Those engaged as Residential Mortgage Lender or Servicer in California are required to execute a California Residential Mortgage Lender and/or Servicer Bond in the amount of $50,000 to ensure compliance with Section 996.320 of the California Financial Code.
Bonds Express offers a California Residential Mortgage Lender Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The California Residential Mortgage Lender Bond holds you accountable for your business decisions.
By possessing a California Residential Mortgage Lender Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.