Virginia Mortgage Loan Originator Bond
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 below:
| MLO Loan Volume | Bond Amount Required | Annual Premium |
| $0- $5,000,000 | $25,000 | $150 |
| $5,000,001- $20,000,000 | $50,000 | $300 |
| $20,000,001- $50,000,000 | $75,000 | $450 |
| $50,000,001- $100,000,000 | $100,000 | $600 |
| $100,000,001+ | $150,000 | $900 |
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.