Alabama Mortgage Loan Originator Bonds

Category: Uncategorized
Published: Feb 25, 2011
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.

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