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How to Get an NMLS Mortgage License in Tennessee
If you have been asking yourself, “how do I get a mortgage license in Tennessee?”, this guide will tell you exactly how to do it. If you are wondering how to become a mortgage loan originator and get an NMLS license Tennessee is a great state in which to start. A mortgage loan originator, or mortgage loan officer, helps prospective homebuyers obtain a residential mortgage loan. The mortgage business is a fast-paced industry with plenty of opportunities for an up-and-coming mortgage loan originator.
In order to become a licensed mortgage loan originator in Tennessee, you will have to complete the steps which are outlined below. Additionally, you should consider the costs, education requirements, and other factors discussed in this guide that go into becoming a loan officer in the state of Tennessee.
Step 1
Step 2
Step 3
Apply For Your NMLS Account and ID Number
Complete Your NMLS Pre-License Education
Need to Pass the SAFE MLO National Test
The first step to obtaining your Tennessee mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.
To get a Tennessee mortgage license, take the required 20 (18+2) hours of classes, including 2 hours of Tennessee-focused electives and 18 hours of general mortgage education.
With your education complete, you need to schedule an appointment for the National Test Component exam and take the NMLS test. Find out more on how to take your NMLS exam here.
Step 4
Step 5
Step 6
Complete Background Checks and Pay All Fees
Apply for Your Tennessee Mortgage License
Associate Your NMLS Account with Your Employer
To finalize your application and receive your license, you will need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check here.
After receiving a passing score on your NMLS mortgage exam, you need to apply for your Tennessee NMLS license. You can find more information on this step here.
Your license will still be pending in Tennessee until you have an employer sponsorship, which lets the government know that an employer is supervising your license. Learn how to associate your NMLS account with your employer here.
The Value of a Tennessee Mortgage License
A mortgage license allows mortgage loan originators to help prospective homebuyers. That begins with completing a residential mortgage loan application, which cannot be completed without first being licensed.
Ask yourself, what do you want out of a career? If you’re like others who hold an NMLS license in Tennessee, you want to have a significant impact on people in your community and state. You want to serve them in something important: making the largest purchase of their lives. If you have a sociable personality and a love of learning, your career will be filled with variety, excitement, and passion.
But how do you get through the process and complete every detail? Mortgage Educators has guided many others like you to an NMLS license. Our education bundles—taking you through your combined 20 hours of test-preparation classes—and practice tests simplify the process and get you ready for your exam. We are committed to helping you start your career as quickly and efficiently as you can.
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Tennessee Frequently Asked Questions
In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement
for Mortgage Licensing Act (SAFE) was enacted. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with
loan products.
Topic
Hours Required
Fair Lending, Ethics, Fraud, and Consumer Protection
3 Hours
Federal Laws and Regulations
3 Hours
Non-Standard Lending
2 Hours
Undefined Electives
10 Hours
Tennessee Specific Education
2 Hours
Total 20 Hours
If you complete the required 20 hours of education but do not obtain your license for a 3-year period, you'll need to repeat the coursework.
The same applies if you let your license lapse for 3+ years before you want to get back into the industry.
A “mortgage broker” refers to an individual or an organization that connects consumers with mortgage loans from a variety of companies.
Mortgage brokers frequently employ loan officers. In contrast, a loan officer is an employee who regularly works with borrowers and provides loans that are originated by their employer.
Brokers and loan officers need different types of licenses.
Earning your mortgage broker license in Tennessee should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Tennessee:
NMLS Fees
NMLS Initial Processing Fee
$30
Tennessee License & Registration Fee
$100
Tennessee Application Fee
$100
Credit Report
$15
FBI Criminal Background Check
$36.25
Total License Cost
$281.25
On an annual basis, Tennessee MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:
Topic
Required Hours
Federal Regulations and Law
3 Hours
Ethics, including consumer protection, fair lending
2 Hours
Non-Traditional mortgage lending
2 Hours
General Elective
1 Hour
Remember to take into account the “successive years” rule, which prohibits loan officers from taking the same CE course two years in a row.
Mortgage Educators changes its continuing education course annually to ensure there are no issues with the successive years rule.
The deadline to complete CE in Tennessee is December 15th. MLO's in Tennessee are actually prevented from applying for license renewal until they have completed their CE.
Keep in mind you'll need to complete a background check and credit check if you have not in the last 3 years. The TN renewal fee is $100.
Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Tennessee mortgage license.
For additional questions, feel free to call us at (801) 676-2520 or email us at [email protected].
Get Your Tennessee Mortgage License with Mortgage Educators
In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE) was enacted. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.
| Topic | Hours Required |
|---|---|
| Fair Lending, Ethics, Fraud, and Consumer Protection | 3 Hours |
| Federal Laws and Regulations | 3 Hours |
| Non-Standard Lending | 2 Hours |
| Undefined Electives | 10 Hours |
| Tennessee Specific Education | 2 Hours |
| Total 20 Hours | |
If you complete the required 20 hours of education but do not obtain your license for a 3-year period, you'll need to repeat the coursework. The same applies if you let your license lapse for 3+ years before you want to get back into the industry.
A “mortgage broker” refers to an individual or an organization that connects consumers with mortgage loans from a variety of companies. Mortgage brokers frequently employ loan officers. In contrast, a loan officer is an employee who regularly works with borrowers and provides loans that are originated by their employer. Brokers and loan officers need different types of licenses.
Earning your mortgage broker license in Tennessee should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Tennessee:
| NMLS Fees | |
|---|---|
| NMLS Initial Processing Fee | $30 |
| Tennessee License & Registration Fee | $100 |
| Tennessee Application Fee | $100 |
| Credit Report | $15 |
| FBI Criminal Background Check | $36.25 |
| Total License Cost | $281.25 |
On an annual basis, Tennessee MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:
| Topic | Required Hours |
|---|---|
| Federal Regulations and Law | 3 Hours |
| Ethics, including consumer protection, fair lending | 2 Hours |
| Non-Traditional mortgage lending | 2 Hours |
| General Elective | 1 Hour |
Remember to take into account the “successive years” rule, which prohibits loan officers from taking the same CE course two years in a row.
Mortgage Educators changes its continuing education course annually to ensure there are no issues with the successive years rule.
The deadline to complete CE in Tennessee is December 15th. MLO's in Tennessee are actually prevented from applying for license renewal until they have completed their CE.
Keep in mind you'll need to complete a background check and credit check if you have not in the last 3 years. The TN renewal fee is $100.
Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Tennessee mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at [email protected].
Are you excited about serving your community in Tennessee as a loan officer? Then take advantage of our special education bundle that will help you get your pre-license courses completed quickly. Gain the knowledge you need with Mortgage Educators today!
