Wyoming Supervised Lender Bond Guide
If you’re applying for a supervised lender license in Wyoming, you’ll need this surety bond.
Bond Overview
- Purpose: To protect consumers from financial harm and ensure adherence to state laws
- Who Needs It: All supervised lenders in Wyoming
- Regulating Body: The Wyoming Department of Audit, Division of Banking
- Required Coverage: $25,000, $50,000, or $100,000, based on annual loan volume
- Premium Rate: 0.75–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a Wyoming Supervised Lender Bond?
A Wyoming supervised lender bond protects clients from financial harm if a lender breaks license regulations.
Every new supervised lending company in Wyoming needs $25,000 in surety bond coverage for initial licensing. After the first year, your bond amount will be $25,000, $50,000 or $100,000 based on the prior year’s residential mortgage loan business.
How Much Do Supervised Lender Bonds Cost in Wyoming?
Wyoming supervised lender bonds cost a small percentage of the bond amount, typically 0.75–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Supervised Lender Bond?
The Wyoming Department of Audit, Division of Banking requires this bond as part of the licensing process for supervised lenders in the state.
Need a different bond? Visit our Wyoming Mortgage License Bond page to see more options.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Wyoming supervised lender bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll upload the bond directly to NMLS on your behalf and email a copy for your records.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Wyoming Supervised Lender Bond Work?
As with all surety bonds, a supervised lender bond creates a legal contract between three parties:
- Principal: You, the supervised lender filing the bond
- Obligee: The Wyoming Department of Audit, Division of Banking requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Wyoming Uniform Consumer Credit Code Act.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your supervised lender bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
