Mortgage Lender Bond Guide

Why do you need a mortgage lender bond?

You are required to obtain a bond to protect your clients. If you do not follow state regulations, a claim can be filed on your bond. For example, if you charge a client undisclosed additional fees on their mortgage loan, a claim can be made.

Top 5 Things You Need To Know

Frequent Questions

Submit an application online, receive an instant quote, sign the indemnity agreement, pay online, and then we will ship the bond out to you.

No. Similar to mortgage broker bonds, you will need a separate bond for every state you operate in that requires the bond. Some states may require multiple bonds of your company and or employees.

You most likely do. Many states require bankers and supervised lenders to obtain a bond before they get their license. However, not all states have the same requirements. Please view our state requirement list or contact the states in which you wish to operate.

No. The premium fee is for the risk the surety undertakes when financially backing your bond. Should you cancel your bond, first year bond premiums are "fully earned". However, after the first year, a bond cancellation can result in a pro-rated returned premium depending on the bond cancellation language.

It depends on the state. Some states require separate bonds of the company and individual originators within the company. Others only require a bond of the company, not the individuals.

View our state requirement list to see the bond requirements of the states you operate in. If they are not listed, contact the state to determine if there are any new requirements, as they may have changed.

Yes. We are licensed in all 50 states and offer higher surety credit limits than most other bond agencies. This typically means you can get bonds in every state .

Surety Bonds do not protect you

The bond is a form of insurance for your clients, which is why many businesses proudly list that they are bonded on their marketing material. However, you will be required to reimburse the bonding company should a claim be paid out.

Why you must avoid claims at all costs

Fidelity Bonds protect your business

You can protect your business from employee theft and fraud by purchasing a fidelity bond. You can read more in our fidelity bond section.

    Step 1: Select a state

    Step 2: Choose Your Bond

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Bond costs vary by applicant, bond amount, bond type & the agency you choose. You can get a general idea of costs using our Quick Estimate tool to the right or an exact quote instantly online!

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When it comes to surety bond insurance, there is safety in numbers. As the largest volume writer in the country, we are able to obtain the lowest rates from the strongest bonding company partners.

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