Washington Consumer Loan Company Bond

The Washington Consumer Loan Company Bond is a type of surety bond  Washington State Department of Financial Institutions (DFI). The amount of the surety bond is $30,000 and the cost of the bond is usually between 1% and 3% of the bond amount.

How to Get a Washington Consumer Loan Company Bond

The license application is administered by the Nationwide Mortgage Licensing System (NMLS), and the surety bond is filed electronically to the NMLS. At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the surety bond will be filed electronically to the NMLS.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.} 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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Who Needs this Surety Bond?

The Washington Consumer Loan Company Bond is a license requirement in Washington.  Who is required to have the Washington Consumer Loan Company license?

• This license is required for any person or entity offering mortgage or non-mortgage loans to Washington State borrowers or on Washington State property.
• This license is required for any person or entity servicing Washington State residential mortgage loans.
• This license is required for any person or entity servicing any student education loan for Washington State student education loan borrowers.
• This license is required for any person or entity offering third party residential mortgage loan modifications to Washington State borrowers or on Washington State property.

See chapter 31.04.025 RCW for licensing exemptions.