The Texas Department of Savings and Mortgage Lending requires the Texas Residential Mortgage Loan Servicer Bond.
The Texas Residential Mortgage Loan Servicer Bond is required to provide financial surety for the discharge by the bond holder of any and all monetary obligations to the Texas Department of Savings and Mortgage Lending. It also provides financial surety for any person to whom an obligation of the Principal arises. This is especially true regarding any and all acts or omissions arising under or relating to the Act or any regulations, rules, or orders issued. This bond helps ensure that residential mortgage loan serviers in the State of Texas will abide by any and all law pertaining to them, especially the Texas Finance Code.
This bond is an essential part of becoming a licensed residential mortgage loan servicer. It must be submitted as part of the pre-application process for the license. To view more information about the forms needed to become a licensed residential mortgage loan servicer, you can click here.