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Maryland Mortgage Lender Licensee Bond

How much does a mortgage lender licensee bond cost in Maryland?

The required amount of Maryland mortgage lender licensee bonds varies based on the volume of loans produced by a mortgage lender in the previous year. The amount you’ll pay for your bond depends directly on your bond amount and personal credit report.

Because the required amount and price of this bond vary so much, it’s best to give us a call at 1 (800) 308-4358 to speak directly with a surety expert who can give you a personalized, free surety bond quote. Or, you can submit an online contact form, and one of our experts will contact you right away!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Mortgage Lender Licensee Bond (Less than $3,000,000 in loans) $50,000 Starts at $500 $2,500-4,000 $5,000+ Apply Now
Mortgage Lender Licensee Bond ($3,000,000-$10,000,000 in loans) $100,000 Starts at $1,000 $5,000-8,000 $10,000+ Apply Now
Mortgage Lender Licensee Bond (Greater than $10,000,000 in loans) $150,000 Starts at $1,500 $7,500-12,000 $15,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get bonded, call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form.

Why do I need this bond?

Maryland mortgage lender licensee bonds ensure that principals (mortgage lenders) are held liable for any and all financial losses suffered by customers or the state as a result of their unethical or unlawful business practices. Prohibited actions include, but are not limited to, the following:

  • depositing clients’ money into an unauthorized account
  • making fraudulent claims to customers
  • acting as a mortgage lender without a license

Our team of surety experts is here to help you with any bonding questions you might have. Submit a bond request during our business hours, and one of our bond experts will call you right away to walk you through our easy bonding process and get you a free, no-strings-attached surety bond quote.

What’s the fine print?

Mortgage lender licensee surety bonds are required by the State of Maryland Commissioner of Financial Regulation and are regulated by the Maryland Mortgage Lender Law found under the Maryland Financial Institutions Code. Mortgage lender licensee bonds are continuous until canceled, and the surety must provide the state with at least 60 days of notice prior to cancellation.

This surety bond form covers 6 types of licenses in Maryland, so be sure to tell our experts which license you’re applying for so we can get you the bond you need.

How to become a mortgage lender licensee in Maryland

Prior to submitting a license application, applicants must supply the following:

  • surety bond amount based on the aggregate volume of business
  • a criminal background check (federal and state)
  • financial responsibility/credit worthiness
  • proof of at least 3 years of experience in the mortgage lending business
  • entity specific documents (articles of incorporation, articles of organization, by-laws, operating agreement, partnership agreement, limited partnership agreement)
  • certificate of authority/good standing certificate from the state (if applicable)
  • trade name certificate (if applicable)

To become licensed as a mortgage lender, applicants must first obtain a surety bond. Fill out our quick and easy bond request form here to take the first step towards getting bonded.

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Get a FREE Mortgage Lender Licensee Bond Quote Today!

Maryland Department of Labor, Licensing and Regulation Office of the Commissioner of Financial Regulation Applicants and Forms

Maryland Department of Labor, Licensing and Regulation Office of the Commissioner of Financial Regulation Mortgage Lenders, Brokers and/or Servicers

NMLS Maryland Mortgage Lender License

Maryland Mortgage Lenders/Brokers/Servicers Licensee Surety Bond Form

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