Loan Broker Surety Bond

A Loan Broker Surety Bond is a license and permit surety bond required by certain government jurisdictions. A Loan Broker is any person who, in return for consideration, procures, attempts to procure, or assists in procuring a loan from a third party or any other person, whether or not the person seeking the loan actually obtains the loan. The bond protects the consumer against dishonest lending practices by the loan broker that result in financial losses or loans that the consumer cannot afford.