Bond Details

Tennessee Mortgage Lender Bond – $25,000 bond – $1,200 per year

Overview

The Department of Financial Institutions requires Tennessee mortgage loan lenders to obtain a $200,000 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 servicer's financial history and creditworthiness. The NNA has secured a $1,200 flat rate for all Tennessee mortgage loan lenders.