Ginnie Mae Lost Instrument Bond |
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
A Ginnie Mae lost instrument bond, formally known as a Lost Instrument Bond with Limited Liability, is required by this federal agency when a property — usually in foreclosure — has a lost mortgage deed or note, and evidence establishing its satisfaction is not locatable.
The surety bond is required pursuant to Ginnie Mae 5500.e, Rev. 1, as amended, and serves as a financial guarantee for Ginnie Mae which absolves this federal agency from any liability, now or in the future, concerning the lost note or mortgage deed.
Obtaining a Ginnie Mae Lost Instrument/Note Bond
To obtain a Ginnie Mae lost note bond will include the following:
- Providing our agency with the documentation, available from Ginnie Mae, concerning the property, location, loan number, and other items;
- Providing our agency with the lost instrument surety bond amount required;
- Completing a surety bond application. We typically provide this application to you via Docusign. This will allow you to complete, sign, and return the application to our agency electronically;
- Review by a surety bond underwriter;
- Upon approval, payment by you of the onetime premium.
With Respect to Your Specific Property In Question
While the above is our general procedure for issuing this lost instrument bond, as it applies to your specific requirements, we’ll also need the following from you:
- Name of Issuer purchasing the bond;
- The Ginnie Mae pool number;
- Current issuer loan number;
- FHA/VA/RHS/§ 184 case number;
- The name of the original mortgagor;
- The address of the property;
- Mortgage recording information
Some of this information will be included in the documentation provided by Ginnie Mae; however, you will likely need to provide our agency with at least the pool number.
Issuing Your Ginnie Mae Lost Instrument Bond
Once your bond is underwritten by an underwriter and approved (good credit is required), we’ll take payment from you. Payment methods accepted by phone include credit or debit cards.
Your Ginnie Mae lost instrument bond is issued to you immediately upon receipt of the premium.
The surety bond and accompanying documents are then sent to you for signing and completing.
Once signed by you, it will be your responsibility to see that your surety bond and Power of Attorney are filed with Ginnie Mae.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in all 50 states.
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