Washington Residential Mortgage Brokers are required to file a Washington Mortgage Broker Bond as a condition of licensure.
Applicants are required to obtain a $20,000 surety bond. The surety bond will be uploaded electronicaly upon completion into the National Mortgage Licensing System (NMLS) ESB system
The following is required for licensure:
Register with Washington Secretary of State and Business License Services
Set up a trust account if holding funds for clients.
Each person in control of the business will need to get fingerprinted (unless the control person already is a licensed mortgage originator).
Complete the application in the National Mortgage Licensing System (NMLS) and pay the applicable fees. Mail any required attachments to the Washington Department of Financial Institutions.
Premium for a Washington Mortgage Broker bond is based 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.
Hours: 8:00-5:00 CST, Monday through Friday