Delaware mortgage lenders are licensed by the Office of the State Bank Commissioner. While your licensing and regulation are by this office, the filing of your surety bond is facilitated through NMLS, the Nationwide Mortgage Licensing System.
The breakdown for surety bond amounts required are as follows. This is statutorily according to the year ending December 31st which comes before the effective year.
For the $50,000 Delaware licensed lender bond, the bond is issued to you immediately for filing after payment of the $375 annual premium; there is no credit check. Additionally, the application will be taken from you directly over the phone with our Surety Agent. The entire process takes a few minutes.
All other amounts will typically involve a completed and signed application, and a business or personal credit score review. The breakdown for premiums, upon approval, are as follows:
The address of the lender license surety bond’s obligee (i.e. the entity which requires the surety bond) is:
State of Delaware
Office of the State Banking Commissioner
555 E. Lockerman Street, Suite 210
Dover, DE 19901
Our agency offers you the ability to prepay your premium for up to 3 years. This will save you over annual renewals.
However, please keep in mind that the bond amount required may adjust from year to year based on your loan origination.
Your Delaware mortgage lender surety bond is a financial guarantee of your compliance with Chapter 22, Title 5, of the Delaware Code.
More broadly, the surety bond protects consumers from acts of fraud, malfeasance, and other unlawful activities by a licensed mortgage lender in the course of business.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surety bonds to lender, mortgage brokers, and other entities in the mortgage industry nationwide.
Our agency is also a provider of license and permit, court, and probate surety bonds in Delaware and all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you.