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Pennsylvania Mortgage Broker, Lender, Originator or Correspondent Bond

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Pennsylvania Mortgage Broker, Lender, Originator or Correspondent Bond Information

Mortgage Broker, Lender, Orignator and Correspondent Bonds are surety bonds required by the Pennsylvania Department of Banking and Securities as part of the licensing process for mortgage professionals in Pennsylvania.

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.

How Much Does a Mortgage Broker, Lender, Originator or Correspondent Bond Cost in Pennsylvania?

Most Common Bonds

Mortgage Originator Bond - Employee/Individual
Get a Free Quote Takes 2 MinutesPrices require individual quotes. Usually from 0.5% to 3% of the bond amount
Mortgage Broker Bond - Advance Fees

$100,000 Bond

Get a Free Quote Takes 2 MinutesPrices require individual quotes. Usually from 0.5% to 3% of the bond amount
Mortgage Originator Bond - Company/Sponsor

Bonds up to $250,000

Get a Free Quote Takes 2 MinutesPrices require individual quotes. Usually from 0.5% to 3% of the bond amount

Additional Bonds

Mortgage Lender License Bond

Bonds up to $250,000

Get a Free Quote Takes 2 Minutes
Mortgage Loan Correspondent Bond

Bonds up to $250,000

Get a Free Quote Takes 2 Minutes

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What Does a Mortgage Broker, Lender, Originator or Correspondent Bond Protect Against?

The bonds generally require that the bonded principal shall:

  1. compy with the provisions of the Mortgage Licensing Act; and

  2. compy with all the rules and regulations of the Department issued in accordance with the Mortgage Licensing Act; and

  3. pay any moneys due to the Commonwealth, the Department, or any person or persons who is injured by the acts or omissions related to the mortgage loan business under the provisions of this Act,

Other Helpful Information and Links

Pennsylvania Department of Banking and Securities Mortgage Licensees

MORTGAGE BROKER BOND – ADVANCE FEES

SPONSOR OF MORTGAGE ORIGINATORS BOND FORM

Individual Originator Bond Form