What can I expect from the application process now that Tennessee is only accepting mortgage applications online through the NMLS, both as a company and an originator?
Applications submitted online through the NMLS will be processed in order of submission, when complete. This includes all Tennessee-specific requirements that must be met. Tennessee’s Statute allows the Mortgage licensing division 90 ninety) days to act upon a completed NEW company application. (Companies requesting transition will be processed faster.) Average processing time may be different, but calling the department about pending status only delays this process. Your license status, and any additional information the department may need from you, will be communicated through the NMLS. As a mortgage loan originator, your request for a new registration or transition must be accompanied by a Company Sponsorship initiated by your company. After Sponsorship is received, your application or transition will be processed in the order it was received once all Tennessee-specific requirements are also met, including fingerprinting/background checks. We appreciate your understanding and coope
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