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Tennessee Mortgage Broker, Lender or Servicer Surety Bond

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The State of Tennessee Department of Finance administers through the National Mortgage Licensing System (NMLS), the licensing of Mortgage Brokers, Mortgage Servicers and Mortgage Lenders. The Tennessee Code Annotated Title 45 Chapter 13 defines the requirements for a mortgage broker license, a mortgage servicer license or mortgage lender license.

Surety bonds must be purchased by a surety company that is licensed to do business in the state. SuretyGroup.com is licensed in Tennessee and meets this requirement.

Surety Bond and License Requirements:

  1. Complete the required Tennessee Mortgage License Application through the National Mortgage Licensing System (NMLS) and pay the applicable fee.
  2. Obtain a Certificate of Authority/Good Standing Certificate through the Tennessee Secretary of State and upload into the NMLS system.
  3. Obtain a $90,000 surety bond for the mortgage broker license or $200,000 for the mortgage lender or mortgage servicer license. Applicants that will offer broker and lender or servicer services will be required to provide a $200,000 surety bond. The surety will upload the bond into the system. Surety bonds renew annually.
  4. Businesses that are a partnership, corporation, limited liability company must submit a Formation Document.
  5. Upload a Management Chart showing the applicants managers, officers, etc. for each business location.
  6. Upload an Organizational Chart if applicant is owned by another entity or individual, or has subsidiaries or affiliated entity.
  7. Submit financial statements if an established business, balance sheet, income statement, statement of cash flows compiled, reviewed or audited by a Certified Public Accountant. If a new entity, submit a Statement of Condition.
  8. Consent to a criminal background check through a fingerprint check.

How Much Will a Tennessee Mortgage Broker Bond Cost?

The premium that you pay for a Tennessee Mortgage License Surety Bond is dependent on credit and the bond amount required. Premiums start at .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific needs.

Did You Know?

A separate application is required for each branch location.

Related Links:

NMLS - Branch (MU3) Form Filing
NMLS - Tennessee Mortgage License - New Application Checklist
Read our blog, Tennessee Moves to NMLS for Title Pledge Lenders

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


For a downloadable application