Tennessee Mortgage Lender Bond

The Department requires Tennessee mortgage loan lenders of Financial Institutions to obtain a $200,000 Mortgage Loan Lender Bond as part of the licensing process. This bond is a financial safeguard for clients and the state if the mortgage lender causes financial harm to a client. The bonding company issuing the bond usually evaluates the financial history and creditworthiness of the servicer. The NNA has secured a $1200 flat rate for all Tennessee Mortgage Loan Lenders.