Hawaii has created a “recovery fund” in lieu of their mortgage broker bond requirement, which is repealed at the end of 2010. The change helps fraudulent loan originators and penalizes those who play by the rules. In addition, it makes it more difficult and costly for the public to collect payment on a claim. Bad read more »
SB 2603/HB 2278 is a new bill that was enacted in Hawaii State relating to mortgage loan originators. The new will substitute the present mortgage loan originator surety bond requirements with a recovery fund. The previous legislation required originators to be covered by a surety bond in a quantity calculated by the dollar amount of read more »
Hawaii is now added to our acceptable states for our mortgage broker specialty programs. This means HI mortgage brokers can now obtain a surety bond quote faster than ever at highly competitive rates!