New Hampshire Mortgage Broker, Banker or Servicer Bonds
If you are a mortgage broker in New Hampshire, you are required by the New Hampshire Banking Department to apply for a license through the National Mortgage Licensing System (NMLS) and file a New Hampshire mortgage broker, banker or servicer surety bond as a condition of licensure. This license is applicable to first mortgage brokering and second mortgage brokering.
Surety Bond and License Requirements:
- Complete the application and pay the license, NMLS, credit report and background report fees.
- Obtain a $50,000 for a Mortgage Broker Surety Bond license
- Obtain a $100,000 for a Mortgage Banker Surety Bond license
- Obtain a $100,000 for a Mortgage Servicer Surety Bond license
- 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: the 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, Banker or Servicer Surety Bond is dependent on credit and the bond amount required. Premiums start at .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
Related LInks:New Hampshire Mortgage License InformationNew Hampshire NMLS Mortgage Broker License InformationNew Hampshire NMLS Mortgage Banker License InformationNew Hampshire NMLS Mortgage Servicer License Information
More Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
For a downloadable application