The Texas Mortgage Broker Bond is required by the Texas Department of Savings and Mortgage Lending.
The Commissioner of the Department of Savings and Mortgage Lending requires that the Texas Mortgage Broker Bond is required to be in the amount of $50,000 and have a two year term. However, this bond will not cost you the full bond amount. The cost of this bond starts at only $675 for two years.
The Texas Mortgage Broker Bond states that the bond principal must follow all rules and regulations under the Texas Mortgage Broker License Act. This bond must be written for, in favor of, and payable to the State of Texas and the people of the State of Texas.