Nevada Mortgage Company Bond
Nevada Mortgage Company License Surety Bond
| Annual Loan Production |
Bond Amount Required | Product Term | Annual Premium |
| $20,000,000 or less | $50,000 | 1 Year | $300 |
| More than $20,000,000 | $75,000 | 1 Year | $450 |
Cost of the Nevada Mortgage Company Bond
NNA Surety currently lists the $50,000 Nevada Mortgage Company Bond at a $300 annual premium and the $75,000 bond at a $450 annual premium, confirming the supplied pricing.
Apply online for the Nevada Mortgage Company Bond.
View NNA Surety's Nevada Mortgage Company Bond information.
How the Nevada Mortgage Company Bond Works
NRS 645B.042 requires the bond to be payable to the State of Nevada and executed by a corporate surety satisfactory to the Commissioner. The mortgage company and all mortgage loan originators employed by or associated with the company must be named as principals.
The bond generally involves three parties:
Principal: Nevada mortgage company and its covered mortgage loan originators
Obligee: State of Nevada / Commissioner of Mortgage Lending
Surety: Corporate surety satisfactory to the Commissioner
Learn about the surety bond claim process for general information about claims and principal reimbursement obligations.
Which Bond Amount Do You Need?
$50,000 — Annual loan production of $20,000,000 or less.
$75,000 — Annual loan production of more than $20,000,000.
For an initial license, the Commissioner determines the appropriate amount based on expected annual loan production. The required amount is then determined annually based on actual annual loan production, unless federal law or regulation requires otherwise.
How to Get the Nevada Mortgage Company Bond
- Determine expected or actual annual Nevada loan production.
- Select the applicable $50,000 or $75,000 bond amount.
- Complete the online bond application.
- Complete underwriting, pay the applicable premium, and obtain the bond.
- File and continuously maintain the bond as required by the Nevada Division of Mortgage Lending.
Review NRS Chapter 645B and the Nevada Division of Mortgage Lending mortgage company licensing information for current licensing requirements.
Get Your Nevada Mortgage Company Bond
Start your Nevada Mortgage Company Bond application online. For assistance, call 855-215-2160.