Mortgage Bankers Bond (Fidelity Bond and E&O)
The Mortgage Bankers Bond combines the Fidelity Bond and Mortgagee’s Errors & Omissions (E&O) protection required by Fannie Mae, Freddie Mac, Ginnie Mae and other secondary market investors, and warehouse lenders. Aggregate limits available up to $50,000,000. Double aggregate limits are also available for certain insuring agreements.
Endorsed by the Mortgage Bankers Association (MBA), Lenders One, and various state MBAs, the Mortgage Bankers Bond is offered exclusively through Bankers Insurance Service.
In the decades since the first MBB certificate was issued, the product has evolved significantly to address additional exposures that mortgage bankers face. Recent amendments include enhancement of our Forgery and Fraudulent Alteration coverage to better cover today’s digital lending exposures. The policy’s coverage for loan repurchase scenarios involving employee dishonesty has also been enhanced.