How to get Tennessee Mortgage Loan Originator Prelicensing Education PE and TN Continuing Education CE Requirements Met
1. Get your NMLS Number as a first step to get your TN MLO License
If you have not done so already, it takes 1 -2 minutes to get your NMLS number. https://www.statemortgageregistry.com/Public/Login.aspx Click "Request an account" Click "Individual" We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now!
2. Get and complete your TN 20 Hour Prelicense Education PE Course Bundle including the best MLO test prep program available.
3. Pass the NMLS Nation Component Exam with Uniform State Test using our included test preparation program and add other states by getting and completing state PE courses
4. Apply for your Tennessee MLO License through the NMLS, the licensing system will prompt you at this point for your next steps after opening your TN Mortgage Loan Originator application.
Questions about qualifications on any part of the process? Use the chat feature on the bottom right of this webpage or click here and get answers fast!
Tennessee Mortgage Loan Originator SAFE Pre-Licensure Education Requirements
New state-licensed mortgage loan originators must complete 20 hours of NMLS approved education. This education must include 3 hours of Federal law, 3 hours of ethics and 2 hours of non-traditional mortgage lending, plus 12 hours of undefined education (referred to as electives) + 2 hours state specific law. Number of hours is 3/3/2/10/+ 2hrs of TN law = 20 TN has a requirement for 2 hours of instruction on state-specific law which may be satisfied by either taking a TN comprehensive course or a state-specific elective course.Start Now with a SAFE 20 Comprehensive, Pass the National Component with UST, Then Complete State Specific Education
How do i get my TN MLO License if I am already licensed in another state? Take a Tennessee 2 hour MLO course online, click here to get your TN 2 Hour MLO course
Note: An individual who completed 20 hours Pre-Licensure education pursuant to 12 U.S.C. 5104(c) must retake 20 hours of pre-licensure education in order to be eligible for state mortgage loan originator licensure if he or she: (1) fails to acquire a valid state license or federal registration as a mortgage loan originator within three years from the date of federal compliance with 12 U.S.C. 5104(c); or (2) fails to acquire a valid state license or federal registration as a mortgage loan originator within three years from the last date of licensure or registration as a mortgage loan originator.
TN Mortgage Loan Originator Continuing Education Requirements
Every state-licensed MLO (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the year they are licensed (unless PE was completed in the same year). Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus one additional hour of undefined education (referred to as an elective). Number of hours is 3/2/2/1 = 8 Get your SAFE 8 Comprehensive CE Course Here! MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row you can use AAA Mortgage Training every year, just can not repeat the exact same course number in successive years. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator. PE education does not count towards meeting annual CE requirements.
| Am I required to take Continuing Education this year? | |||
| If I completed SAFE Act PE in 2009-2023 | and I was licensed in 2009-2023 | am I required to complete CE in 2023 | YES |
| If I completed SAFE Act PE in 2023 | and I was approved for an initial license in 2023 | am I required to complete CE in 2023 | No |
Deadline
The deadline to complete CE is December 31, 2023. However, MLOs in Tennessee are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time
Tennessee Mortgage Regulator Contact Information
Email: TDFI.licensing@tn.gov
Phone: (615) 253-6714
Fax: (615) 253-7794
https://www.tn.gov/tdfi/mortgage-consumer-lending/mortgage.html
How much does a TN MLO license cost? $281.25 total itemized as below
NMLS Initial Processing Fee: $30
TN License/Registration Fee: $100
TN Application Fee: $100
Credit Report: $15
FBI Criminal Background Check: $36.25
Tennessee MLO NMLS Checklist TN MLO License Requirements
Who has to be licensed in TN as an MLO TN Processor?
Who Is Required To Have This TN MLO License?
This license is required of “(A) an individual who for compensation or gain or in the expectation of compensation or gain: (i) takes a residential mortgage loan application; or (ii) offers or negotiates terms of a residential mortgage loan. (B) But, does not include an individual engaged solely as a loan processor or underwriter for a registrant, unless that individual is an independent contractor and not an employee.”
Reference to Tenn. Code Ann. § 45-13-301
To access Rules Pertaining to Mortgage Lending, Loan Servicing, and Loan Brokering, click HERE, and select Chapter 0180-17
Tennessee notes
Criminal Background Check: Authorization for an FBI criminal history background check to be completed in NMLS.
After you authorize the FBI criminal history background check through the Individual Form (MU4), you must schedule an appointment to be fingerprinted. See the Completing the Criminal Background Check Process Quick Guide for information.
Note: If you are able to ‘Use Existing Prints’ to process the FBI criminal history background check, you DO NOT have to schedule an appointment. NMLS will submit the fingerprints already on file and the background check will begin to process automatically.
Credit Report: Authorization for a credit report must be completed. Upon initial authorization, you are required to complete an Identity Verification Process (IDV) within the Individual Form (MU4). See the Individual (MU4) Credit Report
Quick Guide for instructions on completing the IDV. Note: The same credit report can be used for any existing or additional licenses for up to 30 days.
Tennessee Mortgage Education Notes
Pre-licensure Education: Prior to submission of the application, complete at least 20 hours of NMLS-approved pre-licensure education (PE) courses which must include 2 hours of Tennessee content.
Note: An individual who completed 20 hours Pre-Licensure education pursuant to 12 U.S.C. 5104(c) must retake 20 hours of pre-licensure education in order to be eligible for state mortgage loan originator licensure if he or she: (1) fails to acquire a valid state license or federal registration as a mortgage loan originator within three years from the date of federal compliance with 12 U.S.C. 5104(c); or (2) fails to acquire a valid state license or federal registration as a mortgage loan originator within three years from the last date of licensure or registration as a mortgage loan originator.
Follow the instructions in the Course Completion Records Quick Guide to confirm that PE has been posted to your record and the PE Total indicates “Compliant.”