Vermont Mortgage Broker Bond
The Department of Financial Regulation requires mortgage brokers to maintain a surety bond in an amount ranging from $25,000- $150,000 as part of the licensing process. The amount of the bond required varies according to annual origination volume, according to the chart below:
| Annual Origination Volume | Bond Amount Required | Annual Premium |
| $0- $2,000,000 | $25,000 | $150 |
| $2,000,001- $5,000,000 | $50,000 | $300 |
| $5,000,001- $15,000,000 | $75,000 | $450 |
| $15,000,001+ | $100,000 | $600 |
Overview
The Department of Financial Regulation requires mortgage brokers to maintain a surety bond in an amount ranging from $25,000-$150,000 as part of the licensing process. This bond serves as financial protection for clients and the state if the licensee's activity causes financial harm.
The NNA has secured a premium of $6 per $1,000 in bond liability for all mortgage brokers in Vermont without a credit check.
Note about "Other Trade Name (OTN)": Vermont Mortgage Broker Licenses are prohibited from using more than one other trade name for each license obtained. Therefore, please be advised that applicants must hold a Mortgage Broker License - Other Trade Name (and separate bond) for each other trade name that will be used at the branch.