Texas Mortgage Broker Bonds

License Overview

Mortgage Brokers in the state of Texas are regulated by the Texas savings and Loan Department which is a division of finance Commission of Texas. The requirements to be licensed where enacted on January 1st, 2000 under the Mortgage Broker License Act. The state of Texas requires the Mortgage Broker to obtain a two (2) year license. They also must be a “Brick and Mortar” company, which means they must have a physical office within the state.

Texas has a Surety Bond requirement of $50,000 for a two (2) year term or they will allow you to prove to them you have a personal net worth of at least $25,000. In addition, the state of Texas requires the applicant must be able to show a minimum of the three years experience in the mortgage industry of 1.5 years mortgage industry experience and proof of a Bachelor’s degree with related coursework cited.

Bad Credit Texas 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.

Texas License Requirements

Age: None Required

State Residency: None Required

Experience: 3 years

Education: Bachelor’s Degree if 3 years of experience is not available

Continuing Education: 15 hours per year

Net Worth: $25,000

Surety Bond: $50,000

Free Surety Bond Quote

Background Check: Criminal, Fingerprint, & credit

Texas State Licensing Fees

Initial Application: $375 for Mortgage Broker $175 for Company Mortgage Broker License

Branch Location: $375 Individual & $175 Company

Renewal Application: $50

Branch Offices:

In State Requirements: Must have a physical location

Licensure Requirements: Branch must be licensed

Exemptions:

Entities: Bank, Credit Union, Insurance Company, Attorney

Safe Harbor: None

*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!

Choose Another State:

Commercial Bonds

• 

Warning: require(http://www.jwsuretybonds.com/temp3_mortgage_broker.php) [function.require]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /var/www/vhosts/jwsuretybonds.com/httpdocs/surety-bonds/commercial-bonds/mortgage-broker-bonds/texas_mortgage_broker_bond.htm on line 133

Fatal error: require() [function.require]: Failed opening required 'http://www.jwsuretybonds.com/temp3_mortgage_broker.php' (include_path='.:/usr/local/php-5.2.11/lib/php:/usr/share/php') in /var/www/vhosts/jwsuretybonds.com/httpdocs/surety-bonds/commercial-bonds/mortgage-broker-bonds/texas_mortgage_broker_bond.htm on line 133