Pennsylvania Sponsor of Mortgage Originators Bond
Flat Rates & No Credit Check
| Annual Originator Volume | Bond Amount Required | Bond Term | Annual Premium |
| $0-$29,999,999 | $100,000 | 1 Year | $600 |
| $30,000,000-$99,999,999 | $200,000 | 1 Year | $1,200 |
| $100,000,000-$249,999,999 | $300,000 | 1 Year | $1,800 |
| Exceeds $250,000,000 | $500,000 | 1 Year | $3,000 |
Any entity including a mortgage broker, mortgage lender, partially exempt mortgage company or mortgage consumer discount company that sponsors mortgage loan originators must obtain a Sponsor of Mortgage Originators surety bond. The required bond amount depends on the annual amount of residential mortgage loans originated by the sponsored originators in PA.
Cost of the Pennsylvania Sponsor of Mortgage Originators Bond
The cost of the $50,000 to $500,000 Pennsylvania sponsor of mortgage originators bond is $300 to $3,000 per bond term with NNA Surety. Secure this surety bond today.
Pennsylvania mortgage brokers are required to maintain a surety bond for $50,000 to $500,000 by the Pennsylvania Department of Banking and Securities. This bond is issued for one year and requires renewal. The NNA has secured a rate of $6 per $1,000 in liability for all Pennsylvania mortgage brokers without a credit check.
How the Pennsylvania Sponsor of Mortgage Originators Bond Works
The Pennsylvania sponsor of mortgage originators bond protects consumers by holding sponsoring entities financially accountable for covered activities of their sponsored mortgage loan originators.
The bond involves three parties:
- Principal: Sponsor of mortgage originators
- Obligee: Commonwealth of Pennsylvania
- Surety: Bonding company
A claim against the bond may be filed for covered violations involving sponsored mortgage loan originators. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Pennsylvania Sponsor of Mortgage Originators Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable $300 to $3,000 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Pennsylvania mortgage licensing requirements.
Learn more about your Pennsylvania surety bond options across the state.
Get Your Pennsylvania Sponsor of Mortgage Originators Bond
Keep your Pennsylvania bonding requirements on track by securing your sponsor of mortgage originators bond today. Complete this form or call 855-457-2196 to get bonded.