Tennessee Mortgage Broker, Lender or Servicer Bond The Mortgage Broker, Lender or Servicer Surety Bond is required by the state of Tennessee Department of Financial Institutions. This Bond indicates the principal has applied for a license to do business from the Commissioner of the Department of Financial Institutions. Therefore the principal and all the principals? agents are required to comply with all rules and regulations of that permit and to pay any monies to the Commissioner of the Department of Financial Institutions that may become due. The principal and his agents are also expected to comply with all local and state laws.