Mortgage Broker Bond
Applying for a Mortgage Broker bond or any mortgage Bond is like applying for a unsecured loan. The Surety will review credit and financials to make sure you can pay back the surety if a claim arises. (Don't worry we have a program if you do not meet the normal Surety Company standards)
There are many different types of Surety Bonds for the mortgage industry there are Mortgage Broker Bonds, Mortgage Banker Bonds even Correspondent Lender Bonds. These Bonds are usually required by the Department of Banking. Please check with your state for who your obligee is and the Mortgage bond amount. Each state has their own requirements as well as different bond forms.
The Mortgage Broker Bond must be obtained before you can get your Mortgage Broker license. The bond is to protect the consumer against wrongful acts made by the Mortgage company or loan officer please check the Mortgage Broker Bond form and state laws for details. Usually each State has a different Surety bond amount for example in Florida Mortgage Broker Bonds are in the amount of $10,000 and Texas Mortgage Broker Bonds are for $50,000. Some states require the Mortgage Broker Bond term to be for one year and renewed annually other states like Texas require the $50,000 Mortgage Broker Bond run for a 2 year Mortgage Broker Bond Term. We have designed strong programs to help accommodate your broker needs our programs are nationwide without the procurement of collateral. We can also offer fidelity bonds for mortgage brokers that may need it meet a lending requirement
| State | Surety Bond | Bond Amount | Obligee | Bond Form | More info |
|---|---|---|---|---|---|
| Alabama | Mortgage Broker Bond | $25,000.00 | State Of Alabama | Alabama Mortgage Broker Bond Form | Alabama Mortgage Broker Bond |
| Alaska | Mortgage Broker Bond | $25,000.00 | State Of Alaska Department Of Commerce Community And Economic Develoment | Alaska Mortgage Broker Bond Form | Alaska Mortgage Broker Bond |
| Arizona | Mortgage Broker Bond | $15,000.00 | Arizona Department Of Financial Institutions | Arizona Mortgage Broker Bond | |
| Arkansas | Mortgage Broker Bond | $25,000.00 | State Of Arkansas Securities Department | Arkansas Mortgage Broker Bond Form | Arkansas Mortgage Broker Bond |
| California | Mortgage Broker Bond | $25,000.00 | California Department Of Corporation | California Mortgage Broker Bond Form | California Mortgage Broker Bond |
| Colorado | Mortgage Broker Bond | $25,000.00 | State Of Colorado Division Of Real Estate | Colorado Mortgage Broker Bond Form | Colorado Mortgage Broker Bond |
| Connecticut | Mortgage Broker Bond | $40,000.00 | Commissioner Of Banking Of The State Of Connecticut | Connecticut Mortgage Broker Bond Form | Connecticut Mortgage Broker Bond |
| DC | Mortgage Broker Bond | $10,000.00 | District Of Columbia Department Of Ins Securities And Banking | DC Mortgage Broker Bond Form | DC Mortgage Broker Bond |
| Delaware | Mortgage Broker Bond | $25,000.00 | Office Of State Bank Commissioner Department | Delaware Mortgage Broker Bond Form | Delaware Mortgage Broker Bond |
| Florida | Mortgage Broker Bond | $10,000.00 | State Of Florida Office Of Financial Regulation | Florida Mortgage Broker Bond Form | Florida Mortgage Broker Bond |
| Georgia | Mortgage Broker Bond | $150,000.00 | Georgia Department Of Banking And Finance | Georgia Mortgage Broker Bond Form | Georgia Mortgage Broker Bond |
| Hawaii | Mortgage Broker Bond | $15,000.00 | Hawaii Department Of Commerce And Consumer Affairs | Hawaii Mortgage Broker Bond Form | Hawaii Mortgage Broker Bond |
| Iowa | Mortgage Broker Bond | $5,000.00 | Ia Superintendent Of Banking | Iowa Mortgage Broker Bond Form | Iowa Mortgage Broker Bond |
| Kansas | Mortgage Broker Bond | $10,000.00 | State Of Florida Office Of Financial Regulation | Kansas Mortgage Broker Bond | |
| Kentucky | Mortgage Broker Bond | $25,000.00 | The Executive Director Office Of Financial Institutions Commonwealth Of Kentucky | Kentucky Mortgage Broker Bond Form | Kentucky Mortgage Broker Bond |
| Louisiana | Mortgage Broker Bond | $50,000.00 | Louisiana Office Of Financial Institutions | Louisiana Mortgage Broker Bond Form | Louisiana Mortgage Broker Bond |
| Maine | Mortgage Broker Bond | $50,000.00 | Superintendent Of The Bureau Of Consumer Protection Of The State Of Maine | Maine Mortgage Broker Bond Form | Maine Mortgage Broker Bond |
| Maryland | Mortgage Broker Bond | Maryland Commissioner Of Financial Regulation | Maryland Mortgage Broker Bond Form | Maryland Mortgage Broker Bond | |
| Massachusetts | Mortgage Broker Bond | $75,000.00 | Commonwealth Of Massachusetts Commissioner Of Banks | Massachusetts Mortgage Broker Bond Form | Massachusetts Mortgage Broker Bond |
| Michigan | Mortgage Broker Bond | $25,000.00 | Michigan Office Of Financial | Michigan Mortgage Broker Bond Form | Michigan Mortgage Broker Bond |
| Minnesota | Mortgage Broker Bond | $125,000.00 | Department Of Commerce Of The State Of Minnesota | Minnesota Mortgage Broker Bond | |
| Mississippi | Mortgage Broker Bond | $25,000.00 | Mississippi Sept Of Banking And Consumer Finance | Mississippi Mortgage Broker Bond Form | Mississippi Mortgage Broker Bond |
| Missouri | Mortgage Broker Bond | $50,000.00 | Commissioner Of Finance For The State Of Missouri | Missouri Mortgage Broker Bond Form | Missouri Mortgage Broker Bond |
| Montana | Mortgage Broker Bond | $25,000.00 | Montana Division Of Banking And Financial Institutions | Montana Mortgage Broker Bond Form | Montana Mortgage Broker Bond |
| Nebraska | Mortgage Broker Bond | $50,000.00 | Director Of The Nebraska Department Of Banking And Finance | Nebraska Mortgage Broker Bond | |
| Nevada | Mortgage Broker Bond | $50,000.00 | Nevada Department Of Business And Industry | Nevada Mortgage Broker Bond | |
| New Hampshire | Mortgage Broker Bond | $50,000.00 | New Hampshire Department Of Banking | New Hampshire Mortgage Broker Bond Form | New Hampshire Mortgage Broker Bond |
| New Jersey | Mortgage Broker Bond | $150,000.00 | New Jersey Commissioner Of Banking & Insurance | New Jersey Mortgage Broker Bond Form | New Jersey Mortgage Broker Bond |
| New Mexico | Mortgage Broker Bond | $10,000.00 | New Mexico Regulation And Licensing Department | New Mexico Mortgage Broker Bond Form | New Mexico Mortgage Broker Bond |
| New York | Mortgage Broker Bond | $10,000.00 | New York Department Of Banking | New York Mortgage Broker Bond Form | New York Mortgage Broker Bond |
| North Carolina | Mortgage Broker Bond | $15,000.00 | Commissioner Of Banks | North Carolina Mortgage Broker Bond | |
| Ohio | Mortgage Broker Bond | $50000 | State Of Ohio Division Of Financial Institutions | Ohio Mortgage Broker Bond Form | Ohio Mortgage Broker Bond |
| Oklahoma | Mortgage Broker Bond | $5,000.00 | Administrator Of The Department Of Consumer Credit Of The State Of Oklahoma | Oklahoma Mortgage Broker Bond | |
| Oregon | Mortgage Broker Bond | $75,000.00 | Department Of Consumer & Business Services | Oregon Mortgage Broker Bond | |
| Rhode Island | Mortgage Broker Bond | $20,000.00 | Rhode Island Division Of Banking | Rhode Island Mortgage Broker Bond | |
| South Carolina | Mortgage Broker Bond | $50,000.00 | South Carolina Consumer Finance Division | South Carolina Mortgage Broker Bond Form | South Carolina Mortgage Broker Bond |
| South Dakota | Mortgage Broker Bond | $25,000.00 | South Dakota Division Of Banking | South Dakota Mortgage Broker Bond | |
| South Dakota | Mortgage Broker Bond | $25,000.00 | South Dakota Division Of Banking | South Dakota Mortgage Broker Bond Form | South Dakota Mortgage Broker Bond |
| South Dakota | Mortgage Lender Bond | $25,000.00 | South Dakota Division Of Banking | South Dakota Mortgage Lender Bond Form | South Dakota Mortgage Lender Bond |
| Tennessee | Mortgage Broker Bond | $35,000.00 | Commissioner Of Financial Institutions Of The State Of Tennessee | Tennessee Mortgage Broker Bond Form | Tennessee Mortgage Broker Bond |
| Texas | Mortgage Broker Bond | $50,000.00 | Texas Department of Saving and Mortgage Lending Commissioner | Texas Mortgage Broker Bond Form | Texas Mortgage Broker Bond |
| Utah | Mortgage Broker Bond | $25,000 | Department Of Insurance Securities And Banking | Utah Mortgage Broker Bond | |
| Vermont | Mortgage Broker Bond | $10,000.00 | State Of Vermont | Vermont Mortgage Broker Bond Form | Vermont Mortgage Broker Bond |
| Virginia | Mortgage Broker Bond | $5,000.00 | Commonwealth Of Virginia State Corp Commission | Virginia Mortgage Broker Bond Form | Virginia Mortgage Broker Bond |
| Washington | Mortgage Broker Bond | $20,000.00 | State Of Washington Department Of Banking | Washington Mortgage Broker Bond Form | Washington Mortgage Broker Bond |
| West Virginia | Mortgage Broker Bond | $25,000.00 | West Virginia Division Of Banking | West Virginia Mortgage Broker Bond Form | West Virginia Mortgage Broker Bond |
| Wisconsin | Mortgage Broker Bond | $10,000.00 | State Of Wisconsin Department Of Financial Institution | Wisconsin Mortgage Broker Bond Form | Wisconsin Mortgage Broker Bond |
| Wyoming | Mortgage Broker Bond | $25,000.00 | State Of Wyoming Department Of Audit | Wyoming Mortgage Broker Bond Form | Wyoming Mortgage Broker Bond |