Platinum Bonds Insurance Agency
Research before you apply.Mortgage Originator - Individual
Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.
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BBB A+ AccreditedView the agency profileMortgage Originator - Individual
Individuals applying for or holding a Michigan mortgage loan originator license must obtain this bond, unless covered by their sponsoring company's bond. This applies to mortgage loan originators who take residential mortgage loan applications for profit or gain and require licensure under the Michigan Mortgage Loan Originator Licensing Act (MLOLA).
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 depending on the specific bond type, state program, or underwriting requirements.
Your quote determines the actual premium.Issuance timeframe varies by bond type and underwriting
Timing can change when underwriting needs more information.Confirm the bond and provide applicant and business details.
See the terms and premium before deciding to continue.
Complete the required payment and signatures.
Get the issued bond and filing or delivery instructions.
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“My bond application was processed and received very quickly.”
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“I highly recommend you do business with these folks.”
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