Vermont Mortgage Lender Bond
The Department of Financial Regulation requires mortgage lenders to maintain a surety bond in an amount ranging from $50,000- $150,000 as part of the licensing process. The amount of the bond required varies according to annual origination volume according to the chart below:
| Annual Origination Volume | Bond Amount Required | Annual Premium |
| $0- $1,000,000 | $50,000 | $300 |
| $1,000,001- $15,000,000 | $100,000 | $600 |
| $15,000,001+ | $150,000 | $900 |
Overview
The Department of Financial Regulation requires mortgage brokers to maintain a surety bond in an amount ranging from $25,000-$150,000 as part of the licensing process. This bond protects clients and the state financially if the licensee's activity causes financial harm.
The NNA has secured a premium of $6 per $1,000 in bond liability for all mortgage lenders in Vermont without a credit check.
Special note about "Other Trade Name (OTN)": Vermont Mortgage Lender Licensees are prohibited from using more than one other trade name for each license obtained. Therefore, please be advised that applicants must hold a Mortgage Lender License - Other Trade Name (and separate bond) for each other trade name that will be used at the branch.