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Does A New Hampshire Mortgage Broker Have A Bond Requirement?

A

If you are a Mortgage Broker in New Hampshire you are required to apply for a license through the National Mortgage Licensing System (NMLS) and file a New Hampshire Mortgage Broker Bond in the amount of $50,000 as a condition of licensure . This license is applicable to first mortgage brokering and second mortgage brokering.

License requirements are as follows:

Complete the application and pay the license, NMLS, credit report and background report fees.

Provide the following documents: Financial statements (balance sheet, income statement and statement of cash flows), a business plan, a copy of the business staffing and internal policy manual, examples of loan documents, a management chart, the AML/BSA policy, a Certificate of Authority or Good Standing Certificate, and an organizational chart.

Submit the following directly to the New Hampshire Banking Department: A $50,000 surety bond, the Affirmation Form, the Uniform Consent to Service of Process, the Authorization for Background Check and Release, and explanation for any business transactions prior to licensure.

If applicable, submit the following documents: Other Trade Names registration, any explanations for yes answers on the disclosure questions, formation documents.

How Much Will This Bond Cost?

The premium that you pay for a New Hampshire Mortgage Broker Bond is dependent on credit.

SuretyGroup.com is here to help you with your bonding needs.

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?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday



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