Colorado Mortgage Broker Bond | Mortgage Loan Originator Bond

Complete Guide to Bonding for Mortgage Brokers and Loan Originators in Colorado
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How Much Does a Colorado Mortgage Broker Bond Cost?

The cost of a Colorado mortgage broker bond is at least $250, depending on the size of the bond. In Colorado, mortgage brokers (aka mortgage loan originators) must carry a $25,000 bond. However, mortgage agencies with multiple employees can carry a single bond for a higher amount.

If you have fewer than 20 employees, the group bond is $100,000. The amount goes to $200,000 if you have more than 20 employees. Your credit score and other factors can impact how much you pay for the bond premium. Typically, the premium is calculated at about one to three percent of the bond total.

Here’s a breakdown of costs for Colorado's three different bond requirements and how they vary based on your credit score.

Surety Bond Cost Based on Credit Score

Surety Bond Name

Surety Bond Amount

Over 700

Between 600 - 699

Below 599

Colorado Mortgage Loan Originator Bond

$25,000

$250 - $750

$750 - $1,250

$1,250 - $2,500

Mortgage Broker Group Bond (Fewer Than 20 Licensees)

$100,000

$1,000 - $3,000

$3,000 - $5,000

$5,000 - $10,000

Group Bond (20 or more licensees)

$200,000

$2,000 - $6,000

$6,000 - $10,000

$10,000 - $20,000

How to Get a Colorado Mortgage Broker Bond

If you’re an individual mortgage broker, you can apply for a single bond for yourself. However, if you’re in charge of an agency, you can determine whether the group bond is a better option. For example, if you only have three employees, it’s better to have individual bonds. But if your agency has five or more employees, a group bond can help you save money.

No matter what, Lance Surety Bonds can help you get bonded quickly and conveniently. We recently helped a mortgage broker in Colorado Springs get bonded so she could start helping her clients move into the homes of their dreams.

Step 1: Apply for Your Bond

Using our application form, you can fill out some basic information about your business, yourself, and the type of bond you want. This process only takes a few minutes, especially if you have all your details handy.

Step 2: Get a Quote

Typically, bond premium quotes take a matter of minutes to process, and we promise to offer the best rate possible. However, in some cases, your application might take up to 24 hours to process, depending on the situation.

Step 3: Purchase Your Bond

Once you pay your bond premium, you’re fully bonded in Colorado. Usually, mortgage broker bonds are valid for 12 months, but there may be situations where the bond expires sooner. You must have an active bond to be a licensed mortgage broker.

Mortgage Broker Bond Requirements in Colorado

All mortgage brokers and mortgage loan originators must be licensed and bonded to do business in Colorado. According to the Division of Real Estate, all mortgage broker licenses expire on December 31st of each year, regardless of when they were issued.

So, it’s best to renew your license and your bond at the same time. The renewal period runs from November 1st to December 31st of each year, and there is no grace period. If you miss the deadline, you must file for reinstatement before February 1st of the following year.

You must show that your bond is active when renewing, so we recommend doing this first before submitting your paperwork. A sample surety bond form tells you the information you must provide.

Although the renewal period is the same every year, we’ll notify you as the deadline approaches so you never forget. 


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About Us

Lance Surety Bonds
Lance Surety Bond Associates, Inc. is a Pennsylvania-based surety bond agency that offers bonding at competitive rates in all 50 states. Established in 2010, our company has grown to become one of the top online bond producers in the country. Working exclusively with A-rated and T-listed bonding companies gives us the confidence to offer a 100% money-back guarantee. read more

What Our Clients Have To Say?

Kimberlee Ables

Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!

Andrew Poincot

Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!

Margie Martinez

We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

Kimberlee Ables

Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!

Andrew Poincot

Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!

Margie Martinez

We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!

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