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Pennsylvania Mortgage Broker, Lender, Originator or Correspondent Bond

Pennsylvania Mortgage Broker, Lender, Originator or Correspondent Bond

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Who Requires the Mortgage Broker, Lender, Originator or Correspondent Bond and Why Is It Needed?

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 Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Pennsylvania Mortgage Broker, Lender, Originator or Correspondent Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the 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,




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