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Massachusetts Mortgage Loan Originator Bond

A Massachusetts mortgage loan originator bond is a $25,000 surety required by the Commonwealth’s Division of Banks. This bond can be sent to you by the next business day, at the latest! Please call AmeriPro Surety Bonds today at: 844-589-9732.

Massachusetts Mortgage Loan Originator Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Loan Originators – Massachusetts

 

 

 

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.

 

 

 

Massachusetts Mortgage Loan Originator Bond: Amount Required and the Cost

 

 

 

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:

  • A surety bond application (we can provide this to you, or you may complete it over the phone with an agent);
  • A credit score check (AmeriPro Surety Bonds utilizes a ‘soft inquiry’ which will not have any affect on your credit score).

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.

 

 

 

Surety Bond Term

 

 

 

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 Purpose of this Surety Bond

 

 

 

The Massachusetts loan originator bond, as stated in the bond wording, has 3 essential purposes:

  • It is a financial guarantee that ensures your compliance with Chapter 255F, which is the general body of laws governing loan origination in the Commonwealth;
  • It is a guarantee that you will honor all written agreements and commitments with consumers and borrowers;
  • The surety bond is a financial guarantee that you will account for all funds received from borrowers and consumers.

 

 

About Us

 

 

 

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:

 

 

 

844-589-9732

 

 

 

Or, you may fill out the form below to be contacted by a surety bond agent.

 

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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