgage Industrial Loan and Thrift Bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are Tennessee Mortgage Bonds Filed?
Tennessee mortgage company, mortgage loan originator, and Industrial Loan and Thrift applications, amendments, and renewals are handled through NMLS. The bond should match the legal name, NMLS ID, license or registration type, bond amount, effective date, renewal year, office location, and Tennessee Department of Financial Institutions checklist.
Before ordering, confirm whether the bond is for a mortgage lender, mortgage loan broker, mortgage loan servicer, combination licensee, MLO coverage through a company bond, or Industrial Loan and Thrift Registration.
NMLS Filing
The Tennessee bond should match the NMLS record, legal name, license or registration type, bond amount, and effective date.
MLO Coverage
Mortgage lender and mortgage loan broker bonds provide coverage for each mortgage loan originator. Confirm coverage before ordering any separate MLO bond.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, bond amount, license type, registration office, Tennessee loan volume, residential mortgage status, or license authority.
Tennessee Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Review the bond before renewal to confirm the legal name, NMLS ID, license or registration type, Tennessee residential mortgage loan volume, renewal year, office location, and bond amount. Renewal mortgage amounts may change based on the previous calendar year’s Tennessee loan volume.
Changing the Bond
A bond change may be required if Tennessee loan volume, license type, registration type, legal name, DBA, NMLS record, combination authority, office location, or MLO coverage changes. Contact Jet before making a bond-related NMLS update.
Cancelling or Replacing Your Bond
Tennessee mortgage law requires the bond to be maintained for at least 24 months after expiration, revocation, suspension, or surrender of the license. Do not cancel or replace a required Tennessee bond until replacement coverage is accepted or the Department confirms coverage is no longer required.
What Does a Tennessee Mortgage License Bond Cover?
A Tennessee mortgage license bond is payable to the State of Tennessee and is for the benefit of any person injured by the wrongful act, default, fraud, or misrepresentation of the licensee. The bond also provides mortgage loan originator coverage when required for mortgage lender and mortgage loan broker licensees.
A Tennessee Industrial Loan and Thrift Registration Bond supports compliance with the Tennessee Industrial Loan and Thrift Companies Act and the registrant’s obligations under the Act and Department requirements. The bond is not insurance for the registrant or licensee.
If Jet pays a valid claim, the bonded principal is responsible for reimbursing Jet for the amount paid and related costs under the indemnity agreement.
How to Avoid Tennessee Mortgage Bond Claims
- Maintain continuous bond coverage for the correct Tennessee mortgage lender, mortgage loan broker, mortgage loan servicer, MLO, Industrial Loan and Thrift Registration, or combination license requirement.
- Match the bond to the exact legal name, DBA, NMLS ID, license or registration type, required bond amount, office location, and effective date.
- Use the correct Tennessee residential mortgage loan volume to determine renewal mortgage bond amounts.
- Confirm whether the license is initial, renewal in the year of issuance, renewal in the immediately following year, or a later renewal year.
- For Industrial Loan and Thrift Registration, confirm whether the applicant makes or proposes to make residential mortgage loans before selecting the $50,000 or $200,000 bond amount.
- Confirm whether a separate Industrial Loan and Thrift certificate of registration is required for each office or place where business is conducted.
- Use the highest applicable bond amount if the company has combination lender, broker, and/or servicer authority.
- Confirm whether each MLO is covered by an eligible mortgage lender or mortgage loan broker bond before purchasing separate coverage.
- Do not act as a Tennessee mortgage lender, mortgage loan broker, mortgage loan servicer, mortgage loan originator, or industrial loan and thrift company without the correct license, registration, sponsorship, and bond coverage.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Maintain required loan files, disclosures, accounting records, fee records, servicing records, office records, annual reports, and NMLS filings.
- Submit renewals, bond riders, license amendments, registration amendments, and NMLS updates on time.
- Maintain any required tangible net worth, financial statements, qualified individual, experience, branch, office, or compliance requirements in addition to the surety bond.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
Tennessee Mortgage License Bond FAQ
What Tennessee mortgage bonds are covered on this page?
This page covers Tennessee Mortgage Lender Bonds, Mortgage Loan Broker Bonds, Mortgage Loan Servicer Bonds, Mortgage Loan Originator bond coverage, Industrial Loan and Thrift Registration Bonds, combination Broker/Lender/Servicer Bonds, renewal bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the Tennessee Mortgage Lender Bond amount?
The initial Tennessee Mortgage Lender Bond amount is $200,000. Renewal bond amounts are $100,000, $200,000, or $300,000 based on Tennessee residential mortgage loan volume.
How much does a Tennessee Mortgage Lender Bond cost?
Jet pricing for a $200,000 Tennessee Mortgage Lender Bond is $999 for one year, $100 monthly, $1,748 for two years, or $2,498 for three years.
What is the Tennessee Mortgage Loan Broker Bond amount?
The initial Tennessee Mortgage Loan Broker Bond amount is $90,000. Renewal bond amounts are $45,000, $90,000, or $135,000 based on Tennessee residential mortgage loan volume.
How much does a Tennessee Mortgage Loan Broker Bond cost?
Jet pricing for a $90,000 Tennessee Mortgage Loan Broker Bond is $449 for one year, $45 monthly, $786 for two years, or $1,123 for three years.
What is the Tennessee Mortgage Loan Servicer Bond amount?
The Tennessee Mortgage Loan Servicer Bond amount is $200,000.
What is the Tennessee Industrial Loan and Thrift Registration Bond amount?
The Tennessee Industrial Loan and Thrift Registration Bond amount is generally $50,000. If the applicant makes or proposes to make residential mortgage loans, the bond amount is $200,000.
How much does a Tennessee Industrial Loan and Thrift Registration Bond cost?
Jet pricing for a $50,000 Tennessee Industrial Loan and Thrift Registration Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Jet pricing for a $200,000 bond is $999 for one year, $100 monthly, $1,748 for two years, or $2,498 for three years.
Does each Tennessee Industrial Loan and Thrift office need a registration?
Yes. Tennessee requires a separate certificate of registration for each office or other place where industrial loan and thrift business is conducted.
Does a Tennessee mortgage loan originator need a separate bond?
Not usually when the MLO is covered by an eligible mortgage lender or mortgage loan broker bond. Tennessee lender and broker bonds provide coverage for each mortgage loan originator. Confirm the current NMLS checklist if separate coverage is requested.
What happens if a Tennessee company is both a broker and lender or servicer?
A combination Tennessee licensee only needs one surety bond, but the bond must be in the highest amount required if the company were solely a mortgage lender, mortgage loan broker, or mortgage loan servicer.
How long must the Tennessee mortgage bond stay in place?
Tennessee mortgage law requires the bond to be maintained for at least 24 months after the license expires, is revoked, is suspended, or is surrendered.
Who regulates Tennessee mortgage and industrial loan bonds?
The Tennessee Department of Financial Institutions regulates Tennessee mortgage lenders, mortgage loan brokers, mortgage loan servicers, mortgage loan originators, and industrial loan and thrift companies.
Who should I contact for Tennessee mortgage bond help?
Call Jet at (855) 516-3348, email [email protected], or start a quote online for help choosing, purchasing, renewing, replacing, or changing a Tennessee mortgage or industrial loan bond.
Get the Tennessee Bond Required for Your License
Start by choosing the Tennessee bond that matches your license, registration, company record, Tennessee loan volume, renewal year, MLO coverage, broker authority, lender authority, servicer authority, industrial loan and thrift authority, office location, combination authority, or NMLS checklist. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
Tennessee bond pricing starts at $249 for one year for the $50,000 Industrial Loan and Thrift Registration Bond, $449 for one year for the $90,000 initial Mortgage Loan Broker Bond, and $999 for one year for the $200,000 Mortgage Lender, Mortgage Loan Servicer, or residential mortgage Industrial Loan and Thrift Bond.
Call: (855) 516-3348
Email: [email protected]