Louisiana Residential Mortgage Lender Bond
In Louisiana, residential mortgage lenders are required to obtain a surety bond as part of their licensing process through the Office of Financial Institutions (OFI). The bond's purpose is to provide financial protection to consumers in case the lender engages in unethical or unlawful practices.
The bond amount is determined by the OFI and is 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.
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.
The Simple Bonding Process
Request a free quote or view your price
Take the first step by requesting a free quote or viewing the price to discover unbeatable value.
Sign your contract and pay the premium.
Buy right now or easily get a quote for your surety bond.
Receive your surety or fidelity bond.
It's just that easy!
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