Massachusetts mortgage loan originators have their licensing administered by the Division of Banks.
The surety bond is also a requirement, and when purchased is filed electronically through NMLS .
AmeriPro Surety Bonds provides the mortgage loan originator bond as both a new and renewal surety bond.
The Massachusetts mortgage loan originator bond is a $25,000 surety bond required of loan originator companies in the Commonwealth.
While pricing will vary, all applicants for the loan originator bond will be required to complete:
Well-qualified applicants may pay as little as 1% or $250 annually for this bond; however, the amount that you will be asked to pay may vary from this figure.
The Massachusetts loan originator bond will be active for one year from the date of issuance.
Options may exist to purchase the bond for up to 3 years, thereby offering you a savings over a year to year renewal.
As stated by statute, a bond which goes inactive or is not renewed will result in the suspension of licensing.
The Massachusetts loan originator bond, as stated in the bond wording, has 3 essential purposes:
AmeriPro Surety Bonds is a surety bonds-only agency which provides surety bonds throughout New England and nationwide. Such bonds include license and permit, contractor, court, and fiduciary bonds.
Please call our agency today at:
Or, you may fill out the form below to be contacted by a surety bond agent.