Texas Residential Mortgage Loan Servicer Bond

Bond Details

• TX Residential Mortgage Loan Servicer Bond – $25,000 bond – $150 per year
• TX Residential Mortgage Loan Servicer Bond – $50,000 bond – $300 per year

Overview

The Department of Savings and Mortgage Lending requires Texas residential mortgage loan servicers to secure a residential mortgage loan servicer bond with a bond amount of $25,000 or $50,000, depending on serviced volume.

This bond serves as financial protection for clients and the state in case the residential mortgage loan servicer causes financial harm to a customer. The bonding company issuing the bond usually evaluates the servicer's financial history and creditworthiness. The NNA has secured a flat rate of $6 per $1,000 in liability for all Texas residential mortgage loan servicers without a credit check.