In most cases, being a mortgage loan originator requires you are covered by a surety bond.
But this does not mean you have to purchase the surety bond yourself.
If you're confused about what is a mortgage surety bond, in the last section, I'll answer this for you.
For the sake of surety bonds, mortgage loan originators help customers find the best mortgage for their goals and finances.
And in most cases as a mortgage loan originator, you are an employee or a bank or mortgage loan broker.
As an employee, again in most cases, the broker will have one surety bond to cover all the MLOs employees.
FDIC backed financial institutions typically are never required to purchase a surety bond.
This means as an individual mortgage loan originator, you do not have to purchase a surety bond.
Examples of state bonds that do this include:
State bonds where the MLO may have to purchase their own bond include:
In most cases you only need to purchase a bond as an individual if you work for yourself, independently.
You can get pricing for your mortgage surety bond you need. Click the button below. You need to know the amount of your bond.
Talk to a bond specialist today. They will help you find the surety bond you need and get you the lowest possible price. 1-800-608-9950
A surety bond is a special insurance contract that acts as a financially backed guarantee that you will do what you way you're going to do.
In the case of being a mortgage professional, you promise you will:
If you purposefully commit any type of mortgage fraud that causes your customer financial hard, they can make a claim against he surety bond for financial compensation.
Watch this video for a full breakdown of this agreement and promise you're making.
If you're looking to get a mortgage license surety bond for your business, let us do the price shopping for you.
Click here and tell us about the bond you need.
If you have any questions, call a bond specialist today (1-800-608-9950) and we'll make sure you get this process done fast and with no mistakes.
You can get pricing for your mortgage surety bond you need. Click the button below. You need to know the amount of your bond.
Talk to a bond specialist today. They will help you find the surety bond you need and get you the lowest possible price. 1-800-608-9950
Colorado Mortgage Broker Bonds
Learn about the Colorado mortgage broker bonds including the originator bond, and company mortgage bonds. Plus learn how to save money when you buy.
California Mortgage Broker Bond And Mortgage Lender Bond
California requires mortgage professionals to purchase a mortgage broker bond and lender surety bond. Learn about this bond and how to buy it for less.
Arizona Mortgage Broker Bond And Mortgage Banker Bond
Learn about the Arizona mortgage broker bond and banker bond. All mortgage company licenses require this bond. Learn about it and save money buying it.
Georgia Mortgage Broker Bond And Mortgage Lender Bond
Georgia required mortgage brokers and lenders to purchase a mortgage broker bond. Learn about this bond, why you need it, and how to save money buying it.
Michigan Mortgage Broker Bond, Lender Bond, and Servicer Bond
Learn about the Michigan mortgage broker bond requirements. Learn about the different requirements and how to purchase your and save money.
Pennsylvania Mortgage Surety Bonds
Learn about the Pennsylvania mortgage surety bonds. There are a lot of them. Learn what they are and how you save money purchasing yours.
Can't find what you're looking for? Let us help!
Get Started » or, if you'd prefer, call us at
(No obligation, takes 2 minutes)