Massachusetts Mortgage Broker Bonds

Massachusetts has a $75,000 MA Mortgage Broker Bond requirement, which is to be filed with the Treasurer and Receiver-General of the Commonwealth of Massachusetts. 

All MA Mortgage Broker bonds must have an annual premium date of 12/31 through 12/31 of the next year.  Upon renewal, Mortgage Brokers must provide additional information from the surety Bond Company for proof that the bond is paid through 12/31 of the next calendar year.

Along with the $75,000 MD Mortgage Broker Surety Bond, applicants applying for this license are required to have at least 3 years experience in this business, and have a minimum net worth of $25,000.

In Massachusetts, any person or company who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans on residential property for others, is defined as a Mortgage Broker.

Applicants who are also applying for a Massachusetts Mortgage Lender license, must also obtain the $100,000 Mortgage Lender Surety Bond.  See our MA Mortgage Lender page for more details.  Our friendly staff is always available to answer any questions you may have about surety bonding.