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How to Apply for a Mortgage Broker Bond: Requirements and Considerations...
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Mortgage Brokers Have Easy Access to Surety Bonds: Simpler Underwriting, Impaired Credit Programs...
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Mortgage Broker Surety Bond
Mortgage Brokers are required to secure a surety bond to guarantee that they will function per the rules and regulations set forth by the state licensure codes. A Mortgage Broker Bond will also protect consumers against misleading and fraudulent lending practices.The Surety Group offers bond programs at excellent rates with simplified underwriting. Fill out our fast application by clicking the Apply Now button, and we can approve your bond today.
| CLICK BELOW FOR YOUR STATE'S RATES |
BOND AMOUNT |
GET AN ANSWER TODAY |
| Alabama* |
$25,000 |
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| Alaska |
$75,000 |
|
| Arizona |
$10,000 |
|
| Arkansas |
$100,000 |
|
| California |
$50,000 |
|
| Colorado |
$25,000 |
|
| Connecticut* |
$50,000 |
|
| Delaware |
$25,000 |
|
| District Of Columbia |
$12,500 |
|
| Florida |
$10,000 |
|
| Georgia |
$50,000 |
|
| Hawaii |
$15,000 |
|
| Illinois* |
$20,000 |
|
| Indiana |
$100,000 |
|
| Iowa |
$100,000 |
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| Kansas* |
$50,000 |
|
| Kentucky |
$50,000 |
|
| Louisiana* |
$25,000 |
|
| Maine* |
$25,000 |
|
| Maryland* |
$50,000 |
|
| Massachusetts |
$75,000 |
|
| Michigan |
$25,000 |
|
| Minnesota |
$100,000 |
|
| Mississippi |
$25,000 |
|
| Missouri |
$50,000 |
|
| Montana* |
$25,000 |
|
| Nebraska* |
$100,000 |
|
| Nevada* |
$50,000 |
|
| New Hampshire |
$50,000 |
|
| New Jersey* |
$150,000 |
|
| New Mexico* |
$50,000 |
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| North Carolina* |
$75,000 |
|
| North Dakota* |
$25,000 |
|
| Ohio* |
$50,000 |
|
| Oklahoma |
$10,000 |
|
| Oregon* |
$50,000 |
|
| Pennsylvania* |
$50,000 |
|
| Rhode Island* |
$50,000 |
|
| South Carolina |
$25,000 |
|
| South Dakota |
$25,000 |
|
| Tennessee* |
$90,000 |
|
| Texas* |
$50,000 |
|
| Utah* |
$12,500 |
|
| Vermont |
$25,000 |
|
| Virginia |
$25,000 |
|
| Washington* |
$20,000 |
|
| West Virginia |
$50,000 |
|
| Wisconsin |
$120,000 |
|
| Wyoming |
$25,000 |
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*Click state to view additional bond amounts.
**All bonds are written on a two year basis except Wisconsin, Nevada, Missouri which are written on a one year basis.
How to Apply for a Mortgage Broker Surety Bond
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Most states require yearly continuing education and charge a licensing fee.
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Some states require a mortgage broker bond to be posted in order for a broker to qualify for a license.
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Additionally, states require the surety posting the bond to be licensed in that specific state.
Once your application has been approved, you must submit it,
along with your bond, to your state government office..
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