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Financial Services Law Insights and Observations

Tennessee suspends certain requirements for MLO license renewals for 2021

State Issues Covid-19 Tennessee Mortgage Licensing MLO

State Issues

On October 22, the Tennessee Department of Financial Institutions issued a memorandum to licensed mortgage loan originators suspending its requirement that licensees complete a criminal background check or authorize a credit report if they have not done so in the past three years as a condition to renewal for calendar year 2021, except where the mortgage loan originator has entered into a consent agreement with the department requiring such actions. The memorandum states the requirement will be in effect for licensee renewal for calendar year 2022.

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