New Jersey Residential Mortgage Lender, Broker or Correspondent Bond

The New Jersey Residential Mortgage Lending Act requires that mortgage brokers, lenders and correspondent lenders furnish $150,000 surety bonds as a condition of licensure in the state.

The bond guarantees that the bonded party will comply with the rules, regulations and guidelines established by the state. Typically, mortgage professionals will be required to apply for surety bonds in each state in which they operate and mortgage bond amounts and obligations vary by state. As a leading mortgage bond provider, Surety Bonds Direct is here to help you through this process.