Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 161 - MORTGAGE LOAN ORIGINATORS
Section 10VAC5-161-50 - Surety bond amount
Universal Citation: 0 VA Admin Code 5-161-50
Current through Register Vol. 41, No. 3, September 23, 2024
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.
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