Businesses looking to operate as a Mortgage Loan Originator in the State of Colorado are required to file a surety bond with the Colorado Division of Real Estate. The bond amount varies depending on the number of licensees. Below is a breakdown of the bond limits:
- Individual License – $25,000 Bond Amount
- Less Than 20 Licensees – $100,000 Bond Amount
- More Than 20 Licensees – $200,000 Bond Amount
This bond acts as protection from acts of fraud, forgery, criminal impersonation or fraudulent impersonation committed by the Loan Originator while licensed in Colorado. Clients can file bond claims to seek reimbursement due to these acts.
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.