South Dakota Mortgage Broker Bond Amendment

South DakotaEnacted 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 broker’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.

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