If you are engaged as a residential mortgage lender operating in Louisiana, you are required under the Louisiana Revised Statutes section 6:1088(G)(2) et. seq. to file a Louisiana Residential Mortgage Lender Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Louisiana Residential Mortgage Lender Bond holds you accountable for your business decisions.
By possessing a Louisiana Residential Mortgage Lender Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.