North Carolina Mortgage Lender Bond

Mortgage lenders are required to secure a surety bond during the licensing process overseen by the North Carolina Commissioner of Banks. This bond is designed to provide financial protection to consumers who engage with the mortgage lender's services. The specific bond amount varies based on factors such as the lender's loan volume and financial stability, ranging from $150,000 to $500,000. It's imperative for mortgage lenders to maintain an active and valid bond throughout their licensing period.The NNA has secured premiums of $6 per $1,000 in liability for all North Carolina mortgage lenders to obtain this bond without a credit check.