Massachusetts Mortgage Lender Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $100,000 | 1 Year | $600 |
| $250,000 | 1 Year | $1,500 |
| $500,000 | 1 Year | $3,000 |
Mortgage lenders in Massachusetts are required to post a surety bond ranging from $100,000 to $500,000 as a condition of licensure based on the volume of closed residential loans.
| MA Loan Volume in Preceding 12 Months | Bond Amount Required | Annual Premium |
| $0- $49,999,999 | $100,000 | $600 |
| $50,000,000- $249,999,999 | $250,000 | $1,500 |
| Exceeds $250,000,000 | $500,000 | $3,000 |
Mortgage lenders conducting residential mortgage lending business in Massachusetts must meet state licensing and bonding requirements. Required by the Commonwealth of Massachusetts, the Massachusetts mortgage lender bond helps ensure compliance with state mortgage lending requirements and provides financial protection for consumers.
The NNA has secured a flat rate of $6 per $1,000 liability premium for all Massachusetts mortgage lenders to obtain this bond without a credit check. This bond meets the licensing requirements for Massachusetts mortgage lenders and lasts for one year.
Cost of the Massachusetts Mortgage Lender Bond
The cost of the $100,000 to $500,000 Massachusetts mortgage lender bond is $600 to $3,000 per bond term with NNA Surety. Secure this surety bond today.
How the Massachusetts Mortgage Lender Bond Works
The Massachusetts mortgage lender bond protects consumers by holding licensed mortgage lenders financially accountable for complying with applicable state mortgage lending requirements.
The bond involves three parties:
- Principal: Mortgage lender
- Obligee: Commonwealth of Massachusetts
- Surety: Bonding company
A claim against the bond may be filed for covered violations of Massachusetts mortgage lending requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Massachusetts Mortgage Lender Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable $600, $1,500 or $3,000 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Massachusetts mortgage lender license.
Learn more about your Massachusetts surety bond options across the state.
Get Your Massachusetts Mortgage Lender Bond
Keep your Massachusetts licensing requirements on track by securing your mortgage lender bond today. Complete this form or call 855-457-2196 to get bonded.