Washington Mortgage Broker Bond

Bond Details

• Washington Mortgage Broker Bond – $20,000 bond – $120 per year
• Washington Mortgage Broker Bond – $40,000 bond – $240 per year
• Washington Mortgage Broker Bond – $60,000 bond – $360 per year

Overview

The Washington State Department requires mortgage brokers of Financial Institutions to obtain a mortgage broker bond as part of the initial licensing process. Existing mortgage brokers will need to maintain a bond in the amount of $20,000, $40,000, or $60,000 depending on the volume of loan originations completed in the preceding calendar year.

This bond serves as a form of financial protection for clients and the state to compensate for any financial harm caused by the broker.