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Oregon bonds

Oregon — Mortgage Lender - NMLS Bond

Oregon directs new mortgage lender companies to submit an NMLS electronic bond of at least $50,000. Prepare the company's details and distinguish a new application from a renewal.

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

What this bond does

Provide the company security requested by Oregon's Division of Financial Regulation for mortgage lending.

Who needs it
Mortgage lending companies preparing Oregon license security.
Who it protects
Use the Oregon lender form's named recipient and conditions; it does not insure every mortgage loss.

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 company and trust-account information

Oregon's guidance distinguishes businesses accepting refundable funds before escrow closes from those that do not. Prepare the applicable trust-account notice or no-account undertaking for the license application, separately from the bond.

The published $50,000 minimum is for a brand-new licensee. Renewal security follows Oregon's scale. For the ESB, surety preparation is followed by company execution and delivery tasks.

Sources

Have these ready

  1. Company name and NMLS ID.
  2. New-license or renewal request and required sum.
  3. Refundable-fund handling and effective date.

Questions about this bond

Is $50,000 always enough at renewal?

No. Oregon's page identifies that minimum for brand-new licensees and directs renewal amounts to the applicable scale.

Does the company bond license my originators?

Oregon says originators must also be individually licensed and sponsored. Company security does not grant those licenses.

How do I apply?

Purchase Now opens Propeller in a new tab. Issuance and company NMLS execution and delivery follow; purchasing does not approve the license.

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