If you are engaged as a loan originator in Michigan you are required under Public Act 75 of 2009 to file a Michigan Loan Originator Bond as a condition of licensure.
Bonds Express offers a Michigan Loan Originator Bond with a 99% approval rate.
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 Michigan Loan Originator Bond holds you accountable for your business decisions.
By possessing a Michigan Loan Originator Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.