Montana Mortgage Servicer Bond
This bond is required for any entity, including sole proprietors, engaged in residential mortgage loan servicing or meeting the federal definition of a servicer (12 U.S.C. 2605(i)(2)). Refer to the table below to determine the required bond amount.
| Annual Loan Production | Bond Amount | Annual Premium |
| No prior business in MT or less than 1 year in MT; less than $25,000,000 |
$75,000 |
$450 |
| Less than $100,000,000 | $150,000 | $900 |
| Less than $500,000,000 | $250,000 | $1,500 |
| More than $500,000,000 | $350,000 | $2,100 |
Overview
Montana mandates that mortgage servicers post a surety bond as part of their licensing process through the Montana Division of Banking and Financial Institutions. The bond serves as a financial safeguard for consumers who engage with the servicer's services.
The bond amount is determined based on factors like the lender's loan volume and financial stability, with minimum amounts typically ranging from $75,000 to $350,000. Mortgage servicers need to maintain an active and valid bond throughout their licensing tenure.
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.