How Much Does a Mortgage Bond Cost in Maine?
Mortgage Loan Originator Bond
$25,000 Bond
Multi-Year Options May be Available
Mortgage Broker Bond
Loan Broker Bond
$25,000 Bond
Multi-Year Options May be Available
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What Does a Mortgage Bond Protect Against?
The purpose of Mortgage Loan Originator and Loan Broker Bonds is to cover all claims collected, property converted and losses caused by the licensee during the term of the license covered by the bond. The aggregate liability of the surety for any and all claims which arise under the bond shall in no event exceed the bond penalty.