Vermont Mortgage Loan Servicer Bond
The Department of Financial Regulation requires a licensed loan servicer to maintain a surety bond in a minimum amount of $100,000, or such sum as the commissioner may require.
| Bond Amount Required | Bond Amount Required | |
| All licensees | $100,000 | $600 |
Overview
The Department of Financial Regulation requires loan servicers to obtain a $100,000 loan servicer bond as part of the licensing process. This bond serves as financial protection for clients and the state in the event that the loan servicer engages in unethical or unlawful activities. The bonding company issuing the bond usually assesses the servicer's financial history and creditworthiness.
The NNA has secured a $600 flat rate for all Vermont loan servicers without a credit check.