Virginia Mortgage Loan Originator Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $25,000 | 1 Year | $150 |
| $50,000 | 1 Year | $300 |
| $75,000 | 1 Year | $450 |
| $100,000 | 1 Year | $600 |
| $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 MLO's annual loan volume from the previous calendar year according to the chart above.
Required by the Commonwealth of Virginia, the Virginia mortgage loan originator bond helps ensure compliance with applicable mortgage loan originator requirements and provides financial protection for covered violations.
Cost of the Virginia Mortgage Loan Originator Bond
The cost of the $25,000 to $150,000 Virginia mortgage loan originator bond is $150 to $900 per bond term with NNA Surety. Secure this surety bond today.
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.
How the Virginia Mortgage Loan Originator Bond Works
The Virginia mortgage loan originator bond protects consumers by holding individually bonded mortgage loan originators financially accountable for complying with applicable state requirements.
The bond involves three parties:
- Principal: Mortgage loan originator
- Obligee: Commonwealth of Virginia
- Surety: Bonding company
A claim against the bond may be filed for covered violations of Virginia mortgage loan originator requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Virginia Mortgage Loan Originator 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 Virginia mortgage loan originator license.
Learn more about your Virginia surety bond options across the state.
Get Your Virginia Mortgage Loan Originator Bond
Stay compliant with Virginia licensing requirements by securing your mortgage loan originator bond today. Complete this form or call 855-457-2196 to get bonded.