The JW Bond Consultants team has relocated to a new, more spacious location. The new office was a necessary move due to the tremendous growth in our volume of business over the past 2 years.
Month: March 2006
Most bonding companies underwrite mortgage broker and mortgage banker bonds using the same guidelines. However, some consider banker bonds a riskier class of business and use stricter underwriting practices for them.
The end of the “soft market” in the surety bond industry brought about many cancelled bonds for high risk clients. Soon after high risk commercial bond programs came about, which built losses into the premiums. High risk bond programs go against traditional suretyship, but appear to be successful for the sureties who run them.
The Georgia mortgage broker bond is one of the more difficult mortgage broker bonds to place. The bond language is not favorable towards the surety or the principal. Therefore, most bonding companies refuse to write this particular bond.