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Virginia Mortgage Broker or Loan Originator Bond

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What Is a Virginia Mortgage License Bond? 

The Virginia State Corporation Commission (SCC) requires mortgage license bonds to protect the public from any potential breach of licensing laws.  Mortgage brokers, lenders and originators must file their bond with the SCC: Bureau of Financial Institutions as a part of the licensing process. 

How Much Do Mortgage Bonds Cost in Virginia?

Virginia mortgage bond premiums start at a rate of 0.75% of the total bond coverage. Exact pricing varies per applicant based on credit score. You can save 25% on select bonds by choosing a multi-year term at checkout. 

Your loan requirement will range from $25,000 to $150,000 based on the volume of loans serviced in the previous calendar year. Select the bond you need below to get a free quote:

Bond Type
$25,000Mortgage Broker or Lender BondPrevious year's loan volume between $0 and $5,000,000
Apply Now
$50,000Mortgage Broker or Lender BondPrevious year's loan volume between $5,000,001 and $20,000,000
Apply Now
$75,000Mortgage Broker or Lender BondPrevious year's loan volume between $20,000,001 and $50,000,000
Apply Now
$100,000Mortgage Broker or Lender BondPrevious year's loan volume between $50,000,001 and $100,000,000
Apply Now
$150,000Mortgage Broker or Lender BondPrevious year's loan volume greater than $100,000,000
Apply Now
$25,000Mortgage Loan OriginatorNew Mortgage Loan Originators; Previous year's loan volume between $0 and $5,000,000
Apply Now
$50,000Mortgage Loan OriginatorPrevious year's loan volume between $5,000,001 and $20,000,000
Apply Now
$75,000Mortgage Loan OriginatorPrevious year's loan volume between $20,000,001 and $50,000,000
Apply Now
$100,000Mortgage Loan OriginatorPrevious year's loan volume between $50,000,001 and $100,000,000
Apply Now
$150,000Mortgage Loan OriginatorPrevious year's loan volume greater than $100,000,000
Apply Now

Need to be bonded in multiple states? SuretyBonds.com is licensed to issue mortgage license bonds in all 50 states.

How Do I Get a Mortgage Bond in Virginia?

You can get your Virginia mortgage bond quickly and easily with SuretyBonds.com. Just follow these three steps: 

  • Step 1: Apply for your bond online
  • Step 2: Receive a free quote within one business day 
  • Step 3: Pay for your invoice online or over the phone

If you purchase a mortgage broker or lender bond, we’ll file your official bond directly with the NMLS and provide an email copy for your records.

If you purchase a mortgage loan originator bond, we’ll mail your original bond form. You must then sign and mail it to the Virginia SCC: Bureau of Financial Institutions. 

How Do I Renew My Mortgage Bond?

These bonds remain active unless canceled by the surety or the principal. If either party decides to terminate the bond early, they must provide 30-days’ written notice to the Virginia SCC. 
When your term expires, we’ll contact you to extend your bond for another term. It’s important to renew your bond to maintain active licensure. Here’s what our simple process looks like: 

  1. Pay your premium online or over the phone
  2. Sign and submit any additional documentation, if required
  3. File renewal documentation with your obligee, if required

More Resources 

Call 1 (800) 308-4358 to talk with a Surety Expert

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FREE Surety Bond Quote online