What a Tennessee mortgage loan officer license costs
The number a course provider advertises is one line of this bill. Before you originate a single loan in Tennessee you also owe the Nationwide Multistate Licensing System, usually written NMLS, for processing your application, a background check, a credit report and the Secure and Fair Enforcement (SAFE) Act test for mortgage loan originators, and you owe Tennessee Department of Financial Institutions for the license itself. Those fees are owed whichever course you pick, so comparing tuition alone understates what getting licensed costs. Everything below is a one-time cost per person unless it says otherwise.
Fees you pay whichever course you choose
| NMLS initial set-up fee Charged when you first file the individual MU4 form. | $35 |
| SAFE MLO test fee One national test. Every state has adopted it, so there is no second state exam to pay for. | $110 |
| Criminal background check Add a $10 card packet fee if you submit fingerprints on a print card rather than by Livescan. | $36 |
| Credit report Charged at new application unless NMLS already holds a report less than 30 days old. | $15 |
| Tennessee Mortgage Loan Originator License application fee Paid to Tennessee Department of Financial Institutions. | $100 |
| Tennessee license registration fee Charged alongside the $100 application fee. Tennessee Code 45-13-302(a) sets the statutory licensing fee at $100 and allows the commissioner to change it by rule. | $100 |
| Fees total | $396 |
Course tuition
Tennessee courses in our comparison run from $70 to $639. That has to cover all 20 required hours , and where a package includes the state-specific hours the comparison table says so.
Cheapest realistic total
$466 using the cheapest listed course
What it costs every year after that
The license is renewed annually. Budget $35 for the NMLS annual processing fee, whatever Tennessee Department of Financial Institutions charges to renew, and the cost of your continuing education hours.