Section 6.2-1604 of the Code of Virginia requires a mortgage lender or mortgage broker license application to be accompanied by a bond filed with the Commissioner, with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $25,000 or such greater sum as the Commissioner may require, continuously maintained thereafter in full force. The Commission's rule at 10VAC5-160-15 sets the minimum at $25,000 for a mortgage broker and $50,000 for a mortgage lender or a company with dual lender and broker authority, adjusted annually on a scale tied to residential mortgage loans originated in the preceding calendar year.

What the bond actually guarantees

You need this bond if you're

Your Virginia mortgage broker and lender bond issues the moment you pay. The executed bond arrives by email, ready to file with the Bureau of Financial Institutions.

VA Mortgage Broker & Lender Bond: 0.6% of the bond amount, $300 at the $50,000 minimum. The dual-authority bond filed with the SCC. Issued instantly.

Mortgage Broker and Lender Bond (NMLS)

Virginia - Mortgage Broker and Lender NMLS

Final premium can vary based on underwriting factors

How this works?

If you are a non profit select Corporation

All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.