Residential Mortgage Lender Bond
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Residential Mortgage Lender BondCFLL 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. This bond is required in several states. Penal sums vary by state.
Depending upon credit this bond ranges from 1% to 10% sometimes higher. This bond largly depends on credit. Financing may be available on high rate bonds.
($125 minimum bond fee applies).
Once your bond is placed with us we will notify you between 30-90 days prior to renewal.
Now that you've discovered your bond, the process is very simple. You can apply right online here. Once we receive your info we begin shopping your bond. Once placed we eMail you the results. You decide how you'd like your bond shipped and we'll invoice you.