VA mortgage loan originator bonds.
0.6% of the bond amount — $150 at the $25,000 minimum.

Virginia licenses individual mortgage loan originators under Chapter 17 of Title 6.2, and Va. Code § 6.2-1703 requires a surety bond with the license application — $25,000, or such greater sum as the Commission may require, stepping up with the residential mortgage loans originated the prior calendar year under 10VAC5-161. Our premium is 0.6% of the bond amount — $150 at the $25,000 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.

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Required for an individual Virginia MLO license under Va. Code § 6.2-1703

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$25,000 minimum penal sum — the scale steps to $150,000 above $100 million of volume

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0.6% of the bond amount — $150 at the $25,000 minimum — exact price at the application, issued the moment you pay

0.6% rate$150 at the $25,000 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Three steps. One sitting.

The originator bond is priced off the penal sum, not a financial review. Here is the whole thing:

NOW · ONLINE

Apply online

Your details, the penal sum from your NMLS record, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

Pricing is 0.6% of the bond amount ($150 at the $25,000 minimum), so the bond issues the moment you pay — your executed bond and power of attorney generate on the spot.

SAME DAY

File through NMLS

Upload the executed bond to your NMLS individual record for the Bureau of Financial Institutions. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

Chapter 17 of Title 6.2 — the Mortgage Loan Originators chapter — licenses the individuals who take residential mortgage loan applications or offer loan terms for compensation. Under § 6.2-1703, the license application must be accompanied by a bond with corporate surety authorized to execute it in the Commonwealth, in the amount of $25,000 or such greater sum as the Commission may require, continuously maintained in full force.

The Commission's rule at 10VAC5-161 adjusts the amount annually on the same volume scale used for mortgage companies: $25,000 through $5 million of originations, $50,000 through $20 million, $75,000 through $50 million, $100,000 through $100 million, and $150,000 above that. If you originate as an employee or exclusive agent of a licensed or exempt company, that company files the bond — or documentation that you are covered by a bond it already filed.

The bond is conditioned on performing your written agreements with borrowers and prospective borrowers, accounting correctly for all funds received in the course of your business activities, and conducting yourself in conformity with the chapter and all applicable laws and regulations. It is not insurance for you — if the surety pays a claim, you repay the surety.

Va. Code § 6.2-1703 · 10VAC5-161Section 6.2-1703 of the Code of Virginia requires a mortgage loan originator license application to be accompanied by a bond filed with the Commission, with corporate surety authorized to execute such bond in the Commonwealth, in the amount of $25,000 or such greater sum as the Commission may require, continuously maintained thereafter in full force. The bond is conditioned upon the licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received in the course of his business activities, and conducting himself in conformity with the chapter and all applicable laws and regulations. Under 10VAC5-161 the amount is adjusted annually on a scale tied to residential mortgage loans originated in the preceding calendar year, and an originator who is an employee or exclusive agent of a licensed or exempt person may be covered by that person's bond.

You need this bond if you're

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Applying for a Virginia MLO license and not covered by an employer’s bond

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Originating as an independent contractor rather than an employee of a licensed company

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Renewing your originator license — the bond must stay continuously in force

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Stepping up after a volume year — the amount adjusts annually under 10VAC5-161

One application, issued instantly.

These are the actual issuing fields — your details, the penal sum, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the Virginia mortgage loan originator bond?The premium is 0.6% of the bond amount. An originator posting the $25,000 floor pays $150; at $50,000 the premium works out to $300. Your exact price appears at the application, before you pay.

Do I need my own bond if I work for a licensed company?Usually not. Under 10VAC5-161, an originator who is an employee or exclusive agent of a licensed or exempt person is covered by the bond that company files. Independent originators file their own.

What penal sum applies to me?$25,000 through $5 million of originations in the preceding calendar year, then $50,000, $75,000, $100,000, and $150,000 as volume rises past $20 million, $50 million, and $100 million. Confirm the figure on your NMLS record.

Is there a credit check?If a credit screen runs on this bond, it is a soft pull only — never a hard inquiry, and it never affects your score. The rate stays 0.6% of the bond amount either way.

Where do I file it?Through NMLS, to the State Corporation Commission’s Bureau of Financial Institutions. Your e-signed bond and power of attorney arrive by email ready to upload.

Same family

Other Virginia mortgage bonds.

Not sure this is the one your license calls for? These are the other mortgage bonds we write in Virginia. Each has its own statute and bond amount.

Related bonds

Other Virginia bonds.

Get your originator bond on file today.

0.6% of the bond amount — $150 at the $25,000 minimum, issued the moment you pay. Soft pull only.

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Your premiumfrom $150

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