Georgia State enacted a new law affecting mortgage originators. The new law, titled HB 312, requires mortgage originators to be both licensed and bonded. The present law demands mortgage brokers to acquire a $50,000 surety bond and requires mortgage lenders to acquire a $150,000 surety bond. HB 312 requires mortgage loan originators to be covered by a surety bond; either by obtaining one, using the surety bond of their employer (only if the originator is the employee or exclusive agent of an individual subject to the surety bond requirements for brokers/lenders). The surety bond must supply coverage for every loan originator in a quantity that mirrors the amount of currency of loans originated. HB 312 was enacted on April 29th, 2009.