Become a Mortgage Loan Originator
With A TN MLO License

An MLO license is a Mortgage Loan Originator license. The license is issued by the Tennessee Department of Financial Institutions. It authorizes a compensated individual to take residential mortgage loan applications and negotiate the terms of residential mortgage loans secured by properties located within the state of Tennessee.

Several Tennessee MLO license requirements must be met before obtaining a license. 

• Complete the 20 Hour SAFE Comprehensive course with the 2 Hour TN SAFE: Tennessee Laws course.
• Sit for the National Mortgage Loan Originator test and pass the exam.
• Pay the required license fees through the Nationwide Multistate Licensing Service (NMLS). Attach the application with details of residency and employment history. 
• Complete fingerprinting to clear criminal background checks by the state and federal agencies.
• Submit a credit report that proves you can take financial responsibility.
• Be covered under an employer’s lending bond or obtain an individual surety bond.

The Tennessee Department of Financial Institutions issues an MLO license in Tennessee after these conditions are met.

The Tennessee Department of Financial Institutions charges a license/registration fee of $100 and an application fee of $100.

Additional  fees paid through NMLS regardless of license issuer are $36.25 for a FBI criminal background check, NMLS processing fee of $30, and $15 credit report charge.

There is also the cost of completing an MLO license course in Tennessee. The TN MLO pre-licensing courses are offered by RealEstateU for $199.

After completing the NMLS MLO pre-licensing course, you must pay $110 to take the National MLO SAFE test.

The total Tennessee MLO license cost works out to $590.25.

Several factors determine the time it takes to get an MLO license in Tennessee.

• It takes about two weeks to obtain a unique identification number from NMLS. This period includes time taken for documentation and background checks. 
• The pre-license coursework is 24 hours and this will take 14 days to complete, even if you study at your preferred pace. 
• Schedule and pass the SAFE ACT MLO test.
• Go through the checklist of requirements for new applications located here!
• Next, the Tennessee Department of Financial Institutions will review your application and the time for it depends on the number of pending new applications. Typically, the time taken at this stage is thirty to sixty days.

Hence, get an MLO license in Tennessee in 2 to 4 months after all the variables given above are considered.

The Tennessee MLO license education requirement consists of 20 hours of coursework.  This includes the National 20-hour SAFE Comprehensive course with the 2-hour TN SAFE: Tennessee Laws course.

Check out the RealEstateU MLO license course in Tennessee by scrolling up to the course packages on this page.

If you act as a mortgage loan originator for pay or other compensation on behalf of a non-depository lender offering residential mortgage loans secured by real estate located in the state of Tennessee, you are required to obtain a Tennessee Mortgage Loan Originator (MLO) license. Acting as a mortgage loan originator means taking residential mortgage loan applications and/or negotiating the terms of residential mortgage loans.

Yes. The National 20-hour SAFE Comprehensive course can be taken online as an instructor-led course that is taken over a 14-day period.  The 2-hour TN SAFE: Tennessee Laws course can be taken online as an online self-study course.

After completing the RealEstateU pre-licensing coursework, you can apply online for an MLO license through the NMLS. However, you must go to an in-person center to submit your fingerprints and sit for the MLO SAFE ACT test.

An individual who has a Tennessee Mortgage Loan Originator license can negotiate residential mortgage loan terms and take residential mortgage loan applications that have as security or collateral residential real estate located in Tennessee. In addition to “Mortgage Loan Originator”, some companies have titles such as “Loan Consultant,” “Mortgage Loan Officer,” or simply “Loan Officer" that apply to individuals filing these roles.

Generally, Mortgage Loan Originators work in Tennessee on commission. This might be a straight commission, some sort of draw against future commissions arrangement, or perhaps as salary plus commission.

Tennessee MLO employers who hire entry level mortgage loan originators understand that training and building a “pipeline” of business takes some time, so they may pay an initial salary.

Some jurisdictions in TN require general licenses for any business operating there. To get a license, register your business with the Tennessee Secretary of State.

Starting an independent mortgage brokerage business in Tennessee will require that you complete the process of obtaining an TN Mortgage License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.

Tennessee is a diverse, and highly populated state, and business conditions vary greatly between locations.

Tennessee is the 15th most populous US state with a population of over 7 million. Hence, there will always be a high demand for housing, leading to a need for residential mortgage loans. The sheer size of the residential housing market makes Tennessee a great place for the mortgage business.

First, think about your career goals before searching for a company in Tennessee to join as a Mortgage Loan Originator. 

Do you want to be a neighborhood lender, developing your source of business within a community or network? Or do you prefer the pace of a volume-driven phone bank where numerous leads pop up every day? 

After deciding on this aspect, search for and find MLO employers that fit your MLO career goals.