If you are engaged a mortgage lender in Massachusetts you are required under 209 CMR 42 et. seq. to file a Massachusetts Mortgage Lender Bond as a condition of licensure.
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 Massachusetts Mortgage Lender Bond holds you accountable for your business decisions.
By possessing a Massachusetts Mortgage Lender Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.