New Jersey Residential Mortgage Lender Bond - Corporation

Bond Details

NJ Residential Mortgage Lender Bond - Corporation – $150,000 bond – $900 per year

Overview

New Jersey residential mortgage lenders are typically obligated to secure a surety bond ranging from $100,000 to $300,000 as part of their licensing process under the oversight of the New Jersey Department of Banking and Insurance.

This surety bond acts as a financial safeguard for consumers who engage with the lender's services. The specific bond amount within the specified range is determined based on factors such as the lender's loan volume and financial stability. Lenders must maintain an active and valid bond throughout their licensing period.