Vermont Mortgage Broker or Licensed Lender Bond
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How Much Do Vermont Mortgage Broker Bonds Cost?
Vermont mortgage broker bond pricing starts at $187.50 for highly-qualified applicants. However, your exact rate can range from 0.75–5% of the bond total based on your credit score. Verify your bond requirement with the Vermont Department of Financial Regulation, then apply for your personalized quote.
Sole proprietor mortgage loan brokers in Vermont must purchase a $25,000 surety bond, starting as low as $500. Save up to 25% by selecting a multi-year term
How Much Do Vermont Lender License Bonds Cost?
Pricing for Vermont lender license bonds typically ranges from 1–2% of the bond amount. Bond coverage varies based on the dollar amount of loans originated annually. Verify your bond requirement with the Vermont Department of Financial Regulation, then apply for your personalized quote.
If you work as a mortgage professional in other states, we offer mortgage industry license bonds nationwide. We also issue bonds for Vermont loan servicers.
How Does a Vermont Mortgage Broker or Licensed Lender Bond Work?
Vermont mortgage broker and licensed lender surety bonds create a contract between three parties:
- Principal: The mortgage broker/lender who purchases the bond
- Surety: The company that issues the bond to the principal
- Obligee: The Vermont Department of Financial Regulation that requires the bond
If the principal violates the bond terms and a consumer is harmed, the surety will cover damages up to the full bond amount. The principal is then responsible for reimbursing the surety.
How Do I Get a Mortgage Broker or Licensed Lender Bond in Vermont?
With SuretyBonds.com, you can get your Vermont mortgage broker or licensed lender bond in just four easy steps:
- Apply for your surety bond online
- Receive a free quote within one business day
- Sign your documents with DocuSign
- Checkout on our secure, online portal
We’ll upload the bond directly to the NMLS on your behalf and email you a copy for your records.
What Is a Vermont Mortgage Broker or Licensed Lender Bond?
Vermont mortgage broker or licensed lender licensees must file a surety bond with the Vermont Department of Financial Regulation. This ensures that lenders will follow the conditions outlined in Title 8, Chapter 73 of the Vermont Statutes. Mortgage brokers in Vermont must also follow the Vermont Banking Division Regulation B-2014-02.
How Do I Renew My Bond?
Vermont mortgage loan broker and licensed lender bonds require annual renewal. A SuretyBonds.com representative will contact you with renewal instructions and an invoice to keep your bond active before your term ends. To cancel a bond, the principal or surety must send 30-day’s written notice to the obligee.
How to Become a Mortgage Broker or Licensed Lender in Vermont?
Mortgage brokers and loan originators in Vermont must be licensed and bonded with the Department of Financial Regulation. Use the NMLS checklists below to complete all the requirements for the Vermont mortgage license you need:
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
