What’s the New Surety Bond Requirement?
The new Pennsylvania Bill, named 751, requires Pennsylvania mortgage servicers to obtain a license in order to operate legally (mortgage servicers can apply for licensing via the NMLS). In order to obtain a license, the new bill requires mortgage servicers to obtain a $500,000 surety bond. The new bond requirement went into effect on 4/1/2018.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
Get a Free Quote Instantly Online
If you’re ready to get a surety bond for this newly increased bond requirement, you can simply apply online.