Bond Details

North Carolina Mortgage Broker Bond – $75,000 bond – $450 per year

Overview

North Carolina requires mortgage brokers to obtain a surety bond as part of their licensing process through the North Carolina Commissioner of Banks. The bond serves as a financial safeguard for consumers who use the services of the mortgage broker. The bond amount is determined based on the broker's loan volume and financial stability, with required liability amounts ranging from $75,000 to $250,000.

The NNA has secured premiums of $6 per $1,000 in liability for all North Carolina mortgage brokers to obtain this bond without a credit check. Mortgage brokers are required to maintain a valid and active bond throughout their licensing period.