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Utah Mortgage Loan Originators Bond (Individual)

Bond Requirements and Online Application

The Utah Mortgage Loan Originators Bond (Individual) is required by the Utah Department of Commerce Division of Real Estate.

Utah Mortgage Loan Originators Bond (Individual)

The Utah Mortgage Loan Originators Bond (Individual) is in compliance with the Utah Residential Mortgage Practices and Licensing Act (Utah State Code Section 61-2c) as well as the federally mandated SAFE Act.

The required bond amount depends on the loan volume originated during the prior calendar year:

  • A loan volume up to $10 million requires a $25,000 surety bond.
  • A loan volume between $10 million to $30 million requires a $50,000 surety bond. 
  • A loan volume over $30 million requires a $100,000 bond. 

The price for the bond, also known as the bond premium, is only a small fraction of the bond amount. The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct

Licensing Fees and Requirements:

  • Surety bond
  • 20 hours of pre-licensure education
  • Pass the Utah State components of the SAFE Test
  • $200 Utah-DFI License/Registration Fee
  • Credit report
  • FBI criminal background check
  • Submission of the MU4 form
  • Disclosure questions
  • Employment history

All licensing fees are required by the obligee, not the surety company.

CLICK HERE for additional licensing information from the Utah Department of Commerce Division of Real Estate. 

APPLY for this bond and get a free quote here 

 

How to Get Your Utah Mortgage Loan Originators Bond (Individual)

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 Utah Mortgage Loan Originators Bond (Individual)!   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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