Commercial Surety Bonds

Wyoming Mortgage Broker Bonds

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Mortgage Brokers in the state of Wyoming are regulated by the Wyoming Department of Audit, Division of Banking. Prior to July 1, 2005 a license was not required in the state to broker loans for home purchase. Law was signed into place on February 25, 2005 requiring that anyone conducting business in the state as a Mortgage Broker is required to get licensed. Examinations may be required but are at the sole discretion of the Commissioner. The Commissioner also requires that they have unrestricted access to all in state and out of state offices at any given time.

Wyoming also has a Surety Bond requirement of $25,000 plus an additional $10,000 for each licensed office. The state will not allow anyone who has been convicted of a felony to be licensed in the state.

Bad Credit Wyoming 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.

Wyoming License Requirements

Age: No requirements

State Residency: No requirements

Experience: A background in the industry

Education: No requirements

Continuing Education: No requirements

Net Worth: No requirements

Surety Bond: $25,000 and $10,000 for each additional location

Background Check: Credit and criminal checks

Wyoming State Licensing Fees

Initial Application: $1,000

Branch Location: $100

Renewal Application: $1,000

Branch Offices:

In State Requirements: Required to have accessible location for Commissioner’s examination if needed

Licensure Requirements: Each location gets licensed and have $10,000 Surety Bond

Exemptions:

Entities: Banks, Lawyers, Homeowners acting on their own behalf, Credit Unions

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.

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