Mortgage Loan Originator Registration
Information and Instructions

INFORMATION:

To register a mortgage loan originator, T.C.A. § 45-13-126(b) requires a licensee or registrant to submit to the commissioner a completed registration form. The registration form shall be in writing and under oath, in a form prescribed by the commissioner. The registration form shall contain any information the commissioner deems necessary, including the following:

1. The name of the licensee or registrant for whom the mortgage loan originator will provide services as a mortgage loan originator
   
   
2. The mortgage loan originator’s name, birth date, social security number, and address,
   
   
3. The location where the mortgage loan originator shall engage in mortgage business, activities

T.C.A. § 45-13-102(13) defines a “mortgage loan originator” as an individual who provides services to one and not more than one licensee or registrant, is subject to the direct supervision and control of that licensee or registrant, and in exchange for compensation by that licensee or registrant, performs any one or more of the acts described in T.C.A. § 45-13-102(12). The term does not include an employee of a licensee or registrant whose job responsibilities are limited to clerical tasks.

T.C.A. § 45-13-102(12) specifies the types of acts which a mortgage loan originator may perform as follows: any person who for compensation or other gain, paid directly or indirectly, or in expectation of compensation or other gain, solicits, places, negotiates or originates mortgage loans for others, or offers to solicit, place, negotiate or originate mortgage loans for others or who closes mortgage loans which may be in the mortgage loan broker’s own name with funds provided by others and which loans are thereafter assigned to the person providing the funding of such loans; regardless of whether the acts are done directly or indirectly, through contact by telephone, by electronic means, by mail, or in person with the borrowers or potential borrowers.

INSTRUCTIONS:

1. One Managing Principal for each licensee/registrant must be designated to be primarily responsible for the operations of that entity. Also, there must be a designated Branch Office Manager for each branch office located in Tennessee. The “Designation of Managing Principal” and “Designation of Branch Office Manager” forms must be completed and returned with the mortgage loan originator registration forms.

2. The “Mortgage Loan Originator Registration” form must be completed by the Managing Principal of the mortgage licensee or registrant, as defined in T.C.A. § 45-13-102(8). When registering large numbers of mortgage loan originators, you are encouraged to send a disk containing an Excel spreadsheet listing all requested information about mortgage loan originators. The spreadsheet must contain the information, separated by “columns”, in the exact order as the form requests. If providing a disk, at least one completed, signed, and notarized registration form must accompany the disk.

3. A single check in payment must be included with the registration form(s) to cover the registration fee of one hundred dollars ($100.00) per mortgage loan originator.

4. The “Notification of Change of Status” form must be used to notify the Department of a change in Managing Principal or Branch Manager, change of address for licensee/registrant, branch, or loan originator, request for substitute license or certificate of registration, and/or termination/resignation of a loan originator.

5. Please make copies of forms as needed. Incomplete forms will not be processed and will be returned.