What are the Tennessee and S.A.F.E. requirements for Fingerprint/Background Checks for Licensure?
In Tennessee, under Public Chapter No. 821, beginning 1/01/09, all NEW applicants for a mortgage loan originator registration, including those changing companies, and all control people in a mortgage company, broker, lender, or servicer, applying for a new license must submit to a criminal background/fingerprint check. This also applies to any company that does not timely transition to the NMLS and must file a new application for 2010. The Department will require these control people to submit to the fingerprint check: Managing Principal, Managing Members of an LLC, Branch Manager, Executive Officers, General Partner, Equitable 25% Owner, and any other individual who directs the affairs of the company or establishes policy. Beginning on January 1, 2009, all mortgage loan originators applying for a NEW registration must submit to a criminal background/fingerprint check. In addition, all existing mortgage loan originators will have to submit to criminal background/fingerprint checks in a
