Tennessee MLO Study guides, Class notes & Summaries

Tennessee MLO Questions and Answers Rated A+ In order to qualify for licensure, lenders, brokers and servicers are required to obtain a surety bond payable to the state Mortg Lenders Surety Bond The minimum/initial bond amount is $200,000 Mortg Brokers Surety Bond The minimum/initial bond amount is $90,000 Mortg Loan SERVICERS Surety BOND is Actually just $200,000 In the event a recovery action is filed against the bond.. he licensee is required to immediately post a new bond...