Michigan Mortgage Loan Originator Bond

We write Mortgage Loan Originator Bonds in the state of Michigan.
Our GOOD CREDIT price is 1% of the bond amount..

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Michigan Mortgage Loan Originator Bonds are required by the Michigan Department of Insurance & Financial Services. These bonds expire on December 31st of each year.

The required bond amount will vary based upon the following factors:

For individuals that are not covered under the company bond FIS 2137: $10,000 Bond: If applying for the first time or are currently licensed and closed less than $12,000,000 worth of loans in the subsequent year.
$25,000 Bond: If the amount of loans closed in the subsequent year was more than $12,000,000 but less than $24,000,000.
$50,000 Bond: If the amount of loans closed in the subsequent year was more than $24,000,000.

For sponsoring companies that need the FIS 2137 form completed: $50,000 Bond: If the sum of the principal amounts are less than $12,000,000 worth of loans in the subsequent year.
$150,000 Bond: If the amount of loans closed in the subsequent year was more than $12,000,000 but less than $24,000,000.
$250,000 Bond: If the amount of loans closed in the subsequent year was more than $24,000,000.

Most applicants with good credit will qualify for rate indicated. In order to receive your specific quote, we must review your qualifications to determine the lowest possible price. If you have already been declined or nonrenewed by another Surety Company, chances are you will not qualify for this preferred rate.

We have various sureties willing to write bonds for applicants with less than perfect credit, including a special program with very competitive prices for those with just a few credit blemishes.

We find the best possible price for your surety bond given your particular qualifications.

Follow this link if you would like to visit the state of Michigan website for the Mortgage Loan Originator Bond requirement.

Additional information about this corporate surety bond requirement is as follows:

Obligee - Michigan Department of Insurance & Financial Services
Bond Amount - Varies
Bond Premium - 1% of the bond amount
Renewal Document - None.

Click on the No Obligation Quote button to complete our simple, one-page online bonding application. Completing the following application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!

I am an ...

Most Obligee's require that the name on the Bond EXACTLY match your license or license application.
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By submitting this Application, the owners listed above hereby authorize BondAbility, (including any of its representatives affiliates, agents or designees) to conduct any and all investigative inquiries including but not limited to obtaining consumer credit reports. Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false, incomplete, or misleading information, or conceals information concerning any material fact whereto, commits a fraudulent insurance act, which is a crime punishable by incarceration, and shall also be subject to civil penalties