This surety bond is required by the State of Louisiana, Office of Financial Institutions, under LA R.S. 6:1088. The bond is in place to protect anyone who suffers a damage or loss as a result of the residential mortgage lender’s breach of contract or by any violation of law. The required bond amount varies based on the dollar amount of total loan volume in previous calendar years. The exact amounts vary as follows:
(a) $0-$99,999,999—required amount of surety bond is $25,000
(b) $100,000,000 or greater—required bond amount is $50,000
To determine the cost of this bond, complete our easy online application.
To Secure a Louisiana Mortgage Lender Surety Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.