Who Needs an OR Mortgage Broker Bond?
In Oregon, mortgage brokers are required to obtain a surety bond to operate legally. This bond serves as a guarantee that the broker will abide by all applicable laws and regulations.
The OR mortgage broker bond protects consumers from any financial harm or loss caused by the broker's misconduct or negligence.
Obtaining the OR Mortgage Broker Bond
To obtain the required surety bond, mortgage brokers in Oregon must work with a licensed surety bond provider. The bond amount and premium may vary depending on the broker's financial standing and other factors.
Maintaining a valid OR mortgage broker bond is crucial for mortgage brokers to continue their operations in the state.
