Alabama Mortgage Loan Originator Bonds
Effective June 1, 2009, Alabama Mortgage Loan Originators are required to be licensed and to obtain a surety bond. They may be covered under their employers’ bond who is subject to the Alabama Consumer Credit Act or the Mortgage Brokers Licensing Act. The surety bond must include an amount for the loan originator equal to the amount of loans originated.
The following two tabs change content below.
Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
Latest posts by Victor J. Lance, President/Owner (see all)
- How to Get a Texas Dealer License - March 30, 2021
- How to Get a California Money Transmitter License [2021 Guide] - March 26, 2021
- 🚚 How to Become a Freight Broker in 2021: Your Ultimate Guide - March 26, 2021