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Georgia Consumer Loan Broker Bond

Georgia Consumer Loan Broker Bond

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Who Requires the Consumer Loan Broker Bond and Why Is It Needed?

Tablet. Loan Services or Broker Bond for those who broker loans or provide other loan services.

The Georgia Department of Banking and Finance requires surety bonds for those licensed to engage in businesses defined under the Georgia Residential Mortgage Act (GRMA), Article 13 of Chapter 1 of Title 7 of the Official Code of Georgia Annotated, as amended. 

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Georgia Consumer Loan Broker Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The bond is conditioned of upon the principal obligor's compliance with the provisions of the Georgia Residential Mortgage Act, all regulations duly promulgated thereunder, and all other laws applicable to the conduct of its business. The licensee shall pay any and all monies that may become due and owing to the State of Georgia which shall include, but not be limited to monies owed for fees, fines or penalties under and by virtue of the provisions of the GRMA or the Rules of the Department of Banking and Finance, and shall pay any and all monies that may become due and owing any person due to the violation of any such laws and regulations by the principal through its own acts or the acts of any agent of the principal. All of the proceeds under this bond are to be made available to claimants or to the Department for fees, fines or penalties due. 




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