Skip Navigation

West Virginia Mortgage Lender or Loan Originator Bond

West Virginia Mortgage Lender or Loan Originator Bond

www.suretybondsdirect.com/surety-bond/mortgage-broker-lender-or-other-industry-bond/wv

Get Your Free Quote

Who Requires the Mortgage Lender or Loan Originator Bond and Why Is It Needed?

A Mortgage Lender or Loan Originator Bond is a type os surety bond required for those who have obtained, or is about to obtain, from the Commissioner of Financial Institutions of the State of West Virginia, a license to conduct a Mortgage Lender business as set forth in the provisions of Article 17, Chapter 31, of the Code of West Virginia. The surety bond coverage amount required is outlined by business type below;

  • $100,000 if principal has annual mortgage loan originations of up to $3 million
  • $150,000 if principal has annual mortgage loan originations greater than $3 million up to $10 million
  • $250,000 if principal has annual mortgage loan originations greater than $10 million
  • $200,000 if principal acts as a servicer of mortgage loans and has annual mortgage loan originations less than $10 million
  • $250,000 if principal services mortgage loans and has annual mortgage loan originations greater than $10 million

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your West Virginia Mortgage Lender or Loan Originator 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 Mortgage Lender or Loan Originator Bond ensures that the bonded party complies with the provisions of the Act and of all rules and orders made or issued by the Commissioner of Financial Institutions. The surety bond also secures payment to the State of West Virginia or any individual all moneys that may become due in an action brought by the Commissioner on behalf those aggrieved by the misconduct of the principal.




List of West Virginia surety bonds.

Save Time Save Money

1 Form. 2 Minutes. Great Rates.

Surety Bonds Direct, LLC, Bonds Surety & Fidelity, Charleston, SC
SSL site seal - click to verify