Montana Mortgage Lender Bond

Bond Details

• Montana Mortgage Lender Bond – $25,000 bond – $150 per year
• Montana Mortgage Lender Bond – $50,000 bond – $300 per year
• Montana Mortgage Lender Bond – $100,000 bond – $600 per year

Overview

Montana mandates mortgage lenders to post a surety bond as part of their licensing process through the Montana Division of Banking and Financial Institutions. The bond serves as a financial safeguard for consumers who engage with the services of the mortgage lender.

The bond amount is determined based on factors like the lender's loan volume and financial stability, with minimum amounts ranging from $25,000 to $100,000. It's essential for mortgage lenders to maintain an active and valid bond throughout their licensing tenure.

No credit check or financials needed up to $1M in aggregate bonds. Your bond premium (your cost) is $6 per $1,000 of the bond amount.