The State of Delaware requires all mortgage lenders to be licensed through the Office of the State Bank Commissioner (SBC). As part of their licensing requirements, lenders must submit and maintain a surety bond with the SBC in the amount of $50,000. Delaware Mortgage Lender Bonds protect the state and any person injured from wrongful acts, default, fraud or misrepresentation, and guarantees that the principal (lender) complies with all provisions of Chapter 24, Title 5 of the Delaware Code. The bond is continuous and remains in full effect until canceled by the surety.
Applications for licenses are handled by the Nationwide Mortgage Licensing System (NMLS), and additional information can be found on the NMLS website – Delaware Licensing Requirements Page. Licensing costs vary per license type and are collected by the NMLS.
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
Surety Bond Name
Mortgage Lender Surety Bonds – Delaware
$50,000Request a Free Quote