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Minnesota Residential Mortgage Originator Bond

In Minnesota, residential mortgage originators are mandated to secure a surety bond as part of their licensing prerequisites through the Department of Commerce. The bond serves as a safeguard for consumers, offering financial recourse in case the originator conducts business in violation of legal and ethical standards.

The bond amount is determined based on the originator's annual loan volume, with minimum requirements ranging from $100,000 to $200,000. This bond must be obtained from a state-approved surety company. It's essential for originators to keep their bonds active and valid throughout their licensing tenure. Licenses expire on December 31 of each year and are renewable on January 1 of each year after that date.

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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