Iowa Mortgage Broker Bonds

License Overview

Mortgage Brokers in this state are regulated by the Iowa Division of Banking. This is a very lenient state when it comes to the licensing of Mortgage Broker. The states definition of a Mortgage Broker is any individual that is attempting to facilitate or negotiate terms of a loan for a first mortgage for a residential property.

Iowa has a Surety Bond requirement of $15,000. They will also accept collateral equal to the $15,000 Surety Bond amount. Iowa also will look at your personal audited financial statements and background experience history in their determination of granting a license. All information must be 100% verifiable as the Iowa Division of banking is very diligent on a full investigation and verification process.

Bad Credit Iowa Mortgage Broker Bonds

Any applicant with less than perfect credit is encouraged to apply with JW Bond Consultants, Inc. We have a special program that is tailored to meet the needs of applicants that are considered higher risk.

Iowa License Requirements

Age: 18

State Residency: Not Required

Experience: Not required, but Iowa will do an experience background check through employment history.

Education: None required

Continuing Education: None required

Net Worth: None required

Surety Bond: $15,000

Free Surety Bond Quote

Background Check:

Managing Principle:

Iowa State Licensing Fees

Initial Application: $500

Branch Location: $500

Renewal Application: $200

Branch Offices:

In State Requirements: Required to have licensed broker in office

Licensure Requirements:

Branch Manager:

Exemptions:

Entities: Attorney, Banks, Credit Unions, and State Department

Safe Harbor: 3 or less loans annually

*This Information for licensing is provided only as a quick reference, make sure you contact the state to verify all information prior to making your application.

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Commercial Bonds

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