2 Hour TN SAFE: Tennessee Mortgage Lending Laws

​​​​​​​This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Tennessee under the Tennessee Department of Financial Institutions (TDFI). This 2-hour course covers Tennessee-specific rules and regulations as mandated by the department, and is required as part of the 20 hours of prelicensure education needed to become a Tennessee-licensed mortgage loan originator.

Topics and Learning Objectives

This course consists of 5 parts and a final exam:

• The Laws that Govern an MLO
• Initial Licensure for the Tennessee MLO
• Annual License Renewal
• Professional Behavior
• Disciplinary Action for Wrongful Behavior
• Final Exam

Total study time: 2 credit hour (100 minutes)

Module 1: The Laws that Govern an MLO

In this introductory unit, we'll describe the agencies involved in mortgage loan originator licensing in our state. We'll also go over important definitions and explain how a license applicant can request information be updated in the licensing registry.

Module 2: Initial Licensure for the Tennessee MLO

In this module we'll outline the steps for submitting an application for a Tennessee mortgage loan originator license. You'll also learn about the qualifications you need to meet in order to be qualified for licensure.

Module 3: Annual License Renewal

After you become licenses, you must actively maintain that authority with the TDFI. This chapter will outline how you can renew your license and what happens to your license status when you fail to do so before the annual deadline.

Module 4: Professional Behavior

While working as a licensed MLO, there are activities defined in Tennessee law that could jeopardize your license. This module will outline conduct that could result in an administrative action against your license. We'll also cover consumer protections put in place for applicants of high-cost home loans (HCHLs), a riskier loan product that can be abused by unethical licensees.

Module 5: Disciplinary Action for Wrongful Behavior

The Commissioner of TDFI has the power to enforce Tennessee mortgage lending regulations, including taking actions against licensees who fail to comply with the law. This chapter will outline the Commissioner's authority and the actions that can be taken against a licensee's license.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center