Virginia Mortgage Broker and Lender Bond (Dual License)
The minimum bond amount for a mortgage company with dual authority as both a mortgage lender and mortgage broker shall be $50,000, as outlined in 10VAC5-160-15. The bond amount shall be adjusted annually in accordance with the following scale based upon residential mortgage loans originated during the preceding calendar year:
| Bond Amount Required | Annual Premium | |
| $0- $5,000,000 | $25,000 | $150 |
| $5,000,001- $20,000,000 | $50,000 | $300 |
| $20,000,001-$50,000,000 | $75,000 | $450 |
| $50,000,001-$100,000,000 | $100,000 | $600 |
| over $100,000,000 | $150,000 | $900 |
Overview
Virginia mortgage brokers and lenders can obtain a combined bond to meet their licensing requirements. These bond amounts range between $50,000 to $150,000, depending on the loan volume funded in the preceding calendar year.
The NNA has secured premiums of $6 per $1,000 in liability for all Virginia mortgage brokers to obtain this bond without a credit check.
The Simple Bonding Process
View your price or request a free quote
Discover unbeatable value with coverage options tailored to your needs.
Sign your contract and pay the premium
Seal the deal and ensure protection and peace of mind for your business.
Receive your surety or fidelity bond
Expect a speedy turnaround. Our typical turnaround time is 24 hours or less.
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