Mississippi Mortgage Brokers are required to apply for a license through the National Mortgage Licensing System (NMLS) and to obtain a Mississippi Mortgage Broker Bond in the amount of $25,000 as a condition of licensure.
Applicants are required to do the following:
Complete the application and pay the FBI Criminal Background Check, license, and NMLS processing fee.
Applicants, directors, officers, and qualifying individuals must be able to pass a criminal background check.
If any questions are answered "yes" on the disclosure statements, provide an explanation for each.
Obtain a $25,000 surety bond from SuretyGroup.com. Branch locations require an additional $25,000 bond. Bonds will be directly uploaded in the NMLS ESB system.
Mortgage brokers must employ at least one loan originator at a licensed location for the company.
Provide an: organizational chart, proof of commercial zoning, a copy of the company policies and procedures, and a business plan.
If a corporation, limited liability company, or partnership, provide copies of formation documents and a Certificate of Good Standing.
Premium for a Mississippi Mortgage Broker License bond is dependent on credit.
We have been underwriting surety bonds for over 35 years, and we offer bonds for individuals and businesses of every size.
Our team of experienced surety specialists and in-house underwriting authority gives us a unique advantage over other surety companies. We are able to offer competitive, low rates, quick approvals and immediate bond delivery. In most cases we can approve your application today and deliver your bond tomorrow.
Have Questions? Our Surety Bond Specialists are ready to assist you with your bonding needs.
Hours: 8:00-5:00 CST, Monday through Friday