Mississippi Mortgage Broker Bonds

License Overview

Mississippi Mortgage Brokers are regulated by the Mississippi Department of Banking and Consumer Financing. They are in charge of all aspects of the mortgage industry within the state. The Mississippi License is a bit harder to obtain due to the Surety Bond that they require. The Surety Bond is for $25,000 which is relatively small, but the bond form itself poses many problems for Surety Companies Nation wide due to the harsher language. The bond itself does not favor the Surety Company at all. Therefore you may have more issues when looking for a bond here. JW Bond Consultants, Inc. has many outlets for this bond.

Applicants must have at least 2 years experience in the mortgage industry or take and pass an examination. Applicants will also be subject to an extensive background check including having finger prints checked through a national data base.

Bad Credit Mississippi 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.

Mississippi License Requirements

Age: 18

State Residency: Required

Experience: 2 years or pass state exam

Education: See exam requirement under experience

Continuing Education: 12 hours annually

Net Worth: No Requirement

Surety Bond: $25,000

Free Surety Bond Quote

Background Check: Credit and criminal checks

Mississippi State Licensing Fees

Initial Application: $750

Branch Location: $750

Renewal Application: $750

Exemptions:

Entities: Bank Holding Company, attorney, Savings and Loan Company, Banks, Credit Unions, or Trust Company

Safe Harbor: None available

*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.

Get a FREE quote on your Mortgage License Surety Bond online now!

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Commercial Bonds

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