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Virginia bonds

Virginia — Mortgage Broker And Lender NMLS Bond

When your Virginia bond request names both mortgage brokering and lending, use this combined broker/lender route. Prepare the company details for arranging and funding loans.

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Recorded state
Virginia
Bond type
Mortgage Broker / Lender Bond
Category
Financial services

What this bond does

Provide security for the broker and lender duties in the requested Virginia bond.

Who needs it
Businesses matching a Virginia combined mortgage broker/lender request.
Who it protects
The form defines the licensing recipient and qualifying claims; the bond does not insure the company's loan portfolio.

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 both capacities in the application

Describe loans arranged for other lenders as well as loans funded by your company. The combined title is useful when both roles appear in the request; separate broker-only and lender-only offerings remain available.

Use the combined request's amount and effective period. If NMLS electronic filing applies, company execution and delivery follow surety preparation.

Sources

Have these ready

  1. Company name and NMLS ID.
  2. Combined broker/lender request and activities.
  3. Requested sum, recipient and effective date.

Questions about this bond

Does the title include servicing?

It names brokering and lending. Disclose servicing separately and match the form to your actual instructions.

How do I start?

Purchase Now opens Propeller in a new tab for the bond application. Issuance and licensing delivery follow; purchase does not approve the license.

Should I select two separate products?

Follow the actual requested instrument. A combined request should be matched as such rather than assumed to require two purchases.

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