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Virginia bonds

Virginia — Mortgage Broker (NMLS) Bond

Preparing a Virginia mortgage broker bond? Use the brokerage business's details and broker request, keeping funding activities separate if your company also lends.

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Recorded state
Virginia
Bond type
Mortgage Broker Bond
Category
Financial services

What this bond does

Secure the brokerage duties identified in your Virginia licensing bond form.

Who needs it
Virginia mortgage broker businesses with a bond request.
Who it protects
The form names the recipient and protected claims. It does not approve financing or insure every transaction the broker arranges.

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.

Check the requested business capacity

Broker-only, lender-only and combined broker/lender application routes are available. Use the capacity in your request rather than buying by the closest name.

Prepare the amount and effective date from the broker instructions. Follow their filing method after issuance; where electronic bonds apply, the company must complete its execution and delivery tasks.

Sources

Have these ready

  1. Broker company name and NMLS ID.
  2. Broker request and description of any lending.
  3. Required recipient, amount and start date.

Questions about this bond

Do I need the combined route?

Use it when your requested instrument names both broker and lender duties. A broker-only request should remain matched to its own form.

How do I apply through The Southern Agency?

Purchase Now opens Propeller in a new tab. Complete its application before issuance and the later regulatory filing.

Does the bond license my loan officers?

Purchasing this company bond does not grant individual originator authority. Follow the applicable individual licensing instructions separately.

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