Louisiana Residential Mortgage Lender Bond
Flat Rates & No Credit Check
| Bond Amount | Bond Term | Annual Premium |
| $25,000 | 1 Year | $150 |
| $50,000 | 1 Year | $300 |
A “Residential Mortgage Lending License” is required of any person who engages in residential mortgage activity as a “mortgage lender” or “mortgage broker” that is not otherwise exempt. The Office of Financial Institutions (OFI) determines the bond amount based on factors such as the lender's loan volume and financial stability. The bond amount ranges from $25,000 to $50,000. Lenders must also ensure that the bond remains active and in effect throughout their licensing period. Bond amount is based on the previous year's aggregate funded volume according to the following table:
| Aggregate Amount of Loan Volume in Preceding Year | Bond Amount Required | Annual Premium |
| $0-$99,999,999 | $25,000 | $150 |
| Exceeds $100,000,000 | $50,000 | $300 |
No credit check or financials needed up to $1M in aggregate bonds. Your bond premium (your cost) is $6 per $1,000 of the bond amount.
Residential mortgage lenders operating in Louisiana must meet state licensing and bonding requirements. Required by the State of Louisiana, the Louisiana residential mortgage lender bond helps ensure compliance with state residential mortgage lending requirements and provides financial protection for covered violations.
Cost of the Louisiana Residential Mortgage Lender Bond
The cost of the $25,000 or $50,000 Louisiana residential mortgage lender bond is $150 or $300 per bond term with NNA Surety. Select the appropriate bond amount above for your $25,000 bond or $50,000 bond today.
How the Louisiana Residential Mortgage Lender Bond Works
The Louisiana residential mortgage lender bond protects consumers by holding licensed mortgage lenders financially accountable for complying with applicable state residential mortgage lending requirements.
The bond involves three parties:
- Principal: Residential mortgage lender
- Obligee: State of Louisiana
- Surety: Bonding company
A claim against the bond may be filed for covered violations of Louisiana residential mortgage lending requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Louisiana Residential Mortgage Lender Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete the short online application for your $25,000 bond or $50,000 bond.
- Pay the applicable $150 or $300 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Louisiana residential mortgage lender license.
Learn more about your Louisiana surety bond options across the state.
Get Your Louisiana Residential Mortgage Lender Bond
Stay compliant with Louisiana licensing requirements by securing your residential mortgage lender bond today. Complete the application for your $25,000 bond or $50,000 bond, or call 855-457-2196 to get bonded.