How Much Does a Mortgage Loan Originator or Lender Bond Cost in Massachusetts?
Mortgage Loan Originator Bond
$25,000 Bond
Expires 12/31
Mortgage Broker Bond
$75,000 Bond
Expires 12/31
Collection Agency Bond
Mortgage Lender Bond
Bonds up to $250,000
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What Does a Mortgage Loan Originator or Lender Bond Protect Against?
The surety bond ensures that the principal delivers on all written agreements or commitments with consumers or borrowers, accurately and properly accounts for all funds received from consumers and borrowers as a licensed business, and complies with Massachusetts General Laws chapter 255F, and the statutes, rules, and regulations of the licensed business in Massachusetts.