The Tennessee Department of Financial
Institutions regulates all aspects of the Mortgage Broker and real estate industry. As
of June 2009 they administered licenses for 857 Mortgage Companies and 7,510 Mortgage
Originators. Their offices are in Nashville.
All Tennessee mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Tennessee-required content.
A minimum of eight hours per year of continuing
education is required per year, per the SAFE act..
The licensing fee for NMLS for
Loan Originators is $269. The licensing fee for a broker
is $700. Click on the links in the preceding sentences for more details about each
Applicants who wish to obtain a Mortgage Broker License in Tennessee must provide either a
or Irrevocable Letter of Credit with a 3-year term, audited
financial statements reflecting a minimum net worth of $25,000, a ten-year history of
their business and employment activities, and a personal disclosure of any negative
financial facts or criminal activity. The Department performs an independent investigation
of all facts.
The Tennessee Association of Mortgage Brokers
is an affiliate of the National Association of Mortgage
(NAMB), . Both organizations aim at advancing both the knowledge and
understanding of the real estate industry for those who desire to become a Mortgage
Broker in Tennessee
and for those already licensed.
Tennessee Mortgage Forms
Tennessee Reciprocity States
- Most Mortgage forms can be obtained online.
Ones listed below pertain to new salespersons and
- Bond Form
(as of 2/23/2010)
Tennessee Approved Mortgage Schools Prelicensing and Postlicensing
Abacus Mortgage Training
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Department of Financial Institutions website for
the latest list of approved schools.