Bond Details

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

Overview

The Department of Financial Institutions requires Tennessee mortgage loan servicers to get a $200,000 mortgage loan broker bond as part of the licensing process. This bond is a financial safeguard for clients and the state if the licensee 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 Servicers.