MA Mortgage Broker Bond
Let’s get to it! You are probably wondering how much a mortgage broker bond costs in Massachusetts. Well here you go. We can help you get bonded when you are ready to take the next step. All quotes are free, and you have no obligation to buy. We have been the mortgage broker bond professional since 1984! We know what paper to use to write you bond. Give yourself piece of mind knowing your bond was done properly.
Massachusetts has a $75,000 MA Mortgage Lender Surety Bond requirement, which is to be filed with the Treasurer and Receiver-General of the Commonwealth of Massachusetts.
All MA broker bonds must have an annual premium date of 12/31 through 12/31 of the next year. Upon renewal, Brokers must provide additional information from the surety bond company for proof that the bond is paid through 12/31 of the next calendar year.
Along with the $75,000 MA Mortgage Broker Surety Bond, applicants applying for this license are required to have at least 3 years experience in this business, and have a minimum net worth of $25,000.
Mortgage Broker Surety Bond
In Massachusetts, any person or company who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans on residential property for others, is defined as a Mortgage Broker.
Applicants who are also applying for a Massachusetts Lender license, must also obtain the $100,000 Mortgage Lender Surety Bond. See our MA Mortgage Lender page for more details. Our friendly staff is always available to answer any questions you may have about surety bonding. Please call NFP Surety at (480) 947-3555 for a free, personalized quote. We are the MA surety bond professionals. Simply fill out the application, and we will contact you shortly. Reach out to NFP Surety for all your bonding needs.