Massachusetts Mortgage Lender Bond
Mortgage lenders in Massachusetts are required to post a surety bond ranging from $100,000 to $500,000 as a condition of licensure based on the volume of closed residential loans.
| MA Loan Volume in Preceding 12 Months | Bond Amount Required | Annual Premium |
| $0- $49,999,999 | $100,000 | $600 |
| $50,000,000- $249,999,999 | $250,000 | $1,500 |
| Exceeds $250,000,000 | $500,000 | $3,000 |
Overview
Mortgage lenders in Massachusetts are required to post a surety bond ranging from $100,000 to $500,000 as a condition of licensure based on the volume of closed residential loans. For companies with > $250M in funded volume, the bond requirement is $500,000. For lenders with volume > $50M but less than $250M, the bond requirement is $250,000. For lenders with volume less than $50M, the bond requirement is $100,000.
The NNA has secured a flat rate of $6 per $1,000 liability premium for all Massachusetts mortgage lenders to obtain this bond without a credit check. This bond meets the licensing requirements for Massachusetts mortgage lenders and lasts for one year.