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Mortgage Lender Bonds
Mortgage Lender Bonds ensure the banker will obey the terms and conditions of the state in which they operate. The nature of the risk is extremely similar to mortgage broker bonds. Some states require the same exact bond form and bond amount for brokers and lenders alike. The majority of states will require a larger bond for lenders.
Current Market
Due to the recent lending crisis, most bonding companies are very hesitant to add mortgage lenders to their books. Some bonding companies are not writing any new mortgage lender bonds, period. Fortunately, JW Bond Consultants represents a large variety of different sureties, many of which still consider both mortgage lender and mortgage broker bonds. Supply and demand should naturally show increased bond rates for mortgage lenders. Fortunately, for lenders and brokers it takes a while for bonding companies to file new rates. Therefore, excellent rates can still be had if you work with an experience agent that knows the market well.
Special Programs
Due to the quantity of mortgage bankers in search of suretyship, specialty programs are available. Our agency offers programs for clients varying in risk and can bond most in all 50 states, even start ups.
Recent Mortgage Lender Related Articles:
Mortgage Lender/Banker (1st & 2nd Mortgage) Bond State Requirements
| Bond | Required By | Bond Form Version | Application |
|---|---|---|---|
| tt Mortgage Lender Bond | Division of Banking | APPLY NOW | |
| tt Mortgage Lender (Entity) Bond | Dept of Commerce, Division of Real Estate | Title 61, Chapter 2c | APPLY NOW |
| tt Mortgage Lender (Individual) Bond | Dept of Commerce, Division of Real Estate | Title 61, Chapter 2c | APPLY NOW |
| tt Mortgage Lender Bond | Commissioner of Banking | Article 17, Chapter 31 | APPLY NOW |
| tt Mortgage Lender/Originator Bond | Commissioner of Banking | Article 17, Chapter 31 | APPLY NOW |
| Arizona Mortgage Surety Bond Bond | Superintendent, Dept of Financial Institutions | APPLY NOW | |
| Arkansas Mortgage Banker Bond | Securities Dept | FMLA Form 008 | APPLY NOW |
| California BOND OF RESIDENTIAL MORTGAGE LENDER AND/OR SERVICER Bond | Commissioner of Corporations, Dept of Corporations | MBL 50205 (02/01) | APPLY NOW |
| California Finance Lender Bond | Commissioner of Corporations, Dept of Corporations | FC SEC 22112 | APPLY NOW |
| Colorado Supervised Lender Bond | Adminstrator of Uniform Consumer Credit Code | 5-2-302, 5-2-304, 4 CCR 902-1) | APPLY NOW |
| Connecticut Mortgage Lender Bond | Dept of Banking | 36a-485 to 36a-498f | APPLY NOW |
| Delaware Licensed Lender Bond | Office of the State Bank Commissioner | Section 2208(a), Title 5, Updated: 09/30/02 | APPLY NOW |
| District of Columbia Mortgage Lender Surety Bond Bond | Dictrict of Columbia, Dept of Insurance | Surety Bond Form - 08/2010 | APPLY NOW |
| District of Columbia Mortgage Lender Bond | Dept of Ins., Securities & Banking | 8/2010 | APPLY NOW |
| Georgia Mortgage Lender Bond | Dept of Banking and Finance | APPLY NOW | |
| Georgia Residential Mortgage Bond | Dept of Banking & Finance | DBF Bond Form 07/11/08 | APPLY NOW |
| Idaho Mortgage Lender Bond | Idaho Dept of Finance | APPLY NOW | |
| Illinois RESIDENTIAL MORTGAGE LICENSE Bond | Illinois Dept of Financial Regulation | 20K IL 581-0102 (Rev 11-2010) | APPLY NOW |
| Indiana Mortgage Lending Bond | State of Indiana Dept of Financial Institutions | Updated: 6-16-09 | APPLY NOW |
| Indiana First Lien Mortgage Lending Bond | Securities Commissioner | State Form 53690 (7-08) Form FLML B | APPLY NOW |
| Iowa Mortgage Banker Bond | Superintendant of Banking, Iowa Dept of Commerce | Chapter 535B | APPLY NOW |
| Kansas Supervised Lender or Mortgage Company Bond | State Bank Commissioner | 12/2009 | APPLY NOW |
| Kentucky $100K Mortgage Loan Company Bond | Executive Director, Office of Financial Institutions | KRS 294.010 | APPLY NOW |
| Kentucky $250K Mortgage Loan Company Bond | Executive Director, Office of Financial Institutions | KRS 294.010 | APPLY NOW |
| Louisiana RESIDENTIAL MORTGAGE LENDER SURETY Bond | Office of Financial Institutions | $25K | APPLY NOW |
| Louisiana Residential Mortgage Lender Surety Bond | Office of Financial Institutions | $50K | APPLY NOW |
| Maine Supervised Lender Bond | Bureau of Consumer Credit Protection | Title 9-A M.R.S.A. 10-26-2007 | APPLY NOW |
| Maryland Mortgage Lender Bond | Commissioner of Financial Regulation | 3/27/2009 | APPLY NOW |
| Massachusetts Mortgage Lender Bond | Treasurer and Reciever General | CMR 42.03(2)(a)(2) | APPLY NOW |
| Michigan Bond - FIRST Mortgage Broker, Lender, and/or Servicer Bond | Office of Financial and Insurance Services | FIS 1140 (5/10) | APPLY NOW |
| Minnesota Mortgage Lender Bond | Dept of Commerce | MN ST 58.01 to 58.18 | APPLY NOW |
| Mississippi Mortgage Lender Bond | Dept of Banking & Consumer Finance | APPLY NOW | |
| Missouri Mortgage Lender Bond | Commissioner of Finance | APPLY NOW | |
| Montana Mortgage Lender Bond | Division of Banking and Financial Institutions | 32-9-123(2) | APPLY NOW |
| Nebraska Mortgage Banker Bond | Dept of Banking and Finance | $100K, Revised 4/2012 | APPLY NOW |
| Nebraska Mortgage Banker Bond | Dept. of Banking and Finance | $200K, Revised 4/2012 | APPLY NOW |
| New Hampshire Mortgage Banker Bond | Bank Commissioner | NH RSA 397-A 07-06 | APPLY NOW |
| New Jersey Mortgage Lender Bond | Dept of Banking and Insurance | RMLABOND0210 | APPLY NOW |
| New Mexico MORTGAGE LOAN COMPANY CORPORATE SURETY BOND Bond | State Of New Mexico | Revised 8/17/2009 | APPLY NOW |
| New York Mortgage Banker Bond | NY Superintendent of Banks | Article 12-D | APPLY NOW |
| New York REGISTERED MORTGAGE LOAN SERVICERS Bond | Superintendent of Banks of the State of New York | $250K | APPLY NOW |
| North Carolina Mortgage Lender Bond | Commissioner of Banks | $250K, Form: MLA03-A Rev. 7/29/2009 | APPLY NOW |
| North Carolina Mortgage Lender Bond | Commissioner of Banks | $150K, Form: MLA03 Rev. 7/29/2009 | APPLY NOW |
| North Dakota Mortgage Lender Bond | Dept of Financial Instituions, Consumer Division | ND ST 13-04.1 | APPLY NOW |
| Ohio OHIO MORTGAGE BROKER ACT Bond | Superintendent of Financial Institutions | 12/07/09 FINAL | APPLY NOW |
| Oklahoma Supervised Lender License Bond | Dept of Consumer Credit | Revised 1/12/2006 | APPLY NOW |
| Oregon Mortgage Lender Bond | Division of Finance and Corporate Securities | 440-2775 (2/10/COM) | APPLY NOW |
| Pennsylvania Mortgage Lender Bond | Dept of Banking | APPLY NOW | |
| Rhode Island Mortgage Lender Bond | Dept of Business Regulation, Division of Banking | 6-5-09 | APPLY NOW |
| South Carolina Mortgage Lender Special Deposit Bond | South Carolina Dept of Consumer Affairs | Rev 08/10 | APPLY NOW |
| South Carolina Mortgage Lender Bond | State Board of Financial Institutions | APPLY NOW | |
| South Dakota MORTGAGE LENDER Bond | DIVISION OF BANKING | $25k | APPLY NOW |
| South Dakota Mortgage Lender Bond | South Dakota Division of Banking | APPLY NOW | |
| Tennessee Mortgage Lender Bond | STATE OF TENNESSEE Dept OF FINANCIAL INST. | APPLY NOW | |
| Texas Mortgage Lender Bond | Dept of Savings and Mortgage Lending | APPLY NOW | |
| Vermont Mortgage Lender Bond | Commissioner of Banking & Insurance | BISHCA 5/2008 | APPLY NOW |
| Virginia Mortgage Lender Bond | Bureau of Financial Institutions | APPLY NOW | |
| Washington Consumer Loan Business Bond | Dept of Financial Institutions | 7-7-10 | APPLY NOW |
| Wisconsin Mortgage Banker Bond | State of Wisconsin, Dept of Financial Institution | DFI/MB/400 (11/09) | APPLY NOW |
| Wyoming SURETY BOND FOR MORTGAGE LENDERS AND BROKERS Bond | Commissioner of Banking, Dept of Audit | W.S. 40-23-101 to 40-23-123 | APPLY NOW |
Mortgage Lender/Banker (2nd Mortgages Only)
| Bond | Required By | Bond Form Version | Application |
|---|---|---|---|
| Michigan Second Mortgage Broker, Lender, and/or Servicer Bond | Office of Financial and Insurance Regulation | FIS 1140 (5/10) | APPLY NOW |
