SB3780 - Tennessee: Mortgages

Companion Bill HB3778. Mortgages - Requires licensing of mortgage originators and requires mortgage services licensees to complete continuing education. - Amends TCA Title 45, Chapter 13 and Title 45, Chapter 20. Fiscal Summary for *SB3780 / HB3778Increase State Revenue - $1,100,000/One-Time $5,500,000/Recurring Increase State Expenditures - $6,000/One-Time $244,100/Recurring Bill Summary for *SB3780 / HB3778 Present law requires registration of mortgage loan originators. This bill changes present law by requiring mortgage loan originators to be licensed instead of registered. This bill requires each application for renewal of a mortgage lender or loan originator license to include evidence of the completion of at least 12 hours of continuing education, including two hours of instruction [...]

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