Title Pledge Lenders

Tennessee Code Annotated § 45-15-105(a) provides that, no person shall engage in the business of title pledge lending without having first obtained a license. A separate license shall be required for each location from which the business is conducted.

Tennessee Code Annotated § 45-15-103(11) “Title pledge lender” means any person engaged in the business of making title pledge agreements or property pledge agreements with pledgors.

Tennessee Code Annotated § 45-15-103(10) “Title pledge agreement” means a thirty-day written agreement whereby a title pledge lender agrees to make a loan of money to a pledgor, and the pledgor agrees to give the title pledge lender a security interest in unencumbered titled personal property owned by the pledgor. The pledgor shall agree to the title pledge lender's keeping possession of the certificate of title. The pledgor shall have the exclusive right to redeem the certificate of title by repaying the loan of money in full and by complying with the title pledge agreement. When the certificate of title is redeemed, the title pledge lender shall release the security interest in the titled personal property and return the personal property certificate of title to the pledgor. The title pledge agreement shall provide that, upon failure by the pledgor to redeem the certificate of title at the end of the original thirty-day agreement period, or at the end of any thirty-day renewal or renewals of the agreement period, the title pledge lender shall be allowed to take possession of the titled personal property. The title pledge lender shall retain physical possession of the certificate of title for the entire length of the title pledge agreement but shall not be required to retain physical possession of the titled personal property at any time. A title pledge lender may only hold unencumbered certificates of title for pledge.

APPLICATION and REQUIREMENTS:

All Title Pledge Lender license applications, amendments, and renewal filings must be made through the Nationwide Mortgage Licensing System & Registry (NMLS). Click HERE to access NMLS. 

  • Click HERE to access the TN Title Pledge Lender License Requirements Checklist in NMLS.

ANNUAL REPORT
The annual report is due December 31, 2025.
Annual Report Form for CY 2024

Licensing Contact Information

Email: TDFI.licensing@tn.gov
Phone: (615) 253-6714
Fax: (615) 253-7794