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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.
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:
20 hours of pre-licensure education
Pass the Utah State components of the SAFE Test
$200 Utah-DFI License/Registration Fee
FBI criminal background check
Submission of the MU4 form
All licensing fees are required by the obligee, not the surety company.
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 OnlineUsing our Free & Secure Application2. Get Your Free QuoteApplications are No-Obligation3. Get Your BondMost Bonds are Approved in 1-2 Business Days