The Utah Mortgage Loan Originators Bond is required by the Utah Department of Financial Institution. The bond is in place to reimburse the state for any expenses they may incur. Expenses resulting from proceedings against a current or former licensee.
Requirements are based on the the annual origination volume during the prior calendar year. The sum amounts of all loans originated, arranged, booked, brokered, funded or otherwise included in the individuals personal loan production.
An individual who takes a mortgage loan application must be licensed if they are compensated. In addition, if they negotiate a term for a residential mortgage loan. The Utah Loan Originators Bond is one of the licensing requirements.
At Surety1 you can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your Utah Mortgage Loan Originators Bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.
Call us toll free at 877-654-2327. We have live surety bond agents available Monday – Friday, 8:00 – 4:30 PST. We’re glad to help.