This bond is required for companies or individuals in Pennsylvania who employ or sponsor mortgage loan originators. It protects consumers and the state from financial harm caused by unethical or illegal practices in the mortgage lending process. If the employer or sponsor violates state lending laws or commits fraud, …
Overview
What it is.
This bond is required for companies or individuals in Pennsylvania who employ or sponsor mortgage loan originators. It protects consumers and the state from financial harm caused by unethical or illegal practices in the mortgage lending process. If the employer or sponsor violates state lending laws or commits fraud, …
Who usually needs it
Mortgage brokers, mortgage lenders, partially exempt mortgage companies, or mortgage consumer discount companies that sponsor or employ mortgage loan originators (MLOs) in Pennsylvania must obtain this bond as a licensing condition under the Pennsylvania Mortgage Licensing Act. The bond covers the actions and omissions of sponsored MLOs and protects clients…
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 amountVaries by license type or projectObligeeState of PennsylvaniaBond classLicense BondCategoryOtherBondMortgage Originator Employer or Sponsor BondPlain descriptionThis bond is required for companies or individuals in Pennsylvania who employ or sponsor mortgage loan originators. It protects consumers and the state from financial harm caused by unethical or illegal practices in the…Who needs this bondMortgage brokers, mortgage lenders, partially exempt mortgage companies, or mortgage consumer discount companies that sponsor or employ mortgage loan originators (MLOs) in Pennsylvania must obtain this bond as a licensi…
