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Delaware bonds

Delaware — Mortgage Broker Bond

Prepare your Delaware mortgage broker bond under the brokerage's company name. If the company is providing originator coverage, keep the named originators and their relationships ready too.

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Recorded state
Delaware
Category
Financial services

What this bond does

Secure the brokerage duties described in the requested Delaware bond.

Who needs it
Delaware mortgage loan broker businesses with a company bond request.
Who it protects
The actual bond defines the recipient and protected obligations. Company security does not by its title establish coverage for every employee.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Prepare any originator coverage information

The State Bank Commissioner's coverage form distinguishes mortgage loan broker from licensed lender. It asks an authorized company representative to identify covered originators, NMLS numbers, sponsorship status and hire dates.

Use that information where your instructions call for it. The coverage declaration and execution or delivery of the issued bond are separate from the provider application.

Sources

Have these ready

  1. Broker company name and license details.
  2. Required sum and effective date.
  3. Named originator relationships and coverage declaration, if requested.

Questions about this bond

Are all originators automatically covered?

Do not assume that from the product name. Delaware's form calls for an affirmative company declaration identifying covered employees or exclusive agents.

Is the lender form interchangeable?

The declaration distinguishes licensed lender and mortgage loan broker. Match the requested class and bond instrument.

Where do I apply?

Purchase Now opens Propeller in a new tab. Review, issuance and regulatory delivery are separate; the purchase does not complete licensing.

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