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Pennsylvania Mortgage Originator Employer Bond

How much will my Pennsylvania mortgage originator employer bond cost?

Pennsylvania mortgage originator employer bonds do not have a fixed amount. The bond amount is determined by the cash value of mortgage loans secured in the past year. For mortgage loan originators in their initial year, the bond amount will be equal to the projected cash value of loans to be secured in the proceeding year. The price you’ll pay for your bond will vary based on your personal credit report. Applicants with an excellent credit report might qualify to pay the minimum price of just 1% of the bond amount!

Our team of surety specialists is dedicated to getting all of our applicants bonded regardless of their credit status. Apply for a free bond quote today to connect with a bond expert.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Mortgage Originator Employer Bond Varies Starts at 1% 4-10% 10%+ 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 submit a bond request today. One of our experts will personally walk you through our clear-cut bonding process. It’s that easy!

Why do I need this bond?

Mortgage originator employer bonds are required of any persons intending to hire mortgage originators and offer mortgage origination services in Pennsylvania. The bond ensures that the mortgage originators and the employer comply with the provisions of the Mortgage Licensing Act. It also ensures that the principal (the employer) pays all wages to his or her employees, as well as all moneys due to the Department or to any persons financially injured by unethical and unlawful business practices.

Still have questions? Contact a surety specialist today! Our team of experts is here to help you get the bond you need as fast as possible.

What’s the fine print?

Pennsylvania mortgage originator employer bonds are required by the Pennsylvania Department of Banking. Mortgage originator employer bonds are considered continuously effective until canceled. Sureties must give the state at least 30 days’ notice prior to any cancellation.

How to become a mortgage originator employer in Pennsylvania

Licensees must commit to the following stipulations:

  • comply with all provisions of the Mortgage Licensing Act
  • comply with all provisions of the Loan Interest and Protection Law

The applicant should also provide the following information on their application for licensure:

  • name of sponsoring licensee or excepted person of the applicant
  • name of each business partner of the company, if applicable
  • any other information required by the department

At SuretyBonds.com, our team of experts is ready to answer your questions. Apply for a personalized bond quote to speak with a surety expert right away!

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Get a FREE Mortgage Originator Employer Bond Quote Today!

Pennsylvania Department of Banking and Securities - Sponsor of Mortgage Originators Bond

Pennsylvania Department of Banking and Securities - Mortgage Licensees Page

NMLS Pennsylvania License Requirements

Pennsylvania Mortgage Licensing Act

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