Mortgage servicers in Montana State now must obtain surety bonds in order to operate legally. The new law is titled HB 90 and requires mortgage servicers to acquire a $100,000 bond. HB 90 also states that separate bonds are needed for mortgage lender, mortgage broker and mortgage servicer licenses.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.