The Tennessee Litigation Financier Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Money Transmitter Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Flexible Credit License Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Title Pledge Lender Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Securities Dealers or Investment Advisers Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Credit Services Business Bond starts at $1000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Tennessee Mortgage Broker, Lender or Servicer Bond starts at $900 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Finance and mortgage broker bonds are legally binding agreements between three parties:
The bonds provide a guarantee that licensed finance professionals conduct business in compliance with the regulations set forth in the Tennessee Code Annotated Title 45 Chapter 13
If the finance professional fails to comply with the regulations, the surety company will pay out financial losses to damaged parties up to the full bond amount. The finance professional is liable to reimburse the surety for any damages paid under the bond.
The Tennessee Department of Financial Institutions requires mortgage brokers to post a $90,000 surety bond as part of the licensing process. Mortgage lenders and servicers must post a $200,000 bond.
The required bond costs for other finance bonds in Tennessee are as follows:
The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for Tennessee finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage broker bonds in Tennessee for premiums as low as $750.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Tennessee mortgage broker bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
You can get your Tennessee Mortgage License by meeting the following requirements:
For information on obtaining other finance licenses in Tennessee, you can visit the NMLS Resource Center.
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
