All entities or individuals applying for or holding a Mortgage Broker license in West Virginia. Required when: Application for a mortgage broker license or renewal when loan volume changes. Exemptions: Exemptions include federally insured depository institutions (banks, savings and loan associations, credit unions), g…
Overview
What it is.
All entities or individuals applying for or holding a Mortgage Broker license in West Virginia. Required when: Application for a mortgage broker license or renewal when loan volume changes. Exemptions: Exemptions include federally insured depository institutions (banks, savings and loan associations, credit unions), g…
Who usually needs it
All entities or individuals applying for or holding a Mortgage Broker license in West Virginia.
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.
StateWVBond amountThe bond amount is based on the annual mortgage loan origination volume in West…Term lengthContinuousObligeeWest Virginia Division of Financial InstitutionsRenewalThe bond is maintained continuously and managed through the Nationwide Multistate Licensing System (NMLS). Licensees must review their loan volume annually and adjust the bond amount if necessary during the license rene…Bond classLicense BondCategoryFinancial ServicesBondSURETY BOND West Virginia Mortgage BrokerStatutory referenceW. Va. Code § 31-17-4JurisdictionState
