|
|
|
Alabama Onsite Wastewater System Business Must Have Surety Bond: The Alabama Onsite Wastewater Board determines the amount of the bond, which at a minimum, must be $15,000...
Read More
|
|
|
|
Alabama Raises Bond Amount Title Bonds: Alabama HB 179 revises the amount of the bond required to obtain a certificate of title for a vehicle when the owner does not have sufficient documentation of ownership....
Read More
|
|
Alabama Mortgage Broker Surety Bond
Also known as Mortgage Broker Bond, Mortgage Broker Surety Bond, Alabama Mortgage Broker BondDon’t wait for a quote. Your answer is here.
Alabama mortgage brokers are required to carry an Alabama mortgage broker bond. It ensures that a mortgage broker complies with state regulations. Rates are listed below.
The Surety Group has in-house underwriting authority. This enables us to discount bond programs and waive the spousal indemnity and collateral requirements for mortgage brokers. Please call us at 1-800-486-8211 if you have any questions. You will speak directly to an underwriter.
|
PROGRAMS
|
RATES/BOND AMOUNTS
|
REQUIREMENTS
|
I
Spousal Indemnity Waived
No Collateral Required
|
|
*
$370.00 /
$25,000
|
|
*
$464.00 /
$50,000
|
|
*
$694.00 /
$75,000
|
|
-
Minimum Equifax score of 700 for anyone who owns more than 10% of the business
-
5 years of related experience
-
Real estate ownership
-
Minimum DNB of 70
-
Minimum adjusted corporate net worth of $500,000
-
No liens or judgments
|
II
No Collateral Required
|
|
$250.00 /
$25,000
|
|
$500.00 /
$50,000
|
|
$750.00 /
$75,000
|
|
-
Minimum Equifax score of 699 for anyone who owns more than 20% of the business
-
3 years of related experience
-
Real estate ownership
-
No judgments, liens, bankruptcies, bond claims or declines from other sureties
-
Financial statements must exhibit evidence of positive working capital equal to bond amount
|
III
No Collateral Required
|
|
$500.00 /
$25,000
|
|
$1000.00 /
$50,000
|
|
$1500.00 /
$75,000
|
|
-
Minimum Equifax score of 640 for anyone who owns more than 20% of the business
-
3 years of related experience
-
Real estate ownership
-
No judgments, liens, bankruptcies, bond claims or declines by other sureties
-
Financial statements must exhibit evidence of positive working capital equal to bond amount
|
IV
Spousal Indemnity Waived
No Collateral Required
|
|
$1250.00 /
$25,000
|
|
$2500.00 /
$50,000
|
|
$3750.00 /
$75,000
|
|
-
Minimum Equifax score of 500 for anyone who owns more than 10% of the business
-
3 years of related experience
-
Real estate ownership
-
Late payments are acceptable
-
Closed bankruptcies, liens or judgments within the last 10 years are acceptable
-
No unpaid child support, unpaid claims, or government investigations
|
If you do not see a program/plan that fits your needs, we have others available.
Call to learn more.
|
|
|
« Back
|
|