Virginia Mortgage Loan Originator Bond
Cost of Virginia Mortgage Loan Originator Bond
| MLO Loan Volume | Bond Amount Required | Bond Term | Annual Premium |
| $0-$5,000,000 | $25,000 | 1 Year | $150 |
| $5,000,001-$20,000,000 | $50,000 | 1 Year | $300 |
| $20,000,001-$50,000,000 | $75,000 | 1 Year | $450 |
| $50,000,001-$10,000,000 | $100,000 | 1 Year | $600 |
| Exceeds $100,000,000 | $150,000 | 1 Year | $900 |
Individual Mortgage Loan Originators (MLOs) not covered by their employer's bond must obtain and maintain a personal surety bond. The amount of the bond varies based on the MLOs annual loan volume from the previous calendar year according to the chart above.
Overview
Individual mortgage loan originators in Virginia may be required to get a surety bond in an amount ranging between $25,000 and $150,000 based on their origination volume. The bonds are available at a rate of $6 per $1,000 in liability and are issued in the Nationwide Mortgage Licensing System (NMLS) without a credit check.
The Simple Bonding Process
View your price or request a free quote
Discover unbeatable value with coverage options tailored to your needs.
Sign your contract and pay the premium
Seal the deal and ensure protection and peace of mind for your business.
Receive your surety or fidelity bond
Expect a speedy turnaround. Our typical turnaround time is 24 hours or less.
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