The Vermont lender license bond is offered at $50,000 without a credit check; and for higher amounts at less than 1% annually. Please call AmeriPro Surety Bonds at 844-589-9732.
Vermont mortgage lenders are licensed and regulated by the state’s Department of Financial Regulation. This license authorizes the following categories and duties:
While the Department regulates your lender license activities, your license and surety bond are filed through NMLS, the Nationwide Mortgage Licensing System.
After its purchase, our agency can electronically file your lender license surety bond on your behalf.
The amount of your surety bond is based on your loan lender production levels:
Since the amounts are statutorily given as “...not less than...”, the Commissioner may have the authorization to increase the surety amount required in any given instance.
You are automatically approved for the $50,000 Vermont lender license bond. There is no credit check nor underwriting and the premium is $375 annually, ¾ of 1%.
Other amounts will require a completed and signed application, which we’ll begin with you over the phone, and a credit inquiry (good credit, of course is required).
Approval for the other two amounts will be at the following amounts:
When you call us, we’ll ask you the following:
After payment of the premium, your bond is issued to you immediately. Again, we’ll electronically file it on your behalf to NMLS, along with the Power of Attorney form.
The premium associated with your Vermont lender license bond will renew on the anniversary of its issuance. Our agency also offers you the ability to prepay your bond’s premium up to 3 years, offering you a savings over annual renewals.
If you choose this option, you should bear in mind that the amount of surety required of you may change from one year to the next.
The obligee’s (i.e. the entity which requires your surety bond of you) address is:
State of Vermont
Commissioner of Banking, Insurance, & Securities
89 Main Street, Drawer 20
Montpelier, VT 05620
Your bond is a financial guarantee of your compliance with Title 8 Vermont Statutes Annotated, Chapter 73, as amended.
AmeriPro Surety Bonds provides lender mortgage surety bonds nationwide. As a surety bonds-only agency, we are a provider of license and permit, probate, and court surety bonds in all 50 states.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contract you...
