Finance Lender Surety Bond
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Finance Lender BondSeveral states require a finance Lender bond. CFLL lender and/or broker licensees who originate residential mortgage loans are required to maintain a surety bond that covers the activities of the MLOs they employ. The bond amount will be based on the amount of origination activities conducted by the licensee. Penal amounts vary by state.
Finance Lender BondDepending upon credit this bond ranges from 1% to 10%
($125 minimum bond fee applies).