Virginia exempt company registration bonds.
From $150.

A company exempt from Virginia’s mortgage lender and broker licensing that employs licensed mortgage loan originators registers with the Bureau of Financial Institutions and files this bond covering them. The bond starts at $25,000 and rises with last year’s loan volume. The premium is 0.6% of the bond amount, $150 at the $25,000 minimum.

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Required by Va. Code § 6.2-1703 of a company exempt under Chapter 16 whose employees hold or apply for MLO licenses

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Amount set by 10VAC5-161-50 — $25,000 up to $150,000, by the prior calendar year’s loan volume

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A soft credit check may apply — never a hard inquiry, no impact on your score

A-ratedA.M. Best carriersSoft pull onlynever a hard inquiry1–3 yrterms available

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How it works

Three steps, one filing.

The bond is one attachment to your NMLS company filing. Here is the whole thing:

NOW · ONLINE

Apply online

Company details, the bond amount your volume tier requires, and an effective date. The only extra step is a one-time consent to a soft credit pull.

RIGHT AWAY

Underwritten & issued

Most are approved as soon as you apply. The credit check is a soft pull that never affects your score. If it needs a second look, one to two business days at most.

SAME DAY

File with the Bureau

Your executed bond on form CCB-8813 and the power of attorney arrive by email, ready to upload to NMLS or mail to the Bureau of Financial Institutions. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the exempt company registration bond actually guarantees

Virginia licenses mortgage loan originators individually. When an originator works for a company that is itself exempt from the mortgage lender/broker license in Chapter 16 of Title 6.2, the bond is not filed by the originator — it is filed by the employer, covering every originator it employs. Registering that exempt company with the Bureau of Financial Institutions is how the arrangement is recorded.

It is a three-party arrangement: the company (the principal), the surety carrier, and the Commonwealth of Virginia, payable to the State Corporation Commission (the obligee). The bond answers for the originators’ conduct under the mortgage-originator statutes; if the surety pays a claim, the company repays the surety — this is not insurance for you.

The amount is not a single figure. 10VAC5-161-50 sets it against the residential mortgage loans originated in the preceding calendar year, and the Bureau sets and adjusts it annually: $25,000 at the bottom, rising to $150,000 over $100,000,000 of volume. A company with no prior-year volume sits at the $25,000 floor. Confirm the figure the Bureau assigns you before you file.

Va. Code § 6.2-1703 • 10VAC5-161-50 • SCC form CCB-8813Va. Code § 6.2-1703 requires a bond with the license application, and under subdivision A 2, “If the applicant is an employee or exclusive agent of a person licensed or exempt from licensing under Chapter 16 (§ 6.2-1600 et seq.), the bond shall be a surety bond filed by such person covering all such employees and exclusive agents holding or applying for a license as a mortgage loan originator.” Subsection B sets the amount: “The amount of the bond shall be $25,000, or such greater sum as the Commission may require based on the total dollar amount of residential mortgage loans originated in the preceding calendar year.” 10VAC5-161-50 supplies the scale — $25,000 for $0–$5,000,000 of prior-year originations, then $50,000, $75,000, $100,000 and $150,000 over $100,000,000. The Commission’s form CCB-8813 binds the principal and surety “unto the Commonwealth of Virginia” and is payable to the State Corporation Commission. Confirm the amount the Bureau assigns you before filing.

You need this bond if you are

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A company exempt from Chapter 16 licensing that employs or sponsors Virginia-licensed mortgage loan originators

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Filing an exempt company registration with the SCC Bureau of Financial Institutions through NMLS

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Moving up a volume tier after a year of higher residential mortgage loan originations

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Replacing a bond the Bureau has asked you to increase at its annual adjustment

One application, one soft pull.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.

Start the application →

FAQ

Common questions.

How much does the Virginia exempt company registration bond cost?The premium is 0.6% of the bond amount. Because the statutory minimum bond is $25,000, the lowest premium is $150; a $50,000 bond is $300 and the top $150,000 tier is $900.

Which bond amount do I need?10VAC5-161-50 sets it by your prior calendar year’s residential mortgage loan originations: $0–$5,000,000 is a $25,000 bond, $5,000,001–$20,000,000 is $50,000, $20,000,001–$50,000,000 is $75,000, $50,000,001–$100,000,000 is $100,000, and over $100,000,000 is $150,000. The Bureau sets and adjusts the figure annually — use the amount it assigns you.

Do I pay the bond amount?No. You pay the premium — 0.6% of the amount. The bond amount is the surety’s maximum liability to the Commonwealth if a valid claim is made; it is not a deposit and nobody holds your money.

Is there a credit check?Yes — a quick soft credit check may apply, and it never affects your score. It informs approval, not price; the rate stays 0.6% either way. The application also asks for the applicant’s Social Security number.

Why does my company need a bond if it is exempt from licensing?The exemption is from the mortgage lender/broker license in Chapter 16. The bond comes from the mortgage loan originator statute, § 6.2-1703, which makes the employer file one bond covering all of the originators it employs or sponsors — exempt or not.

What form does the Commission use?Form CCB-8813, "Surety Bond Pursuant to §§ 6.2-1604 and 6.2-1703 of the Code of Virginia," issued by the State Corporation Commission, Bureau of Financial Institutions. Your executed bond arrives on that form.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

Related bonds

Other Virginia bonds.

File your exempt company registration bond.

0.6% of the bond amount, from $150 at the $25,000 statutory minimum. Soft pull only, never a hard inquiry.

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Your premiumfrom $150

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