Other names for this surety bond: mortgage lender license bond, mortgage loan originator bond
The purpose of a mortgage broker bond is to provide security for a broker/lender’s license. South Coast Surety has a special in-house program for finance lenders and mortgage broker license bonds with rates starting at 0.75%.
Fill out the quick, secure application below to start the bond quote process. Our expert team will find the best rate for you and email you a free bond quote. We can get you approved, quoted and bonded quickly so you can save time and money! If you have questions, call us at 800-361-1720 or email apps@www.southcoastsurety.com.
Mortgage lender bonds are required by the various states where the mortgage broker/lender is operating. The license is to assure that the broker/lender will abide by the laws & regulations of that state and protect consumers. Every state has their own regulations in regards to this industry; therefore each state has its own bond form.
Loan originators and mortgage brokers may need this license bond in order to operate under their state license.
Bond approval is based on credit and the premium is a percent of the bond amount. With good credit the premium is 1-3%. Non-standard credit can start at 9.5% or higher
To get a free mortgage broker bond quote, complete our online application and submit. You can also download & complete the PDF application and email to apps@www.southcoastsurety.com or fax to 949.361.9926. A quote should be emailed to you within 1-2 business days.