Mississippi Mortgage Lender Bond
| Bond Amount Required | Bond Term | Annual Premium |
| $250,000 | 1 Year | $1,500 |
This bond is required by any person (individual, sole proprietorship, corporation, limited liability company, partnership, trust, or any other group of individuals, however organized) who directly or indirectly or by electronic activity originates, makes, funds or purchases or offers to originate, make, or fund or purchase a residential mortgage loan or who services mortgage loans.
| Bond Amount | Annual Premium |
| $250,000 | $1,500 |
Overview
Mississippi requires mortgage lenders to post a surety bond of $150,000 to obtain and maintain their license through the Department of Banking and Consumer Finance. Mortgage lenders must keep their bonds active and in compliance with state regulations 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.