Commercial Surety Bonds

Kansas Mortgage Broker Bonds

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In the state of Kansas Mortgage Brokers are regulated by the Division of Consumer and Mortgage Lending of the office of the State Bank Commissioner. A Mortgage Broker’s license allows the individual to write both first and second mortgages within the state.

Kansas has two different levels of Surety Bond requirements for their Mortgage Brokers. If you have a “Bona Fide” office location which the public has access to and have regular hours of operation your Surety Bond requirement is $50,000. If you do not have a “Bona Fide” office location you are required to have a $100,000 Surety Bond and be able to prove a minimum net worth of $50,000.

Licenses are renewed annually on or before August 31st and must accompany annual proof of continuing education credit. This makes this state a bit tougher to remain licensed in.

Bad Credit Kansas 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.

Kansas License Requirements

Age: 18

State Residency: Yes

Experience: Sufficient proof of loan knowledge

Education: Not applicable

Continuing Education: 8 hours annually

Net Worth: $50,000 if you do not have a “Bona Fide” office

Surety Bond: $50,000 with “Bona Fide” office or $100,000 without “Bona Fide” office.

Background Check: Credit and criminal

Kansas State Licensing Fees

Initial Application: $600

Branch Location: $200

Renewal Application: $400

Branch Offices:

In State Requirements:

Licensure Requirements:

Branch Manager:

Exemptions:

Entities: State or Federal Bank, Savings Bank, Trust Company, S & L Company, Building and Loan Association, Industrial Loan Company, and Credit Unions.

Safe Harbor: Not Applicable

*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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