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Surety & Fidelity Bonds for Pennsylvania Mortgage Lenders


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Mortgage lenders engage in the mortgage loan business by directly or indirectly originating and closing mortgage loans with its own funds in the primary market for consideration. They may not close a loan in their own name and may only provide funding for consumers.

Mortgage Lenders have the authority to:

  • Make first and secondary mortgage loans, plus charge and collect interest, origination fees and delinquency charges.
  • Collect fees or premiums for other costs, or fees related to processing a mortgage loan, including costs for title insurance, credit reports, appraisals, notaries and postage.
  • Provide access to credit life, credit disability, credit accident and health, and credit unemployment insurance. Consumers are not required to purchase any of these as a requirement to obtaining a loan.
  • Require property insurance on security against reasonable risks of loss, damage and destruction, and to provide the consumer access to the insurance.
  • Collect a fee for a subsequent dishonored check or instrument taken in payment.
  • Collect reasonable attorney fees and court costs in the collection of a delinquent mortgage loan.

License and Bond Requirements

The Pennsylvania Department of Banking and Securities requires the following for licensing:

  • List DBA's on the NMLS Company Form
  • Provide a certified copy of proof of registration of all trade names
  • Prove a line of credit of no less than $1 million
  • State a qualifying individual, and provide their business address
  • Provide a credit report for individuals who are in a position of control
  • Provide details to disclosure questions
  • Provide financial statements showing a minimum tangible net worth of $250,000
  • Upload a business plan
  • Provide a fidelity bond of $300,000. SuretyGroup.com is licensed in Pennsylvania and can help mortgage lenders fulfill this requirement.
  • Upload certified copies of registration with the Pennsylvania Department of State, Corporations Bureau, plus:
    • The Corporate Charter or Articles of Incorporation (if a corporation)
    • Or
    • The Articles of Organization and Operating Agreement (if a Limited Liability Company)
    • Or
    • A Partnership Agreement (if a partnership)
  • Upload an organizational chart if applicable
  • Complete prelicensing education and pass a written test in order to obtain a license, and participate in annual continuing education programs.
  • Obtain a minimum $100,000 surety bond. A copy of the bond will need to be uploaded into NMLS.
 Bond Amount   Amount of mortgage loan originations 
 $100,000  $29,999,999.99 or less
 $200,000  $300,000,000 - $99,999,999.99
 $300,000  $100,000,000 - $249,999,999.99
 $500,000  $250,000,000 or more

How Much Will This Bond Cost?

The premium that you pay for a Pennsylvania Mortgage Lender Surety & Fidelity Bond is based on credit and the bond amount required. Premiums start at .75% of the bond amount with good credit. Bond amounts over $50,000 will require personal and business financial statements for underwriting purposes.

Did You Know?

A mortgage lender may act as a mortgage broker or mortgage loan correspondent without a separate mortgage broker or mortgage loan correspondent license.

Related Links:

NMLS New Application Checklist for Pennsylvania Mortgage Lender License
Pennsylvania Mortgage Lender License Information

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


For a downloadable application