Kentucky Mortgage Loan Company Bond
Any entity/sole proprietor that directly or indirectly holds himself out as being able to make or purchase loans secured by mortgages on residential real property, being able to service loans secured by mortgages on residential real property or being able to buy or sell notes secured by mortgages on residential real property. Bond amount is based on the previous year's aggregate funded volume according to the following table:
| Bond Amount Required | Annual Premium |
| $250,000 | $1,500 |
Overview
Mortgage loan companies in Kentucky are required to maintain a $250,000 surety bond as a condition of licensure. The NNA has secured a $1,500 flat rate for all Kentucky mortgage companies to obtain this bond without a credit check or financials. This bond meets the licensing requirements for Kentucky mortgage loan companies and lasts for one year.