Loan Services Bonds
What is a Loan Services or Broker Bond?
Loan brokers or those providing loan services must post surety bonds in order to legally conduct business. The surety bond ensures lawful business practices and compliance with jurisdictional rules and regulations.
Are Loan Services or Broker Bonds Called Anything Else?
Yes, Loan Services or Broker Bonds sometimes go by different names in different places. Here are some other names you may see used:
- California - Student Loan Servicer Bond
- Delaware - Licensed Lender Bond
- Georgia - Consumer Loan Broker Bond
- Illinois - Loan Broker's Bond
- Indiana - Loan Lender or Broker Bond
- Iowa - Loan Company Bond
- Maine - Loan Broker Bond
- Maryland - Installment Loan Licensee Bond
- Mississippi - Consumer Loan Broker Bond
- Nevada - Private Education Lenders and Student Loan Servicers Bond
- North Carolina - Loan Broker Bond
- South Dakota - Money Lender or Loan Services Bond
- Tennessee - Title Pledge Lender Bond
- Washington - Consumer Loan Business or Residential Loan Servicing Business Bond
- Wisconsin - Loan Company Bond