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Testimonials:
"Fast, easy, and thorough."
-Mike Kraus of St. Louis Mortgage Consultants on 01/04/2008
"[My Agent] explained everything to me very thoroughly. There were not any questions that he could not answer."
-Patricia Jackson of Oceanview Mortgage Company on 01/04/2008
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Toll Free: (888) 592-6631
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Mortgage Lender Bond
Apply Online – Obtain a quote immediately online.*
Description: Mortgage Lender Bonds ensure the banker will obey the terms and conditions of the state in which they operate. The nature of the risk is extremely similar to mortgage broker bonds.
Some states require the same exact bond form and bond amount for brokers and lenders alike. The majority of states will require a larger bond for lenders.
Current Market: Bonding companies are aggresively pursuing mortgage lender and mortgage broker bonds to add to their book of business. These bonds are being
underwritten in a much more liberal fashion than other commercial bonds. If you have a knowledgable agent, a mortgage banker should be able to obtain a large amount of surety credit in comparison to
other occupations in need of a surety bond to guarantee their state licenses. Rates can vary drastically, as some sureties are still underwriting this class of business like any other commercial bond,
while others are opening their eyes to the low risk nature of the bond.
Special Programs: Due to the quantity of mortgage bankers in search of suretyship, specialty programs are available. Our agency offers programs for clients varying in risk and can bond most in
all 50 states, even start ups.
*Quotes are given immediately online when possible. Some circumstances require an application to be reviewed by an underwriter.
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