Vermont Loan Solicitation License Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Vermont Loan Solicitation Companies
The Vermont Department of Financial Regulation is the state regulatory body which oversees the licensing of loan solicitation companies.
The filing of your application and surety bond are facilitated through NMLS, the Nationwide Mortgage Licensing System.
Our agency will electronically file your surety bond to NMLS on your behalf after its purchase. The surety bond amount for Vermont loan solicitation companies is a standard $25,000; and the Commissioner has the option to require a greater amount.
Qualifying and the Premium
You are automatically approved for the $25,000 (and up to $50,000, if required) Vermont loan solicitation bond. This is because there is no credit check nor underwriter review. The premium for the $25,000 surety bond amount is just $188, annually.
When you call us, the application process is simple enough. We’ll just need you to provide us with the basics: The name, exactly as it should appear on your bond, along with your contact information. Besides your address, this includes your email and phone number.
After payment of the premium, our agency will electronically file your bond on your behalf to NMLS.
Surety Bond Term; Premium Prepayment Options
The Vermont loan solicitation license bond is active for one year from the anniversary of its issuance and renews annually.
Our agency also offers you the option to prepay your $25,000 loan solicitation surety bond (i.e. the same is true for other surety bond amounts).
The premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $338, a $38 savings;
- If prepaid for 3 years, the premium is $489, a $75 savings.
Purpose of Your Surety Bond Requirement
Your loan solicitation license bond serves as a financial guarantee of your compliance with all statutes and rules concerning your professional conduct. The bond protects the state of Vermont and consumers who suffer harm or loss due to unlawful conduct or practices by a licensed loan solicitation business.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, probate, and other surety bonds in Vermont and all 50 states.
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