Delaware Mortgage Lender / Loan Originator Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $50,000 | 1 Year | $300 |
| $75,000 | 1 Year | $450 |
| $100,000 | 1 Year | $600 |
| $125,000 | 1 Year | $750 |
| $150,000 | 1 Year | $900 |
| $175,000 | 1 Year | $1,025 |
| $200,000 | 1 Year | $1,200 |
Mortgage lenders in Delaware are required to post a $25,000 to $200,000 surety bond as a condition of licensure. NNA Surety has secured a $6 premium per $1,000 liability for all Delaware mortgage originators to obtain this bond. This bond meets the licensing requirements for Delaware mortgage originators and lasts for one year.
Cost of the Delaware Mortgage Lender / Loan Originator Bond
The supplied cost of the $25,000, $50,000, $75,000, $100,000, $125,000, $150,000, $175,000 or $200,000 bond is $150, $300, $450, $600, $750, $900, $1,050 or $1,200, respectively, for a one-year term with NNA Surety.
How the Delaware Mortgage Lender / Loan Originator Bond Works
The Delaware mortgage loan originator bond runs to the State for the benefit of the Office of the State Bank Commissioner and consumers injured by covered wrongful acts, omissions, defaults, fraud or misrepresentation by the mortgage loan originator.
The bond involves three parties:
- Principal: Mortgage loan originator or applicable sponsoring licensee
- Obligee: State of Delaware
- Surety: Bonding company
A claim against the bond may arise from covered consumer losses caused by the MLO's activity. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Delaware Mortgage Lender / Loan Originator Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Select the required bond amount based on the applicable Delaware mortgage loan origination volume and pay the corresponding premium.
- Receive the bond documentation.
- File or document the required surety bond coverage as directed by the Delaware Office of the State Bank Commissioner and NMLS.
Learn more about Delaware surety bond options.
Secure Your Delaware Mortgage Lender / Loan Originator Bond
Keep your Delaware mortgage licensing requirements on track by securing the appropriate bond coverage with NNA Surety. Complete this form or call 855-457-2196 to get bonded.