While the Mississippi Department of Banking and Finance is the regulatory body for mortgage brokers in the state, your license and $25,000 surety bond are filed through NMLS, the Nationwide Mortgage Licensing System.
Our agency can electronically file the surety bond on your behalf once purchased.
There is no credit check nor underwriter review for the $25,000 Mississippi mortgage broker surety bond with out agency.
After completing an application – which we can take from you verbally over the phone --- and payment of the $188 premium, our agency issues this bond for you immediately.
What this means for you is that even before calling our agency, you are automatically approved for this surety bond.
After purchase, if you choose not to have our agency electronically file your surety bond, we will have the original bond mailed to you. This surety bond will bear our signature as Surety, and you will sign it as Principal before electronically filing it with NMLS.
At $188 annually, your Mississippi mortgage broker bond is issued with a one year term. The bond will renew each year.
As you know, an active surety bond must always be on file to remain eligible to act as a mortgage broker.
You may also choose to prepay your bond up to 3 years, which both lengthens the time between renewals and saves you money. The premium prepayment options and savings are as follows:
The surety bond requirement is a financial guarantee which ensures your compliance with the Mississippi S.A.F.E. Mortgage Act, and any amendments or additions to this law.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Mississippi. Our agency also provides surety bonds nationwide.
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