California Residential Mortgage Lending Act (RMLA) Bond
Bond Details
- CA Residential Mortgage Lending Act Bond – $50,000 bond – $300 per year
- CA Residential Mortgage Lending Act Bond – $100,000 bond – $600 per year
- CA Residential Mortgage Lending Act Bond – $200,000 bond – $1,200 per year
Overview
California mortgage lender bonds are required for those who have RMLA licenses. Regulated by the State of California, the minimum bond requirement for a residential mortgage lender bond is $50,000, but it can be higher depending on volume.
The NNA has secured premiums of $6 per $1,000 in liability amount for California mortgage lenders to obtain this bond. No credit check or financials needed up to $1M in aggregate bonds.
RMLA Cost Table
| Liability Amount | Premium Cost per year |
| $50,000 | $300 |
| $100,000 | $600 |
| $200,000 | $1,200 |