Any person or entity applying for or holding a license as a mortgage loan broker in Tennessee. Required when: Filing an application for a mortgage loan broker license under the Tennessee Residential Lending, Brokerage and Servicing Act. Exemptions: Bona fide nonprofit corporations, government agencies, and certain ind…
Overview
What it is.
Any person or entity applying for or holding a license as a mortgage loan broker in Tennessee. Required when: Filing an application for a mortgage loan broker license under the Tennessee Residential Lending, Brokerage and Servicing Act. Exemptions: Bona fide nonprofit corporations, government agencies, and certain ind…
Who usually needs it
Any person or entity applying for or holding a license as a mortgage loan broker in Tennessee.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateTNBond amountFor the first calendar year of licensing, the bond amount is $90,000. For renew…Term lengthContinuousObligeeTennessee Department of Financial InstitutionsRenewalThe bond must be maintained and the penal sum adjusted annually during the license renewal period (on or before December 31) based on the licensee's loan origination volume from the previous calendar year.Bond classMiscellaneous CommercialCategoryFinancial ServicesBondSurety BondStatutory referenceTenn. Code Ann. § 45-13-204JurisdictionState
