Mortgage Broker Surety Bonds

Mortgage Broker Surety Bonds

Mortgage Broker Bonds are required by many states. The bond requirement is usually regulated by the Department of Banking. Bond amounts vary state by state. On the smaller bonds under $25,000, most surety companies will underwrite strictly on personal credit reports of the owners. On the larger mortage bond amounts, over $25,000, most surety companies will require not only personal credit reports, but also personal and business financial statements.

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