What is a Minnesota Mortgage Originator or Servicer Bond?
A Mortgage Originator, Mortgage Servicer or Accelerated Mortgage Payment Provider Bond is mandated by Minnesota Statutes, Section 332.30, to secure the bonded principal's compliance with terms of Minnesota Statutes and other legal obligations arising out of the principal’s conduct as a mortgage originator, servicer, or accelerated payment provider. This bond is written for the benefit of the State of Minnesota and harmed financially due to the principal's failure to comply with Minnesota Statutes or other legal obligations.
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Residential Mortgage Originator Bond
Bonds $100,000 or more up to $200,000
Residential Mortgage Servicer Bond
Bonds $100,000 or more up to $200,000
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