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 license.



Applicants who wish to obtain a Mortgage Broker License in Tennessee must provide either a Surety Bond 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 (TNAMB), is an affiliate of the National Association of Mortgage Brokers (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
    brokers.
  • Bond Form
N/A

(as of 2/23/2010)

 

Tennessee Approved Mortgage Schools Prelicensing and Postlicensing Education

Community Colleges

N/A

 

Private Schools
Abacus Mortgage Training
McKissock.com
TheMortgageTrainingCenter.com
Training Pro
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.