Terms Used In Tennessee Code 45-13-205

• Commissioner: means the commissioner of financial institutions or the commissioner's designated representative. See Tennessee Code 45-13-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage lender: means any person who makes a residential mortgage loan or holds the person out as able to make a residential mortgage loan. See Tennessee Code 45-13-105
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage loan broker: means 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 a residential mortgage loan for another person or offers to solicit, place, negotiate or originate a residential mortgage loan for another person or who closes a residential mortgage loan that may be in the mortgage loan broker's own name with funds provided by another person and which loan is thereafter assigned to the person providing the funding of the loan, regardless of whether the acts are done directly or indirectly, through contact by telephone, by electronic means, by mail or in person with the borrower or borrowers or potential borrower or borrowers. See Tennessee Code 45-13-105
• Mortgage loan servicer: means any person who, in the regular course of business, assumes responsibility for servicing and accepting payments for a residential mortgage loan. See Tennessee Code 45-13-105