West Virginia Mortgage Broker Surety Bond
Flat Rate & No Credit Check
| Loan Origination Volume | Bond Amount Required | Annual Premium |
| $0- $3,000,000 | $50,000 | $300 |
| $3,000,001- $10,000,000 | $75,000 | $450 |
| $10,000,001+ | $100,000 | $600 |
| If the broker acts as a table-funded lender | $150,000 | $900 |
In West Virginia, mortgage brokers are required to obtain a surety bond in the amount as determined by the volume of mortgage loans originated in West Virginia in a single year, according to the table above.
Overview
West Virginia mortgage brokers are required to obtain a mortgage broker bond with a bond amount ranging from $50,000 to $100,00 as part of their licensing process. The specific bond amount within this range is determined based on factors like the mortgage brokers' loan volume and financial status. The NNA has secured a $6 rate per $1,000 of liability for all West Virginia mortgage brokers 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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