.Laws on private lending in Tennessee

[Joy Garcia]

we were ready to go with a signed purchase agreement, rehab estimates, a lender on board at 65% loan to value at 6% interest rate. We walk into our title company and was told our lender to get a 1st position lienholder position he had to be a licensed mortage broker. Has anyone ever heard of this. I had put 2 years into researching and being mentored by a flipper who doesn't know because he uses his own money no private funds, I have been researching this no luck with that. My 30 day purchase agreement is almost up and my lender will not do an unsecured promissory note. HELP