Vermont Mortgage Lender Bond
The Amount of the Bond Required Varies According to Annual Origination Volume According to the Chart Below:
| Annual Origination Volume | Bond Amount Required | Bond Term | Annual Premium |
| $0-$1,000,000 | $50,000 | 1 Year | $300 |
| $1,000,001-$15,000,000 | $100,000 | 1 Year | $600 |
| Excess $15,000,001 | $150,000 | 1 Year | $900 |
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 protects clients and the state financially 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 lenders in Vermont without a credit check.
Cost of the Vermont Mortgage Lender Bond
The cost of the $25,000 to $150,000 Vermont mortgage lender bond is $150 to $900 per bond term with NNA Surety. Secure this surety bond today.
How the Vermont Mortgage Lender Bond Works
The Vermont mortgage lender bond protects clients and the state by holding licensed mortgage lenders financially accountable for complying with applicable requirements.
The bond involves three parties:
- Principal: Mortgage lender
- Obligee: State of Vermont
- Surety: Bonding company
A claim against the bond may be filed when covered mortgage lending activity causes financial harm. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Vermont Mortgage Lender Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable $150 to $900 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Vermont mortgage lender license.
Learn more about your Vermont surety bond options across the state.
Get Your Vermont Mortgage Lender Bond
Keep your Vermont licensing requirements on track by securing your mortgage lender bond today. Complete this form or call 855-457-2196 to get bonded.