Maryland Mortgage Lender Bonds

Maryland has a MD Mortgage Lender Surety Bond requirement, regulated by the Division of Financial Regulation. The amount (penalty) of the MD Mortgage Lender bond depends on the volume of the licensee’s mortgage business in the preceding 12 months.  

$50,000 MD Mortgage Lender Bond: Required where the aggregate principal amount of mortgage loans is $3,000,000 or less for the preceding twelve (12) months;
$100,000 MD Mortgage Lender Bond: Required where the aggregate principal amount of mortgage loans is more than $3,000,000 but not more than $10,000,000 for the preceding (12) months;
$150,000 MD Mortgage Lender Bond: Required where the aggregate principal amount of mortgage loans is more than $10,000,000 for the preceding twelve (12) months;
$750,000 MD Mortgage Lender Bond: Required blanket surety bond when an applicant files five (5) or more original or renewal applications at the same time and chooses to submit a blanket bond.

The MD Mortgage Lender licensee is required to provide the state’s prescribed continuous surety bond form furnished by a surety company authorized to do business in the State of Maryland.  For more information, go to http://www.dllr.maryland.gov/license/fin_reg/mortlend/mortlendlaws2008.doc. Or, feel free to call Ameribonds Surety at (618) 242-7800 or toll free (800) 995-0997 for more information about this bond or other surety bonds. You may also complete an online application to request a bond.