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Mortgage Lender Bonds

Complete Guide to Bonding for Mortgage Lenders

  • 99% of Mortgage Lenders Approved!
  • 100% Secure Online Application
  • Lowest Rates for Mortgage Bankers!
  • Exclusive Bad Credit Programs

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How Do I Get My Bond?

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What is a Mortgage Lender Bond?

Mortgage Lenders and Bankers are defined as any person or company who is compensated to originate, sell or services mortgages. Specifically, mortgage lenders loan money to the borrower at the closing table. In addition to being licensed, mortgage bankers must also get a surety bond in order to guarantee compliance with state regulations governing this line of business. Mortgage Lender Bonds protect consumers that are working with lenders to obtain a mortgage for their home. Lance Surety has a variety of bond programs created to get all types of Mortgage Lenders approved at excellent rates.

Also known as Mortgage Banker, Finance Lender, Licensed Lender, and Mortgage Loan Company Bonds.

Questions about Mortgage Lender Bonds

How do I become a Mortgage Banker?

While Mortgage Banker licensing requirements may vary slightly from state to state, the general criteria to become a licensed mortgage lender is similar throughout the nation. In most cases, prelicensing requirements consist of completing an approved mortgage lender course that covers issues such as state laws and ethical responsibility. Once completed, mortgage lenders will need to submit the state’s license application, along with any licensing fee. A surety bond is also required, which will be filed with along with the license.

How much does a Mortgage Lender Bond cost?

These bonds are paid for on annual basis. In most cases, bond costs are determined based solely on owner credit. Mortgage Bankers with excellent personal credit may be eligible for standard market rates, which range from 1% to 3% of the total bond amount. If the owner has poor credit, annual premium typically ranges between 5% to 10% of the bond amount. In most states, we can approve higher risk applicants at no higher than 7.5%.

If I’m a Mortgage Banker with bad credit, can I become bonded?

Yes. While many surety companies only offer quotes to customers with excellent credit, Lance Surety has a number of exclusive Mortgage Broker Bond programs that allow us to approve just about anyone. One of the only exceptions would be if you have an open bankruptcy or past due child support.

What you pay per year will depend on your personal credit, but regardless of your score Lance Surety is able to offer very aggressive rates to mortgage lenders.

If I have bad credit, how can I lower my rate?

While our agency offers instant quotes based on owner personal credit, it is possible to lower the cost of your Mortgage Broker Bond by providing additional information. For example, if you have strong liquid assets and can provide cash verification, that could be used to strengthen your application. Strong business and personal financial statements can also be considered in determining your rate.

Do I need a physical location in a state to become licensed and bonded?

This depends on what state you are looking to become licensed in, but in most cases you do not need a physical office. In the past, this was a standard state requirement, but as more business is being conducted over the internet, many states’ mortgage licensing laws are becoming more lenient. As each state’s laws differ, you’ll want to check specific state requirements to make sure you meet their criteria.

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Find Your Surety Bond

  • Arizona
    Mortgage Banker Bond
    Superintendent, Dept of Financial Institutions
  • Arkansas
    Mortgage Banker
    Securities Dept
  • California
    Finance Lender
    Commissioner of Corporations, Dept of Corporations
  • California
    Residential Mortgage Lender and-or Servicer Bond
    Commissioner of Corporations, Dept of Corporations
  • Colorado
    Supervised Lender
    Adminstrator of Uniform Consumer Credit Code
  • Connecticut
    Mortgage Licensee Bond
    Dept of Banking
  • Delaware
    Licensed Lender
    Office of the State Bank Commissioner
  • District of Columbia
    Mortgage Lender
    Dept of Ins., Securities & Banking
  • District of Columbia
    Mortgage Lender Surety Bond
    Dictrict of Columbia, Dept of Insurance
  • Georgia
    Mortgage Lender
    Dept of Banking and Finance
  • Georgia
    Residential Mortgage
    Dept of Banking & Finance
  • Idaho
    Mortgage Lender
    Idaho Dept of Finance
  • Illinois
    RESIDENTIAL MORTGAGE LICENSE
    Illinois Dept of Financial Regulation
  • Indiana
    First Lien Mortgage Lending
    Securities Commissioner
  • Indiana
    Mortgage Lending
    State of Indiana Dept of Financial Institutions
  • Iowa
    Mortgage Banker
    Superintendant of Banking, Iowa Dept of Commerce
  • Kansas
    Supervised Lender or Mortgage Company
    State Bank Commissioner
  • Kentucky
    $250K Mortgage Loan Company
    Executive Director, Office of Financial Institutio
  • Kentucky
    $100K Mortgage Loan Company
    Executive Director, Office of Financial Institutio
  • Louisiana
    Residential Mortgage Lender Surety
    Office of Financial Institutions
  • Louisiana
    RESIDENTIAL MORTGAGE LENDER SURETY
    Office of Financial Institutions
  • Maine
    Supervised Lender
    Bureau of Consumer Credit Protection
  • Maryland
    Mortgage Lender
    Commissioner of Financial Regulation
  • Massachusetts
    Mortgage Lender
    Treasurer and Reciever General
  • Michigan
    Bond - FIRST Mortgage Broker, Lender, and/or Servi
    Office of Financial and Insurance Services
  • Minnesota
    Mortgage Lender
    Dept of Commerce
  • Mississippi
    Mortgage Lender
    Dept of Banking & Consumer Finance
  • Missouri
    Mortgage Lender
    Commissioner of Finance
  • Montana
    Mortgage Lender
    Division of Banking and Financial Institutions
  • Montana
    Mortgage Lender License Bond
    Division of Banking and Financial Institutions
  • Nebraska
    Mortgage Banker
    Dept of Banking and Finance
  • Nebraska
    Mortgage Banker
    Dept. of Banking and Finance
  • Nevada
    Covered Service Provider Bond
    State of Nevada
  • Nevada
    Mortgage Banker Bond
    Division of Mortgage Lending
  • New Hampshire
    Mortgage Banker
    Bank Commissioner
  • New Jersey
    Mortgage Lender
    Dept of Banking and Insurance
  • New Mexico
    MORTGAGE LOAN COMPANY CORPORATE SURETY BOND
    State Of New Mexico
  • New York
    Licensed Mortgage Banker Bond
    NY Superintendent of Banks
  • New York
    REGISTERED MORTGAGE LOAN SERVICERS
    Superintendent of Banks of the State of New York
  • North Carolina
    Mortgage Lender
    Commissioner of Banks
  • North Carolina
    Mortgage Lender
    Commissioner of Banks
  • North Dakota
    Mortgage Lender
    Dept of Financial Instituions, Consumer Division
  • Ohio
    OHIO MORTGAGE BROKER ACT
    Superintendent of Financial Institutions
  • Oklahoma
    Supervised Lender License
    Dept of Consumer Credit
  • Oklahoma
    Mortgage Lender Bond
    Administrator of the Department of Consumer Credit
  • Oregon
    Mortgage Lender
    Division of Finance and Corporate Securities
  • Pennsylvania
    Mortgage Lender
    Dept of Banking
  • Rhode Island
    Mortgage Lender
    Dept of Business Regulation, Division of Banking
  • South Carolina
    Mortgage Lender
    State Board of Financial Institutions
  • South Carolina
    Mortgage Lender Special Deposit
    South Carolina Dept of Consumer Affairs
  • South Dakota
    Mortgage Lender
    Division of Banking
  • South Dakota
    MORTGAGE LENDER
    DIVISION OF BANKING
  • South Dakota
    Money Lender Bond
    Division of Banking
  • Tennessee
    Mortgage Lender
    STATE OF TENNESSEE Dept OF FINANCIAL INST.
  • Texas
    Mortgage Lender
    Dept of Savings and Mortgage Lending
  • Utah
    Mortgage Lender (Entity)
    Dept of Commerce, Division of Real Estate
  • Utah
    Mortgage Lender (Individual)
    Dept of Commerce, Division of Real Estate
  • Vermont
    Mortgage Lender
    Commissioner of Banking & Insurance
  • Vermont
    Loan Servicer
    Commissioner of Banking & Insurance
  • Virginia
    Mortgage Lender
    Bureau of Financial Institutions
  • Washington
    Consumer Loan Business
    Dept of Financial Institutions
  • Washington
    Residential Loan Servicing Business Bond
    Dept of Financial Institutions
  • West Virginia
    Mortgage Lender
    Commissioner of Banking
  • West Virginia
    Mortgage Lender/Originator
    Commissioner of Banking
  • Wisconsin
    Mortgage Banker
    State of Wisconsin, Dept of Financial Institution
  • Wyoming
    SURETY BOND FOR MORTGAGE LENDERS AND BROKERS
    Commissioner of Banking, Dept of Audit

Still Have Questions? Check Our FAQ Pages

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!