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California Mortgage Lender Surety Bond

Bond Requirements and Online Application

The California Mortgage Lender Surety Bond is required by the State of California, Department of Business Oversight, in order to obtain a Mortgage Lender License.

What are the requirements in order to be licensed as California Mortgage Lender and or Servicer?

First, the applicant must be an approved lender of one or more of the following before being considered:California Mortgage Lender Surety Bond

  • the Federal Housing Administration (FHA),
  • Veterans Administration (VA),
  • Farmers Home Administration (FmHA),
  • Government National Mortgage Association (Ginnie Mae),
  • Federal National Mortgage Association (Fannie Mae) or
  • Federal Home Loan Mortgage Corporation (Freddie Mac)

The applicant must then submit the following via the online National Mortgage Licensing System (NMLS):

  • Audited financial statements demonstrating tangible net worth of at least $250,000
  • Apply for a background check for all stockholders, principal officers and directors
  • California Mortgage Lender Surety Bond in the minimum amount of $50,000*
  • The following fees: a $900 application fee, a $100 NMLS filing fee, and a $62 investigation fee

*Once the applicant has obtained their Mortgage Lender License, they will be required to maintain a California Mortgage Lender Surety Bond that covers the activities of the MLOs they employ. The bond amount will be based on the amount of origination and/or servicing activities conducted by the licensee in the preceding calendar year, as follows:

Aggregate Loans Bond Amount
Under $50,000,000 $50,000
$50,000,001 – $500,000,000 $100,000
Over $500,000,001 $200,000

More information about these licensing requirements and processes can be found on the CA Department of Business Oversight website.

Where can I get a California Mortgage Lender Surety Bond?

In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will file your bond via the online NMLS!

Why choose Surety1?

At Surety Solutions Insurance Services, Inc. (Surety1), our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Located in California and licensed in all 50 states.

How to Get Your California Mortgage Lender Surety Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your California Mortgage Lender Surety Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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