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West Virginia Mortgage Broker Bond License Requirements

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West Virginia Mortgage Brokers and Lenders are required to obtain a West Virginia Surety Bond as a condition of licensure. Pre-requisites for licensure include: a minimum net worth of $10,000, the ability to pass a criminal background and credit check, passage of pre-license education testing.

Applicants must complete the application through the National Mortgage Licensing System (NMLS) and pay the applicable license and NMLS processing fees. An additional fee for a criminal and credit background check is required made payable directly to West Virginia Department of Financial Institutions.

Provide copies of financial statements including a Balance Sheet, Income Statement, and Statement of Cash Flows along with any relevant notes (if available also submit the previous two fiscal year statements). If the company is a new business, submit an initial Statement of Condition.

Obtain the required surety bond from SuretyGroup.com. Bond amounts range from a minimum of $50,000 to $150,000 based on loan origination volume written in one year.

Applicants that will be using a trade or dba name must first file the name with the West Virginia Secretary of State and the Division of Financial Institutions.

An on-site manager is required for all locations where business is conducted with consumers.

If the applicant is a partnership, corporation or limited liability company, provide a certified copy of formation documents and obtain a Certificate of Authorization or Certificate of Good Standing from the West Virginia Secretary of State.

Obtain a Credit Service Organization certificate from the West Virginia Secretary of State. If exempt, provide an explanation for the exemption.

Obtain a Business Registration from the West Virginia Department of Revenue.

Submit two sets of fingerprint cards for each principal. The cards must be completed on both the front and back sides. The cards and return mailing information can be obtained from idebruyn@wvdob.org.

If mortgage loan originators will be employed, complete the Mortgage Loan Originator License application, otherwise state the reason in the notes section as why the application is not required.

Complete the Certificate of Compliance by Executive Director.


Premium for a West Virginia Mortgage Broker License bond is dependent on credit and the bond amount required. Bond amounts over $50,000 will require business and/or personal financial statements.


SuretyGroup.com is here to help you with your bonding needs.

We have been underwriting surety bonds for over 35 years, and we offer bonds for individuals and businesses of every size.

Our team of experienced surety specialists and in-house underwriting authority gives us a unique advantage over other surety companies. We are able to offer competitive, low rates, quick approvals and immediate bond delivery. In most cases we can approve your application today and deliver your bond tomorrow.

Have Questions?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday



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