Pennsylvania Mortgage Originator Bond (Individual)
This bond is required by any individual applying for a MLO license in PA unless their employer provides coverage under the company's bond. The required bond amount is based on the annual mortgage PA loan volume.
| Annual PA Originator Volume | Bond Amount | Annual Premium |
| $0- $7,499,999 | $25,000 | $150 |
| $7,500,000- $14,999,999 | $50,000 | $300 |
| $15,000,000- $29,999,999 | $75,000 | $450 |
| $30,000,000- $49,999,999 | $100,000 | $600 |
| Exceeds $50,000,000 | $150,000 | $900 |
Overview
Pennsylvania mortgage brokers are required to obtain a bond for $50,000 to $150,000 by the Pennsylvania Department of Banking and Securities. Mortgage brokers need good credit and financial standing to qualify for the bond, which is issued for one year and requires renewal.
The NNA has secured a $6 premium rate per $1,000 in liability for all Pennsylvania mortgage originators without a credit check.