(844) 589-9732

Massachusetts Mortgage Lender Bond

April 26, 2019

The Massachusetts mortgage lender bond is a surety bond required by statute; the bond requirement is administered by the Division of Banks. Please call AmeriPro Surety Bonds today at: 844-589-9732.

Massachusetts Mortgage Lender Bond |

AmeriPro Surety Bonds | 844-589-9732




Mortgage Lenders – Massachusetts




The Massachusetts mortgage lender license is administered by the Commonwealth’s Division of Banks.

Statutes relating to mortgage lending include obtaining a surety bond.

AmeriPro Surety Bonds offers the mortgage lender surety bond for first time and renewal applicants alike.

Our agency also offers the Massachusetts mortgage broker surety bond, so if you require that surety bond, please feel free to call us as well.




Massachusetts Mortgage Lender Bond: Amount Required




In addition to the net worth requirement of at least $200,000, mortgage lenders must furnish the Division of Banks with evidence of the appropriate surety bond.

The Massachusetts mortgage lender bond is:

  • No less than a $100,000 surety bond;
  • And no more than a $500,000 surety bond.

The Commission also reserves the right to increase an already purchased surety bond amount at any time, at its discretion.




Obtaining this Surety Bond and its Cost




Applicants for the Massachusetts mortgage lender bond will pay a premium that will be determined by the following:

A detailed surety bond application.

As part of the underwriting process (this refers to the process where the determination of whether a surety bond will be issued, and if so, at what cost), because of the mortgage lender surety bond’s large size, you may be asked:

  • To provide a financial statement;
  • To state your source or sources of income and the amount you earn;
  • To state the amount of your investments, where held, and their nature (stocks, mutual funds, munis, etc.)
  • To provide a list of any real property owned;
  • To provide a banking statement reaching back between 3-6 months.

Also, of great significance, a credit score check will be provided. Our agency utilizes a “soft inquiry” which will not adversely affect your credit score at all.

As a general rule, an applicant with good credit may expect to pay between 1-3% of the bond’s amount.

Applicants with credit scores which are “fair” may pay somewhat more; however, our agency works to find you the best surety bond pricing.

We also do not charge additional fees for our services beyond the premium required.








The Massachusetts lender bond is active for one year after the date of issuance, thereafter, the bond must be renewed.

Renewal of your mortgage lender bond (and license) also entails renewal of the premium.

Massachusetts law is clear: Your mortgage lender license will be suspended upon the cancellation of yours surety bond. Fortunately, we will do our best to keep you aware of the renewal date.




The Purpose of the Surety Bond




The purpose of mortgage lender surety bond, while required of you as a mortgage lender and a condition of licensing, is for the benefit of the consumer and borrower.

As stated within the surety bond’s wording, the mortgage lender bond is a financial guarantee:

  • That you and any employees will honor all written agreements with borrowers;
  • That you will accurately account for all funds received from borrowers or consumers;
  • That you will be in compliance with all laws, statutes, and amendments regulating the conduct and practices of mortgage lenders in the Commonwealth.

As principal of this surety bond you are responsible for all costs and fees paid by your surety against any surety claims. In no case, however, will the amount paid exceed the aggregate amount of the bond.




About Us




AmeriPro Surety Bonds is a surety bonds-only agency which provides mortgage broker surety bonds in Massachusetts and nationwide.

Our agency also provide license and permit, contractor, court, and fiduciary surety bonds.

Please call us today at:








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