Enacted on 03/13/2008, SB 157 allows a mortgage brokerage to acquire one bond that will fulfill the bond requirement for all individual applicants that the brokerage employs. Under existing South Dakota law, mortgage brokerâ€™s license applicants must post a $25,000 surety bond individually.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.