California Mortgage Broker
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Bond selected
California Mortgage Broker
Amount
$25,000.00
Obligee
California Department Of Corporation
Minimum premium
$250.00
Description
A California mortgage broker bond is a type of surety bond that is required by the California Department of Business Oversight (DBO) for individuals or companies seeking to obtain a mortgage broker license in the state of California. The bond serves as a form of protection for consumers in case the broker engages in fraudulent or unethical practices during the mortgage application process. In the event of such misconduct, the bond provides financial compensation to affected parties up to the bond's specified limit. The bond amount is determined based on the mortgage broker's loan volume, and it must be renewed annually.
Secure. Compliant. Built for trust.
