Texas Residential Mortgage Loan Servicer Bond
Texas residential mortgage loan servicers are required by the Department of Savings and Mortgage Lending to secure a Residential Mortgage Loan Servicer Bond with a bond amount of $25,000 or $50,000, depending on serviced volume. This bond serves as financial protection for clients and the state in case the residential mortgage loan servicer causes financial harm to a customer. The bonding company issuing the bond usually evaluates the financial history and creditworthiness of the servicer. The NNA has secured a flat rate of $6 per $1,000 in liability for all Texas Residential Mortgage Loan Servicers without a credit check.
The Simple Bonding Process
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Sign your contract and pay the premium.
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Receive your surety or fidelity bond.
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