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Delaware bonds

Delaware — Mortgage Lender Bond

Use the Delaware mortgage lender bond route for the licensed lending company in your request. Prepare any originator coverage declaration alongside the company details when instructed.

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Recorded state
Delaware
Bond type
Mortgage Lender / Banker Bond
Category
Financial services

What this bond does

Provide security for the lender obligations in the requested Delaware form.

Who needs it
Delaware lending companies preparing a company bond.
Who it protects
The issued form controls the recipient and protected claims; it does not insure all loan losses.

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.

Keep company and originator records aligned

Delaware's originator coverage form asks the company to choose licensed lender or mortgage loan broker and identify its bond company, number and principal sum. It also asks for the covered originators' NMLS and employment information.

Have those relationships ready when coverage is requested. A representative's declaration is not the same as the provider issuing and delivering the bond.

Sources

Have these ready

  1. Lender company name and license request.
  2. Required security sum and effective date.
  3. Originator list and representative details where requested.

Questions about this bond

Is this a loan officer's individual application?

This offering identifies the lending company. Keep any individual licensing and company coverage declarations separately identified.

Can I use the broker offering?

Match the licensed lender class in your instructions rather than selecting the broker route by similarity.

What happens at Purchase Now?

Propeller opens in a new tab for the bond application. Issuance, execution and required filing come separately from the licensing decision.

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