Any entity or individual seeking to be licensed as a mortgage broker in Pennsylvania who directly or indirectly negotiates or places mortgage loans for others in the primary market for consideration. Required when: Required as a condition of initial licensure and for the maintenance/renewal of a mortgage broker licens…
Overview
What it is.
Any entity or individual seeking to be licensed as a mortgage broker in Pennsylvania who directly or indirectly negotiates or places mortgage loans for others in the primary market for consideration. Required when: Required as a condition of initial licensure and for the maintenance/renewal of a mortgage broker licens…
Who usually needs it
Any entity or individual seeking to be licensed as a mortgage broker in Pennsylvania who directly or indirectly negotiates or places mortgage loans for others in the primary market for consideration.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StatePABond amountThe bond amount is based on the volume of mortgage loans originated in a calend…Term lengthContinuousObligeePennsylvania Department of Banking and SecuritiesRenewalThe bond remains in full force and effect indefinitely but requires an annual premium payment to the surety. The bond amount is reviewed annually based on the licensee's periodic reports of loan origination volume.Bond classLicense BondCategoryFinancial ServicesBondMortgage Broker BondStatutory reference7 Pa. C.S. § 6131JurisdictionState
