Tennessee Mortgage Broker, Lender and Servicer Bonds
Tennessee Mortgage Broker, Lender or Servicer Bond Information
The Tennessee Department of Financial Institutions requires that licensed mortgage brokers, lenders and servicers furnish a surety bond tolegally conduct business in the state of Tennessee. The bond guarantees that the bonded party will comply with the rules, regulations and guidelines established by the state. The bond amounts required are as follows;
Broker - $90,000
Lender or Servicer - $200,000
Broker and Lender and/or Servicer - $200,000
Typically, mortgage professionals will be required to apply for surety bonds in each state in which they operate and mortgage bond amounts and obligations vary by state. As a leading mortgage bond provider, Surety Bonds Direct is here to help you through this process.
How Much Does a Mortgage Bond Cost in Tennessee?