Date Published: December 21, 2017

The Maine Mortgage Loan Originator Bond is a $25,000 surety bond required to obtain a license to become a loan originator in Maine. The bond is in place to protect the public and the state of Maine from the consequences of dishonest or incompetent loan originators. ItMaine Mortgage Loan Originator Bond is NOT INSURANCE for the loan originator. The bond is part of the Nationwide Mortgage Licensing System (NMLS)-based “mortgage loan originator” licensing program. This bond is required for all individual loan originators in the state of Maine. For the required entity bond, visit the Maine Mortgage Loan Broker Page. 

Click Here to Apply for Your Maine Mortgage Loan Originator Bond

Education Requirements for new Mortgage Loan Originators

New applicants for a Mortgage Loan Originator (MLO) license must complete 20 hours of NMLS-approved courses to satisfy the pre-licensing educational requirement.  Of the total hours, three hours must focus on federal laws and regulations; three hours on ethics; and two hours on non-traditional mortgage products.

Click Here to Apply for Your Maine Mortgage Loan Originator Bond

What if I change Employers?

If a mortgage loan originator (MLO) changes employers, that MLO must take quick action, since he or she is not qualified to originate loans from the time of leaving the prior employer, to the time the Bureau approves the MLO with the new employer.  This strict rule is designed to prevent an individual from originating loans during such time as the Bureau does not have proof that the new employer’s surety bond on file with the state will cover damages caused by, or losses incurred as the result of actions by, the new employee.  No changes are required in the individual’s Maine Mortgage Loan Originator’s  Bond.

Click Here to Apply for Your Maine Mortgage Loan Originator Bond 

You can apply online in minutes and obtain a quote, usually the same day day you apply. Surety1 is licensed in all 50 states and the District of Columbia to handle all your mortgage industry bond needs. Surety1 has been providing bonds to the mortgage industry since 2003.

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

Surety Bond Experts

Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

Get started with the bond application process today.

Most bonds are fully processed within 1-2 business days. In some cases, you'll hear back from Surety1 within hours!