Nebraska Mortgage Loan Originator Bonds
Mortgage loan originators must register and be covered by a surety bond. Through this new law the previous bond requirement for mortgage bankers will now need to provide coverage for all originators that the banker employs or that are independent agents of the banker. Under prior law the bond amount was $100,000. The new changes will consist of the bond amount being based on the total dollar amount of the closed residential mortgage loans originated in the state. There must be a base of $100,000 and a maximum of $200,000. This new law became effective upon enactment.