Tennessee Mortgage Broker License Guide

In Tennessee, all mortgage brokers, lenders, and servicers are required to obtain a license at the state level. The mortgage licenses are regulated and supervised by the Tennessee Department of Financial Institutions.

The mortgage license application process is handled by the Nationwide Mortgage Licensing System (NMLS). NMLS allows mortgage entities or loan originators to apply, update or renew a license online.

Types of Mortgage Licenses in Tennessee

There are three main state license types in the state of Tennessee: Company, Branch, and Individual. Each license type depends on the work you are going to perform. The most common license is the Mortgage License. Applicants can apply as one, or a combination, of the following: mortgage broker, mortgage lender, and mortgage servicer.

In this guide, we’ll cover the most common licenses only. You can review the full list on the NMLS website.

Most Common Company Licenses

  • Mortgage License - The TN Mortgage License is required of mortgage brokers, mortgage lenders, and/or mortgage servicers. Under this license mortgage brokers are allowed to originate, place, solicit, or negotiate mortgage loans for borrowers; mortgage lenders are allowed to make residential mortgage loans, and mortgage servicers are allowed to service and accept payments for mortgage loans.

Tennessee State Requirements

All license applications are to be submitted online via NMLS. Please note that some agency-specific documents, such as the original surety bond, need to be sent directly to the Department at Tennessee Department of Financial Institutions, Compliance Division, Tennessee Tower, 26th Floor, 312 Rosa L. Parks Avenue, Nashville, TN 37243.

For further information regarding the license requirements, you may contact the Compliance Division at (615) 253-6714 or [email protected].

For information and questions related to NMLS, you may contact their call center at (855) 665-7123.

Education and Exams

Passing an exam is obligatory for some, but not all license types. In Tennessee, you are not required to complete a pre-licensure course or pass a test to obtain a Mortgage License.

TN Mortgage Broker Bonds

Bonds for Company Licenses

  • Mortgage License - All broker applicants are required to furnish a $90,000 surety bond. Mortgage lender and servicer applicants must provide a $200,000 surety bond.

    Note: If you wish to apply as a broker and lender and/or servicer, you must submit a surety bond in the amount of $200,000.


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Licensing Fees

Fees for Company Licenses

The fees are non-refundable and must be submitted through NMLS.

  • Mortgage License
    • $1,025 license costs.
    • $100 NMLS processing fee.
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