# Mortgage bonds: company and originator The bond piece for both the company and the individuals it employs. ## What you will learn - How company bond amounts are typically scaled - When an originator-level bond shows up - How underwriting changes for newer companies ## Company bonds scale with volume Most states size the mortgage company [[term:surety-bond]] by the company's loan-origination volume in the state, often in tiers. As volume grows the company's bond face amount tends to step up at the next renewal. ## Originator-level bonds A handful of states require an originator-level bond separate from the company bond. Most do not. Where they do, the [[term:nmls]] filing surfaces the requirement during the application. ## Underwriting on newer companies Surety underwriting on a new mortgage company leans heavily on the [[term:control-person]] credit and the company's projected volume. As the company builds a track record the underwriting question shifts toward financial statements and loss history. The estimator below sizes the company-side bond portfolio at a glance: pick the mortgage bond type, your target states, and a credit range. [[tool:bond-cost-estimator]]