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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 161. Mortgage Loan Originators
11/21/2024

10VAC5-161-50. Surety bond amount.

The surety bond amount required to be filed and maintained by or on behalf of the licensee shall be set and adjusted as necessary annually by the bureau in accordance with the following scale based upon residential mortgage loans originated during the preceding calendar year:

LOANS

BOND AMOUNT

$0 - $5,000,000

$25,000

$5,000,001 - $20,000,000

$50,000

$20,000,001 - $50,000,000

$75,000

$50,000,001 - $100,000,000

$100,000

over $100,000,000

$150,000

Statutory Authority

§ 6.2-1720 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 25, Issue 25, eff. August 17, 2009.

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