Who needs this bond
State-licensed mortgage lenders. Bond amount and renewal cadence are set by each state's regulator and filed via NMLS.
Typical amount and term
Bond amount usually 50,000 to 1,000,000 dollars depending on state and loan volume. Premium 1 to 3 percent of bond amount.
What you will need
- NMLS Unique Identifier
- Last 12 months of state-by-state funded loan volume
- Company financials and owner credit
How to apply
- Submit NMLS ID and target state list
- Carrier returns a per-state quote with surge brackets
- ESB signed in NMLS by the surety