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DFR distinguishes residential mortgage servicing from merely arranging a loan. Its guidance includes receiving scheduled borrower and escrow payments, remitting amounts to the loan owner or another party, and making borrower payments on reverse mortgages. Main-office and branch licensing remain separate; an out-of-state office servicing Vermont residential mortgage loans can also need a license.

Section2903 requires $100,000 or the sum the Commissioner requires, maintained while the license is effective. The Commissioner may accept one bond for multiple licensed offices and may approve a waiver, modification or alternative; these are not automatic choices for the applicant. The statute caps aggregate liability and requires at least sixty days' prior cancellation notice. The published form preserves prior liability and requires the surety to notify the Commissioner within five business days of receiving claim notice, or upon making a payment. Recovery requires new security; a written additional-bond demand under Section2907 has a ten-day deadline.

Purchase Now opens Propeller's Vermont Loan Servicer NMLS application in a new tab. Bring the legal licensee, NMLS identifier, relevant offices and DFR request. Match the accepted instrument, required amount, dates and any approved multi-office arrangement before paying. Arrange execution and accepted filing with the Commissioner, confirm receipt, complete the separate NMLS company and branch applications or amendments and retain approval. The NMLS label does not establish that purchase alone files the bond electronically or grants the license.