Tennessee Mortgage Lender Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $200,000 | 1 Year | $1,200 |
Tennessee mortgage lenders must obtain a license under the Tennessee Residential Lending, Brokerage and Servicing Act and maintain the required surety bond. For the first calendar year of licensing in Tennessee, the mortgage lender bond is $200,000. For subsequent periods, the required penal sum reflects residential mortgage loan origination volume as determined by the Commissioner.
Cost of the Tennessee Mortgage Lender Bond
The supplied NNA/Propeller cost of the $200,000 Tennessee Mortgage Lender Bond is $1,200 for a one-year product term.
How the Tennessee Mortgage Lender Bond Works
The Tennessee Mortgage Lender Bond is payable to the State and is intended for the benefit of persons injured by covered wrongful acts, defaults, fraud, or misrepresentation of the licensee.
The bond involves three parties:
Principal: Licensed Tennessee mortgage lender
Obligee: State of Tennessee
Surety: Bonding company
A claim against the bond may arise from a covered failure to meet obligations secured by the bond. The principal is responsible for reimbursing the surety for valid covered claims paid.
How to Get the Tennessee Mortgage Lender Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Confirm the bond amount required for your licensing period and pay the applicable premium.
- Receive the required bond documentation.
- File and maintain the bond as required for your Tennessee mortgage lender license.
Learn more about Tennessee surety bond options.
Secure Your Tennessee Mortgage Lender Bond
Keep your Tennessee mortgage lender licensing requirements on track with the appropriate surety bond coverage. Complete this form or call 855-215-2160 to get bonded.