Washington Regulated Loan/Consumer Loan Company Surety Bond

Bond Details

WA Consumer Loan Company Bond – $30,000 liability – $180 premium per year

WA Consumer Loan Company Bond – $50,000 liability – $300 premium per year

WA Consumer Loan Company Bond – $100,000 liability – $600 premium per year

WA Consumer Loan Company Bond – $150,000 liability – $900 premium per year

Overview

All consumer loan licensees conducting origination, lending, or student loan servicing activities are required to have a surety bond issued in the Nationwide Mortgage Licensing System (NMLS). The amount of the bond varies by activity and ranges between $30,000 and $150,000. The NNA has secured premiums of $6 per $1,000 in liability for all Washington mortgage brokers to obtain this bond without a credit check.