Before beginning the educational component of licensing, prospective Loan Officers must create an NMLS (Nationwide Multistate Licensing System & Registry) account on the State Mortgage Registry website. NMLS is a national database in which all MLOs must register. After creating their account, applicants receive a personal NMLS number that will be maintained for the duration of their time working as a Loan Officer.

In Tennessee, you’re required to complete 20 hours of coursework in order to meet the education requirements. The courses include the following:

• 3 hours of Federal Law

• 3 hours of Ethics

• 2 hours of Non-Traditional Mortgage Lending

• 10 hours of General Electives

• 2 hours of Tennessee-specific defined electives

The Tennessee-specific 2-hr. course is required by the Tennessee state licensing agency, also known as the Tennessee Department of Financial Institutions.

The SAFE MLO Test can be scheduled by visiting the NMLS website. Applicants use their existing account number to schedule the exam. The exam has 115 scored questions, and test takers must answer at least 75% correctly. It costs $110 to take, and students are given 3 hours and 10 minutes to complete the test. You can learn more by reviewing the MLO Testing Handbook.

Applicants will need to login into their NMLS account and head to the Filing section. From there, click on the Criminal Background Check tab. You will authorize a Federal Criminal Background Check by completing the fields and clicking Attest.

Then, applicants must schedule an appointment to submit their fingerprints. In the portal, users will click on the Composite View button then select Criminal Background Requests. In this module, you can schedule your fingerprinting appointment by clicking the “Fieldprint” button.

The total cost of the state and FBI criminal background check is $36.25.

Now it’s time to submit for official Tennessee licensure through NMLS. Applicants will apply through the NMLS licensing portal. Applicants are advised to review the MLO New Application checklist beforehand in order to ensure they’re ready to apply.

You’ll need to pay $100 for the Tennessee portion of the licensing fee and $100 for the Application Fee. Additionally, a credit report must be submitted at the time of application for a fee of $15.

Your Loan Officer License will remain in pending status until your employing sponsorship is verified with NMLS. This verification is completed inside of the NMLS portal. Users will visit the Form Filing Home screen, then click Company Access. They’re then prompted to add their employer sponsorship by submitting employment details. Once the sponsoring employer receives notice of the verification request, they can approve the sponsorship. Upon approval, applicants are officially licensed.